Target ends 12-year Amazon and Walmart price match policy amid slowing sales and shifting consumer habits
As of July 28, shoppers will no longer demand a price match for products sold and fulfilled by Amazon or Walmart, Target was approved on Tuesday, July 22. Instead, the retailer will only honor the price match requests for products available in Target stores or Target.com.
In 2013, the broken policy, introduced under CEO Gregg Steinhafel at that time, allowed customers to offer a lower price evidence on the same brand, size, weight, color and model number within 14 days after the purchase. At that time, he was positioned as part of Target’s commitment to “unbeatable value”.
However, Target says that consumer habits have changed. One spokesman, “guests, not with other retailers, but match a match in a way that matches the price,” he said.
The movement is struggling to revive the target sales momentum and withdraw shoppers to the stores. In his last three -month report, the company pointed out to soften the consumer demand and decreased by 2.9 percent in annual sales.
Target CEO Brian Cornell said in May that the company operates in a “extraordinary challenging environment ve and determined the consumer trust and uncertainty around the global trade as obstacles that continue. In recent months, the Americans tightened their wallets and paid attention to inflation and economic uncertainty. The Consumer Confidence Index of the Conference Board shows that it shows increasing attention among those who shop and fell by 5.4 points in June. Although the cross -reaction returns from the price pairing, Target’s decision can open space for competitors such as Best Buy and Home Depot, which continues to offer price pairing guarantees. In the meantime, Walmart continues a price pairing policy, but not by other retailers, but only for products sold on Walmart.com.
