NEW YORK – Wal-Mart is asking suppliers to cut back on advertising spending in its stores as it seeks better prices on goods that it sells to its own customers.
The request comes as the world's largest retailer looks to reclaim its position as the low-price leader and perk up sluggish sales in the U.S.
Historically, makers of consumer products like laundry detergent devote a portion of their budget to market their products at Wal-Mart whether it's online advertising on social media or store displays. Wal-Mart executives told suppliers in February they would rather have them reinvest some of that money.
Wal-Mart's actions were first reported by The Wall Street Journal.
Deisha Barnett, a Wal-Mart spokeswoman, confirmed the strategy and described it as more of a "reinvigorated focus."
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