NEW YORK — Walmart is asking suppliers to cut back on advertising spending in its stores as it seeks lower prices on goods that it sells to its own customers.
The request comes as the world’s largest retailer, based in Bentonville, Ark., looks to reclaim its position as the low-price leader amid stiff competition and perk up sluggish sales in the U.S.
Historically, makers of consumer products devote a portion of their budget to market their products at Walmart whether it’s online advertising on social media or store displays. Walmart executives told suppliers in February they would rather have them reinvest some of that money.
Deisha Barnett, a Walmart spokeswoman, confirmed the strategy and said that the discounter has made that request in the past but described the recent overture as more of a “reinvigorated focus.”
