Value wars between Amazon and Walmart to attract cash-strapped consumers are heating up late in the year. Amazon announced on Wednesday morning the launch of a new private-label line called "Amazon Grocery," which spans more than 1,000 products and is largely priced under $5. Amazon Grocery will be a direct competitor to Walmart, Aldi, and other value grocery chains, offering affordable private-label goods amid ongoing value wars (read report). The new line will feature dairy, fresh produce, meat, snacks, and pantry staples priced under $5, an easy hook for low-income consumers. In recent years, it has doubled down on physical retail through Whole Foods Market, Amazon Fresh supermarkets, and convenience stores.