Target to end price match policy — and customers are seeing red. ‘Not a good move'

Miami Herald

6 days ago

Target is planning to ditch its competitor price match policy, a decision that has some customers seeing red.
Starting July 28, the retail giant said it will only offer price matching between Target stores and Target.com, a company spokesperson confirmed to McClatchy News.
For more than a decade, Target's 'price match guarantee' allowed customers to match the price of identical items sold at a lower price by Walmart and Amazon, in addition to its own stores, according to its website.
For example, customers could match Target.com prices on in-store purchases, and vice versa. Prices can be matched at the time of purchase or within 14 days, Target said.
'We've found our guests overwhelmingly price match Target and not other retailers, which reflects the great value and trust in pricing that consumers see across our assortment and deals,' a Target spokesperson told McClatchy News in a statement July 21.
The Minneapolis-based retailer launched its price match policy in 2013 in a move then-CEO Gregg Steinhafel said would offer shoppers an 'unbeatable value,' CBS News reported.
The new policy will allow customers to 'continue to shop with confidence,' the Target spokesperson said. A notice shared in stores also cited 'guest feedback' for the changes, which have drawn the ire of some shoppers.
'I used to shop at Target a lot,' one person wrote on Reddit. 'Not anymore. This is ridiculous, and not a good move.'
'What, do guests not like saving money?' wrote another.
'I'd price match Amazon or Walmart at times and then use my discount (yes this follows policy),' another shopper posted on Reddit, adding: 'Well, I'll just buy less or buy it where it's cheaper.'
The changes comes as Target struggles with lagging sales, due in part to ongoing fallout over the company's decision to roll back its diversity, equity and inclusion initiatives, as reported by KCRA and CNN. The company also pointed to backlash over LGBTQ-themed items offered at stores during Pride Month in 2023.
First-quarter sales this year dipped nearly 4 percent as the retailer 'navigated a highly challenging environment,' Target CEO Brian Cornell said in an earnings report published in May.
'...We're not satisfied with current performance and know we have opportunities to deliver faster progress on our roadmap for growth,' Cornell said.
Target was the last to continue offering a price match guarantee on items from competitors, according to NewsNation. Walmart doesn't offer price matching for rival retailers — only online and in-store purchases, its website says.
Amazon currently does not offer price matching.