Walmart shares have increased following the announcement of an online discount sale taking place this Wednesday.
The prices of over 2,000 items, which include electronics and home products, will be rolled back. The company will also drop its minimum for free shipping from $50 to $35.
Walmart's initiative is said to be a response to Amazon's debut of "Prime Day," which offers deals to members enlisted in its Prime program.
"We've heard some retailers are charging $100 to get access to a sale," Walmart.com Chief Executive Fernando Madeira said in a blog post, according to Reuters.
"...The idea of asking customers to pay extra in order to save money just doesn't add up for us."
Walmart is in the planning stages of launching an unlimited online shipping service later this summer, which promises to deliver products to customers within three days.
The new initiative costs $50 annually. It is only available for those with special invitations for the moment.
"Depending on customer feedback we will see how the programme evolves," Wal-Mart spokesman Ravi Jariwala told Reuters.
There are an estimated 7 million products currently listed on the company's website.
