Here's why Target is ending its long-running ‘price matching' policy this month
"We've found our guests overwhelmingly price match Target and not other retailers, which reflects the great value and trust in pricing consumers see across our assortment and deals," a Target spokesperson told ABC News.
The policy, introduced in 2013, allowed customers to buy items in Target stores at reduced prices if they were being sold for less on Target.com, or at Amazon or Walmart.
Under the new policy, the price match will only apply to lower-priced items on Target.com, according to the company.
Target's policy was an industry first as brick-and-mortar chains faced increasing low-price competition from online retailers.
Target, which is ending its price match policy this month, has faced rising inflation, consumer boycotts, disappointing earnings, and uncertainty around Trump's tariffs (Copyright 2025 The Associated Press. All rights reserved)
Neil Saunders, a retail analyst at the research and analytics firm GlobalData, said the change was a sign of Target's continued financial challenges.
"Target's profitability and margins have weakened over recent years, and if it wants to invest more in stores, then it needs to be more financially disciplined," he told USA TODAY. "Ending price matching helps to achieve this, especially at a time when costs are rising because of tariffs. That said, this is only one part of the puzzle and there is a lot more Target needs to do to bolster its bottom line."
In May, the company missed Wall Street expectations and announced sales were down 2.8 percent in the first quarter, and had declined compared with the same period in 2024.
Target, along with some of its competitors, have faced financial headwinds including uncertainty over the Trump administration's on-again, off-again tariff regime, rising inflation, as well as multiple consumer boycotts in the wake of the company's decision to align with the priorities of the new administration and end some of its diversity initiatives.
Target competitors such as Best Buy retain a price match offer while Amazon and Walmart do not.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
17 minutes ago
- Business Insider
COIN, CRCL, MSTR: Crypto Stocks Fall After Trump Signs Stablecoin Bill into Law
Stocks of cryptocurrency companies such as Coinbase Global (COIN) and Circle Internet Group (CRCL) are down after U.S. President Donald Trump signed into law a bill that regulates stablecoins. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Trump has signed the 'GENIUS Act' into law, marking a huge win for the crypto industry that had been lobbying for a regulatory framework to gain greater legitimacy among investors. The crypto legislation landed on Trump's desk after it was passed in the U.S. House of Representatives by a vote of 308 to 122, following earlier approval in the Senate. The GENIUS Act bans yields, or interest payments, on regulated stablecoins, a move that is helping to boost cryptocurrencies such as Ethereum (ETH) that provide yield generation. Ethereum is currently trading near $3,800, its highest level of the year. Stablecoins are cryptocurrencies whose value is pegged to an underlying asset, typically the U.S. dollar or price of gold. Use Case Stablecoin use has exploded in recent months, with some Wall Street banks such as Bank of America (BAC) announcing plans to launch their own stablecoins. However, news that Trump signed the GENIUS Act into law has crypto stocks such as Coinbase and stablecoin issuer Circle trading lower. Analysts say investors are taking profits after a bull run in the lead-up to the legislation's passage. Other well-known crypto stocks such as Strategy (MSTR) and miners such as Riot Platforms (RIOT) are also trending lower or trading flat on July 22. At the same time, cryptocurrencies are advancing, with prices for digital assets such as Solana (SOL) climbing 5% and Bitcoin (BTC), the largest cryptocurrency by market capitalization, up 2% in the past 24 hours. Is COIN Stock a Buy? The stock of Coinbase Global has a consensus Moderate Buy rating among 25 Wall Street analysts. That rating is based on 13 Buy, 11 Hold, and one Sell recommendations issued in the last three months. The average COIN price target of $342.40 implies 18.43% downside risk from current levels.
22 minutes ago
Flurry of trade deals offers relief for some Asian countries, while others wait
BANGKOK -- U.S. President Donald Trump has announced trade deals with Japan and a handful of other Asian countries that will relieve some pressure on companies and consumers from sharply higher tariffs on their exports to the United States. A deal with China is under negotiation, with U.S. Treasury Secretary Scott Bessent saying an Aug. 12 deadline might be postponed again to allow more time for talks. Steep tariffs on U.S. imports of steel and aluminum remain, however, and many other countries, including South Korea and Thailand, have yet to clinch agreements. Overall, economists say the tariffs inevitably will dent growth in Asia and the world. Trump and Japanese Prime Minister Shigeru Ishiba announced a deal Wednesday that will impose 15% tariffs on U.S. imports from Japan, down from Trump's proposed 25% 'reciprocal' tariffs. It was a huge relief for automakers like Toyota Motor Corp. and Honda, whose shares jumped by double digits in Tokyo. Trump also announced trade deals with the Philippines and Indonesia. After meeting with Philippine President Ferdinand Marcos, Jr., Trump said the import tax on products from his country would be subject to a 19% tariff, down just 1% from the earlier threat of a 20% tariff. Indonesia also will face a 19% tariff, down from the 32% rate Trump had recently said would apply, and it committed to eliminating nearly all of its trade barriers for imports of American goods. Earlier, Trump announced that Vietnam's exports would face a 20% tariff, with double that rate for goods transshipped from China, though there has been no formal announcement. Negotiations with China are subject to an Aug. 12 deadline, but it's likely to be extended, Bessent told Fox Business on Tuesday. He said the two sides were due to hold another round of talks, this time in Sweden, early next week. Meanwhile, Trump said a trip to China may happen soon, hinting at efforts to stabilize U.S.