Heading into the holiday selling season, Amazon (NASDAQ: AMZN) already has the edge over other retailers when it comes to consumer electronics pricing.
The inaugural Boomerang Commerce Retail Analytics Report looked at 1,200 items in the CE category and found that Best Buy, Jet, Target and Walmart all had higher prices than Amazon.
Walmart had the highest prices in the study.
Best Buy, Jet, Target and Walmart all significantly lagged behind Amazon in product assortments, although Walmart had the closest match with 32.9 percent product overlap with Amazon. Best Buy and Jet overlap by 29.5 percent and 16.4 percent, respectively.
Walmart had the highest prices, averaging 8.3 percent more than Amazon for the most popular products (as identified by Boomerang).
Newcomer Jet.com was the most closely matched with prices, just 1.4 percent higher than Amazon on average, as its membership model offers products at near wholesale prices.
And Amazon is clearly the most competitive when it comes to offering discounts. The online retailer offered discounts of 66 percent off list price. Target had the smallest list price discount at 15 percent. Walmart and Best Buy discounts averaged 22 percent and 19.9 percent, respectively.
"Retailers will not survive the modern world of omnichannel sales without a proper assortment strategy," said Guru Hariharan, CEO and founder of Boomerang Commerce. "Product selection and pricing directly impacts consumers' experience, buying habits and loyalty. This Boomerang Commerce Retail Analytics Report illustrates just how far retailers' pricing and assortment currently lag behind Amazon."
CE is a key product category for the holidays. Each year sees a new round in the escalating price wars between retailers. But pricing technology is nimble, and retailers can be expected to quickly adjust prices as the season progresses.
-See this Boomerang Commerce Retail Analytics report
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