44% of retailers have cut prices due to online competition
An Amazon worker picks items for shipment. (Photo: Ross D. Franklin / AP)
Nearly half of retailers in the United States, Europe, and Japan have been forced to cut their prices in the face of online-only competition, according to a survey of retail executives by Applied Predictive Technologies.
Why it matters: It's more evidence explaining why investors have lost confidence in most major retailers outside of Amazon in recent months.
For context: Stocks in 14 out of 29 companies in the S&P 500 retailing industry group have fallen in value this year, a time when more than 70% of stocks in the S&P 500 overall have risen in value, according to S&P Capital IQ. Investors fear these companies' inability to raise prices without also losing market share to the likes of Amazon.