Today, January 8, Target announced that it will match the prices of top online retailers year-round, including Amazon.com, Walmart.com, BestBuy.com and Toysrus.com (including Babiesrus.com). This price matching will include items found on Target.com.
The price matching will begin immediately and will extend the practices Target was already offering for competitor ads. If a customer purchases an item at a Target store, then finds the identical item for less in a Target circular, a competitor’s add, or on Target.com, Amazon.com, Walmart.com, Bestbuy.com or Toysrus.com within seven days, Target will match the price.
This price matching strategy is not new for Target. They have engaged in a similar strategy over the holidays for a couple of years now. It is unclear whether this will have a positive impact on Target’s revenue. This could be a positive for consumers, however, especially for some of those technology gifts not received during the holidays.
“Guests can confidently shop at Target every day for the best value in retail,” said Gregg Steinhafel, Target Chairman, President and CEO. “We know that our guests often compare prices online. With our new Price Match Policy and the additional five percent savings guests receive when they use their REDcard, Target provides an unbeatable value.”
A customer may stop by Target’s Guest Services prior to a purchase with proof of current price or by bringing the original Target receipt and proof of current price. Further details of Target’s price matching policy can be found on their website.