ChoiceStream

The world’s top retailer has launched a brash price war against Amazon.com, saying it would sell 10 hotly anticipated new books for just $10 apiece through its online site, Walmart.com. Hours later, Amazon matched the $10 price, squaring off in a battle for low-price and e-commerce leadership heading into the crucial holiday shopping season. Wal-Mart soon fired back with a promise to drop its prices to $9 -- and made good on that vow. Wal-Mart said the splashy move was part of a larger strategy to establish Walmart.com as the biggest and cheapest online retailer. “If there is going to be a ’Wal-Mart of the Web,’ it is going to be Walmart.com,” said Walmart.com CEO Raul Vazquez in an interview. “Our goal is to be the biggest and most visited retail Web site.“Read the full article