Target Also Plans to Price-Match Online Retailers for the Holidays
Less than a week after electronics retailer Best Buy announced that they would be price-matching their internet competitors this holiday season, Target has also jumped on board.
At a press event today Target CEO Greg Steinhafel unveiled the new initiative, which will see the retailer match the prices displayed online by a number of companies including Amazon, Walmart, Best Buy, Toys R Us, and of course, Target.com.
The in-store price matching currently does not include Target.com:
“If you find an item in a competitor’s printed ad that is priced lower than it is at your Target store, we will match the price. The competitor’s ad must be local and current, and the product must be the identical item, brand name, quantity and model number. Target.com is excluded from our price matching policy. Competitor catalogs can also be ad matched as long as the catalog displays a valid date and meets all other qualifications,” says the company on their current “Low Price Promise” page.
The current price-match policy excludes “promotions or products advertised on another company’s web or mobile sites, even those advertising in-store prices” as well, so this is a big change for the company.
It’s not permanent, however, as Target will only price-match these select online retailers from November 1st to December 16th (the prime holiday shopping period).
Target told Mashable that the Amazon price-matching will not include third-party sellers housed on Amazon Marketplace.
What Target and Best Buy are fighting is showrooming, the now-ubiquitous practice of finding a product you want, snapping a picture or jotting is down in your notes, and then returning home to buy it (sometimes for cheaper) online. Basically, it’s using brick and mortar retailers like Best Buy and Target as your own personal showroom – something they clearly aren’t fans of.
Target hopes that this will get people in the door, but more importantly make sure they actually walk out with something in the cart.