Walmart is probably the most popular big box store in the nation. It is definitely one of the greediest stores. I’ve seen this firsthand as I used to work for the store. While there, I had access to a device that showed the current retail price and I could easily to see what the markup was. On several items, the markup was as much as 60%. That appalled me.
President Donald Trump clearly feels the same way. He has been increasing tariffs left and right and sooner or later, major retailers are going to pass the costs onto us and that will make us feel the impact at the register. Even though the price increases will affect me just like it will affect you, I agree with Trump’s decision to put the screws to retailers as well as other industries.
On social media today, Trump told retailers and companies in other affected industries to “eat” the tariffs. I agree, especially when it comes to Walmart. Believe me, the tariffs will not affect their bottom line to the point that they should do things like doubling the price.
On a quarterly sales call, Walmart’s CEO Doug McMillon said, “the higher tariffs will result in higher prices.” And there we have it, folks: retail greed. Yes, I realize that Walmart is a public company and its goal is to maximize ROI for its shareholders, but there is absolutely no need for them to make it so their employees have to replace most, if not all, of its price tags.
A Walmart spokesperson said that it’s working to keep prices low and that, “we won’t stop.” Whether or not they’ll change their tune when they factor in tariffs remains to be seen, but knowing them, they’ll double the prices on many of its items.
For example, I purchase Walmart brand (Great Value) apple juice and the cost has doubled over the course of the past three years. I can absorb that increase with no problem, but there are plenty of people who simply can’t afford that. They will have to go elsewhere in the hopes that prices will be lower elsewhere.
The bottom line here is that Trump is right: let’s hope that Walmart’s hungry, because the right thing for them to do is chalk tariff increases up to the cost of doing business.