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Cyber Monday showdown: Wal-Mart closes in on Amazon in online price war

It has shrunk price gap to just 0.3% more on average, down from 3%; the lower prices are consistent as well

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Walmart will need to fork out around US$6 billion over several years to maintain price parity with Amazon and take on other retailers, analysts say. The move has eroded profitability, but the company is cash-rich and diverting the spending from the opening of new stores.

San Francisco

WAL-MART Stores Inc is within striking distance of matching Amazon.com Inc's online prices for the first time, a key milestone in its effort to regain the "low price leader" title.

Wal-Mart has aggressively invested in making its prices more competitive against brick-

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