Wal-Mart goof: Computer monitors for $9
The retailer erroneously gave shoppers a great deal Wednesday, leading to discounts of as much as 95%.
By Adam Samson
Everyone knows Wal-Mart (WMT) for its discount goods, but this deal might be a bit too sweet. The world's largest retailer erroneously priced a handful of computer monitors at a heavy discount online Wednesday morning.
Monitors ranging from a high-definition, 24-inch product by Viewsonic to a 20-inch version made by Hewlett-Packard (HPQ) were made available at the bargain price of $8.85.
The suggested retail price of those two monitors are $199.99 and $185, respectively, although retailers often offer them at discounts.
Many of the monitors were sold out by 8 a.m. ET, although the prices persisted on Walmart.com.
Wal-Mart says that a technical error caused a number of products to be priced absurdly low or high on its website earlier Wednesday. The company says it is working to resolve the issue and that the site may have intermittent problems with availability until then.
A spokesperson declined to specify whether an error was made, but said the tech goodies were unavailable in the retailer's brick-and-mortar stores and are "no longer available" online. She also couldn't immediately comment on whether people who swooped in on the pre-holiday snafu would be able to buy the monitors at the specified prices.
These sort of glitches are certainly not unheard of in the technology realm. In September, United Airlines (UAL) accidentally offered some flights at $0. That month, Abercrombie and Fitch's (ANF) Hollister brand mistakenly offered bras for free.
This holiday season is expected to be a tough one for retailers. Indeed, analysts at Morgan Stanley (MS) are calling for the worst holiday selling season since 2008. The New York investment bank sees retailers offering the deepest discounts since '08 as well.
"With six fewer shopping days between Thanksgiving and Christmas, retailers could push the promotional 'panic button' earlier than needed, putting margins at risk," the analysts, led by Kimberly Greenberger, wrote.
The Associated Press contributed to this report.
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ones coming from other countries. Same goes for meats. Can't be trusted. As for bakery items, I quit buying them. To raise the price by a dollar, cut back on size, and quality. You can't fool the daily shoppers. I've taken my business and money elsewhere.
with retailers panicking about margins and $80,000 plus workers lucky if they find a job paying $10,000 a year (bases upon 29 hours a week minimum wage) and Large Company Executives getting on average $200,000,000 a year which says the economy is growing again
but the economy is only growing for the top 1 percenters
pretty much America is doomed
THERE IS NO RECOVERY THINGS ARE ONLY GETTING WORSE
Every website I've ever seen makes the (unclear, small print) declaration that "printing" errors in price, description, or anything else carry no weight.
I've known of web retailers charging the crazy low price, catching their error, then charging the customer's card again to bring the price up to snuff; and emailing the customer to advise if they don't want the item at the actual lo-lo price to cancel the order, etc, etc.
no problem till I tried to activate them........couldn't, Tracfone said they had no record
of those phones being sold......................after several calls, emails, etc I took
them to the store and got a refund.
Found out the phones were never scanned by the warehouse or the store and the
store refused to scan them because they didn't sell them to me!
I'm not likely to buy online from them again.
Why have walmart articles been popping up so much lately?
I'm STILL not going there for anything Christmas,or most other stuff for that matter.
One thing which I did find a few years ago was a cheap,store brand razor blade refill.
Why do I buy it? It was the only one stating "Made In America."
The rest,even name brands,have X made here,Y made there,assembled in ______.
I swore about 10 years ago that I could have made a killing by starting a business selling "Made In America" stickers.
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