Taget has decided to expand a holiday promotion and keep price-matching of online retailers an option for the entire new year, according to a report from Reuters.
According to the company, they will continue to match the prices on competitor’s websites – Walmart, Best Buy, Toys R Us, and yes, Amazon.
This past holiday season, Target unveiled online price-matching for what they said would be a limited time (November 1st to December 16th). Target’s prior price-matching policy read like most other retail stores, allowing for customers to bring in print ads for identical products and receive a discount either at the time of purchase or for a short period following the purchase. It previously excluded “promotions or products advertised on another company’s web or mobile sites, even those advertising in-store prices,” so the new price-match policy was a big change for Target.
The new plan extends the new price-match policy, while also expanding it to Target.com prices. Customers will have one week to bring in the competitor’s price in order to get their refund. Although the Amazon price-matching doesn’t include third party sellers housed on Amazon Marketplace, it still means that Target is taking on an online retail outlet that is known to boast some unusually low prices for some products.
How can Target manage this, you ask? Was the holiday price-match program that profitable? Well, not exactly. A target exec told Reuters that not many customers are taking advantage of the price-match program. Still, offering price matching from Amazon sets Target apart from many other retailers. It’s clear that the company knows it must fight showrooming – the frequent practice of using a physical retailer as a “showroom” for products, and then going home to make an oftentimes cheaper purchase online.