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A study breaks down who has the best prices between Amazon, Target, and Walmart in 5 different categories - here's where to shop for what
A study breaks down who has the best prices between Amazon, Target, and Walmart in 5 different categories - here's where to shop for what
Remi RosmarinJul 31, 2019, 21:25 IST
Alyssa Powell/Business Insider
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A recent report from LendEdu compared prices on products across five categories at Target, Amazon, and Walmart to find which one actually offers the lowest prices.
The report found that Walmart offers the lowest prices on average, followed by Amazon, then Target, though different retailers reigned supreme in different categories.
Below, we break down the report to show you which retailer has the best prices on which categories, including tech, kitchen and appliances, food and beverage, and more.
But Walmart and Target are proving they're not to be forgotten. Each retailer offers free two-day shipping on orders of $35 or more, and you don't even need a membership to get these perks. What's more is that they both have competitive pricing, so it can be hard to know which of the big three mega-retailers truly has the best prices.
The only way you could really know which brand is the cheapest is if you combed through each site and compared the prices of a random sampling of products to ultimately come to a conclusion. That seems like it may be more effort than it's worth.
That's why LendEdu, a company that educates consumers on financial products like loans and credit cards, did that work for you by comparing 50 nearly identical items from Amazon, Walmart, and Target to see how pricing differed at the three retailers.
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Products were split into the following categories:
Home goods
Food and beverage
Kitchen and appliances
Technology and entertainment
Miscellaneous items
LendEdu deduced that, overall, Walmart offered the cheapest products, with Amazon and Target shortly behind, respectively. But, the winners also varied category by category.
You can find the whole report here. Below, we'll break down the comparisons by category, crowning a winner that offers the best prices on average in each, to give you a better understanding of what these price differences really look like. You may be surprised at some of the findings.
Note: Percentages used in the report are based off prices at the time of publication. Prices in this article may differ from report to reflect any updates or changes in price.
On average, Walmart had the best prices on home goods like soaps, toothpastes, detergents, and more. Compared to Amazon, Target was 1.30% more expensive in total, while Walmart was 0.67% cheaper. Amazon still offered the best price on certain products, like Lysol wipes.
Products:
Gain Flings Liquid Laundry Detergent Pacs, 96-count:
Target, Amazon, and Walmart all have their own flourishing grocery operations, but in this category comparison, Target came out on top. On average, Target was 7.30% less expensive than Amazon. Walmart was next — on average, food and beverage products at Walmart were 4.61% cheaper than at Amazon. Food and beverage items were classified as anything for human or animal consumption.
Most prices in this category were the same, but when they weren't, Amazon offered the best value on average. Anything normally found in a kitchen setting (think: microwaves, coffee makers, etc.) fit into this category. LendEdu found that, on average, items at Target were 1.16% more expensive than those at Amazon, while Walmart's products were 10.62% more expensive than Amazon's, on average.
Walmart may not be your destination for all things tech, but maybe it should be. LendEdu found that, on average, tech products were 4.19% cheaper at Walmart than Amazon. Tech at Target was a little more expensive than at Amazon — 1.42% more on average based on findings. Still, a few items at Walmart were more expensive than at the other two retailers.
Miscellaneous items were classified as household items that did not fall into the other four categories, like pens and sunscreen. While Target did have a price win this category, the overall winner was Amazon, with the lowest prices on majority of products in the category. On average, Target was 4.39% more expensive in total, while Walmart was 4.99% more expensive in total compared to Amazon.
Overall, LendEdu found that Target was only 0.97% more expensive than Amazon and Walmart was only 1.79% cheaper than Amazon, across all categories. If anything, these percentages show that the price differences between these three retail giants are only getting smaller. Each of them are incentivized to get more competitive with their pricing to stay relevant, which is good news for you, the consumer.
If you're going to walk away with anything from these findings, make it this: Do your research if you want the best price. You can sometimes stumble upon some really great prices, whether they be on home goods or technology, just by checking out products on a few different sites. Maybe you want to do your snack shopping at Amazon, get your home goods at Target, and buy your tech at Walmart. Or, maybe you want to stick to doing all of your shopping on one site for ease of ordering, or an allegiance to a certain retailer, and that's okay.
Prices at these retailers frequently change too, so there really isn't one retailer who will consistently be cheapest. Just know that the most convenient and affordable price may not always be where you think it is.
