Walmart has launched a new $1 million cash offer for the second time in four years to help shoppers save money on the nation’s largest retailer.
The offer, announced Tuesday, is the latest step by the discount giant to help boost its bottom line.
Walmart announced the new offer during a conference call with analysts, but didn’t give a timeframe for when it would be rolled out.
The move comes after a slew of negative reviews by customers about Walmart’s online stores and its lack of transparency about its drug prices.
In February, the company launched a program called the “Pricing Promise,” which allows customers to sign up for the company’s free shipping on most orders over $99.
In exchange, they’ll receive a $500 credit towards their next order.
That program is still ongoing, but the new cash offer, which Walmart says is tied to the retailer’s “pricing commitment,” gives shoppers a $1.00 off coupon per order when they shop online and can be applied toward their next Walmart order.
The offer expires on Aug. 28, 2019.
In addition, Walmart said Tuesday that it would start offering its own “Best Buy Pharmacy” coupons to encourage customers to shop there instead of its online stores.
Walmart’s “BestBuy Pharmacy coupon is available to eligible customers at participating stores in the U.S. and Canada.
The coupon is valid on purchases made at participating BestBuy stores, and is valid for one-day only.
To apply, customers will need to select BestBuy Pharmacies in the My Walmart Shopping page, and the coupon will be emailed to the customer within 48 hours.
Walmart will not be issuing coupons to other customers or Walmart associates.”
Walmart also said it was extending the deadline for its “Price Promise” program by two months to coincide with the “Price Pledge” initiative, which launched in January.
The “Price pledge” offers a $250 credit towards Walmart’s next order of $100 or more, and it will end on Aug 26.
The Price Promise offers are valid on all other Walmart products, including grocery and department stores.
The company’s stock is down about 10% this year.