Wal-Mart Is Quickly Catching Up To Amazon

REUTERS/Jonathan AlcornWal-Mart is catching up to Amazon on price.

Amazon is still cheaper than Wal-Mart, but that's changing fast. 

Deutsche Bank recently compared prices for 65 identical items from Amazon.com, Walmart.com, and Target.com. 

Amazon prices were 5% lower than Wal-Mart in the most recent analysis. 

But in the same study two weeks ago, Amazon's prices were 8.3% lower than Wal-Mart's. 

Wal-Mart has a renewed focus on offering cheaper merchandise amid a slowdown in its US business. 

"We cannot let our competition beat us on price," US CEO Greg Foran told investors earlier this year. 

Wal-Mart recently rolled out a new app called Savings Catcher, which helps shoppers compare prices on merchandise and then pays them the cost differences on a gift card. 

Wal-Mart has also been investing heavily in its e-commerce business in a bid to catch up to competitor Amazon. 

Deutsche Bank found that Target was the most expensive of the three retailers, with prices 7.9% higher than Amazon's. 

Retailers are offering far more bargains and promotions this year than last, according to the analysts. 

Compared with last year, prices are 12% lower at Wal-Mart, 9.7% lower at Amazon, and 3.5% lower at Target.