Target Will Now Match The Lowest Prices Of 29 Online Rivals

30 Sep 2015 | Author: | No comments yet »

Target Expands Price-Matching Policy as Online Competition Grows.

The discounter said it will now match prices on goods sold by, and Costco and Sam’s Club — a move that could save shoppers plenty just as the holiday shopping season is about to begin in earnest. The retailer had excluded purchases from its policy that lets customers get a better deal if they show that someone else is selling the same item for less.

Target Corp. is expanding its price-matching policy in stores and on its website, a sign of escalating competition with Inc. and other retailers.Target Corp will match its online prices with more than two dozen online competitors including and Wal-Mart Stores Inc from Oct 1, the Associated Press reported.

Starting Oct. 1, Target will match a longer list of competitors’ prices, going back as far as 14 days, the Minneapolis-based retailer said in a statement Wednesday. The change in policy is a big step for the fourth-largest US retailer, which until now only matched prices at its own stores and not at online rivals, said. Target is increasing the number of online rivals that it will match from five to 29, including for the first time stores that require membership, such as Costco Wholesale Corp and Sam’s Club. Wal-Mart, the brick-and-mortar retail giant with an increasing online presence, has long had on its price-match list, but Target has not offered to match Walmart previously. This is the company’s latest move under chief executive Brian Cornell, who has sought to narrow the retailer’s focus to a handful of product lines where Target believes it has an edge on quality and price while also investing to catch up with rivals online.

Target Chief Executive Officer Brian Cornell has been working to reduce expenses and refine the chain’s product assortment, a turnaround effort that followed a sales slump and massive data breach in the holiday season of 2013. Under the new price-matching policy, consumers looking for such an item could save more than $80 by telling Target that the same bike is sold on Amazon for $319. AAA Energizer batteries were 50 cents cheaper on Amazon than on Target’s website and a pair of men’s Georgia Boot work boots, priced at $99.99 at Target — pre-price match — could cost you 25 percent less once you told Target that Amazon was selling them for $74.21. “These are simple changes, but they mean a lot for our guests,” Jason Goldberger, president of, told a packed room of 13,000 store managers at a recent meeting held in Minneapolis, according to the AP.

Even with recent successes and adoption of online-friendly policies, the question remains over whether Target can compete with large rivals Amazon and Wal-Mart. Sucharita Mulpuru-Koadali, an analyst at Forrester Group, told the AP that fewer people take advantage of price matching when they buy a product online versus buying it in a store because the process is more tedious. Neither brick-and-mortar retailer, however, has offered a competitive equivalent to Amazon’s “Amazon Prime” membership, which offers free 2-day shipping nationwide, along with other perks. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN.

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