Amazon Takes Advantage Of Walmart Closure
Walmart has closed 150 of its stores only in the United States this month, while other rivals take advantage of the situation.
Walmart reported shutting down many of its express stores out of which 150 of these were in the United States. It has left food deserts in the areas where it shut down the stores, as there is no one left to fill the gap that is left by the retailer. Some rivals of the business are taking advantage of this situation by the closure of this business. A customer sold the items he bought on discounts on Amazon.
Before Walmart Stores Inc. decided to shut down its store, it had to clear its shelves out. In order to reach this goal quickly, the retailer first provided discount of 25% on most of its product, which later went on to 50%, and at the end, it went up to as much as 75% off. This made many shopaholics take advantage of the situation and buy as many item as possible. One of these customers was Keith Yaple, a 22-year-old man who bought goods costing him $12,000 from a store in Hartland, and later resold the products on Amazon in profit.
Keith Yaple profited after selling the items he bought from the giant retail chain through discounts. He was not the only one to resale items but many others decided to do the same. This is done largely by many customers and is known as retail arbitrage. Yaple said to have spent three hours at Walmart store purchasing goods he knew he could resell at the non-discounted prices on Amazon.com instead. This even included electronics such as security cameras and computers.
Another customer took advantage of Walmart Wholesale. Nathan Slamans bought items worth $5,000, but originally worth $10,000. He is now planning to make $30 profit from each item resold. Spokespersons for both Amazon and Walmart have refused to make any comment regarding this development.
It is not against the law to resell item on Amazon, neither does the e-commerce business prohibit it. Thus, customers took advantage of this and made profit out of it. 10,000 jobs have been lost due to closing of Walmart stores in US; the business is hoping to save costs by making such a decision, where others are sad about the company shutting down stores, people such as Yaple and Nathan are counting on it so that they can profit from it. What they do not realize is how bad it is for the economy of the areas they live in.