-China trade relations. A preliminary agreement announced in June paved the way for China to lift some restrictions on its exports of rare earths, minerals critical for high technology and other manufacturing. In May, the U.S. agreed to drop Trump's 145% tariff rate on Chinese goods to 30% for 90 days, while China agreed to lower its 125% rate on U.S. goods to 10%. The reprieve allowed companies more time to rush to try to beat the potentially higher tariffs, giving a boost to Chinese exports and alleviating some of the pressure on its manufacturing sector. But prolonged uncertainty over what Trump might do has left companies wary about committing to further investment in China. Pressure is mounting on some countries in Asia and elsewhere as the Aug. 1 deadline for striking deals approaches. Trump sent letters, posted on Truth Social, outlining higher tariffs some countries will face if they fail to reach agreements. He said they'd face even higher tariffs if they retaliate by raising their own import duties. South Korea's is set at 25%. Imports from Myanmar and Laos would be taxed at 40%, Cambodia and Thailand at 36%, Serbia and Bangladesh at 35%, South Africa and Bosnia and Herzegovina at 30% and Kazakhstan, Malaysia and Tunisia at 25%. Nearly every country has faced a minimum 10% levy on goods entering the U.S. since April, on top of other sectoral levies. Even after Trump has pulled back from the harshest of his threatened tariffs, the onslaught of uncertainty and higher costs for both manufacturers and consumers has raised risks for the regional and global economy. Economists have been downgrading their estimates for growth in 2025 and beyond. The Asian Development Bank said Wednesday it had cut its growth estimate for economies in developing Asia and the Pacific to 4.7% in 2025 and 4.6% in 2026, down 0.2 percentage points and 0.1 percentage points. The outlook for the region could be further dimmed by an escalation of tariffs and trade friction, it said. 'Other risks include conflicts and geopolitical tensions that could disrupt global supply chains and raise energy prices,' as well as a deterioration in China's ailing property market. Economists at AMRO were less optimistic, expecting growth for Southeast Asia and other major economies in Asia at 3.8% in 2025 and 3.6% next year. While countries in the region have moved to protect their economies from Trump's trade shock, they face significant uncertainties, said AMRO's chief economist, Dong He. 'Uneven progress in tariff negotiations and the potential expansion of tariffs to additional products could further disrupt trade activities and weigh on growth for the region,' he said.
Yahoo
29 minutes ago
- Yahoo
AI and Automation Integration Elevates Laboratory Informatics Demand
The North America laboratory informatics market, valued at USD 1.62 billion in 2024, is set to grow at a CAGR of 4.30% to USD 2.48 billion by 2034. Growth is fueled by cloud-based LIMS, AI, and automation. Pharma and biotech sectors leverage informatics for efficiency, boosting the market with strategic partnerships. North American Laboratory Informatics Market Dublin, July 23, 2025 (GLOBE NEWSWIRE) -- The "North America Laboratory Informatics Market Report and Forecast 2025-2034" has been added to offering. The North America laboratory informatics market was valued at USD 1.62 billion in 2024, driven by accelerating demand for cloud-based platforms. It is projected to grow at a CAGR of 4.30% from 2025 to 2034, reaching USD 2.48 billion by 2034. Informatics solutions, including LIMS, ELN, SDMS, and CDS, enhance data accuracy, compliance, and workflow automation in industries like pharmaceuticals and biotechnology. Innovations in cloud computing, AI, and automation are transforming laboratory data management by improving decision-making, regulatory compliance, and productivity. Market Growth Drivers and Trends Adoption of unified digital platforms is propelling market growth. The integration of LIMS and ELN functionalities enhances data security and collaboration. For example, eLabNext rebranded its key products into a centralised Digital Lab Platform in October 2024, aligning with market shifts toward streamlined management. The preference for advanced ELN systems is positively impacting market size. TeselaGen Biotechnology launched an enhanced ELN in December 2024, improving productivity and data management in biotech and pharmaceutical research. Global collaborations are strengthening market value. LabWare engaged with biopharma entities in Ireland in June 2024, facilitating knowledge exchange and technological advancements in LIMS adoption. Integration of AI and Automation The demand for AI-driven automation is elevating market demand. Funding initiatives support development in automated chemical laboratories, accelerating innovation and efficiency. By reducing manual errors, AI integrations boost LIMS and ELN system adoption, driving long-term market growth. Emerging Trends Cloud-Based LIMS: With significant IT sector contributions to GDP, cloud solutions are becoming essential for efficiency and compliance. Partnerships such as Revvity Signals Software with Scitara drive innovations in cloud-based platforms for R&D. AI and Automation: Initiatives like Scialog and LabVantage Solutions' integration of mixed reality demonstrate a shift towards AI-driven laboratory processes, enhancing efficiency and research competitiveness. Strategic Partnerships: Collaborations, such as those by LabVantage, are fuelling regulatory compliance and workflow automation, offering growth opportunities in laboratory informatics. Market Segmentation and Key Players: The market is segmented by product, delivery mode, component, end user, and region, with LIMS leading due to its pivotal role in sample management and workflow automation. Cloud solutions are preferred for scalability, while software advancements drive component value. Pharmaceutical companies hold the largest share, driven by stringent regulatory demands and R&D investments. Their adoption of informatics solutions enhances drug development and compliance. Major companies include Serum Institute of India, CSL Limited, Bharat Biotech, and CanSino Biologics, further shaping market dynamics with innovative solutions and global strategies. Region Analysis The United States dominates the market with strong R&D investments and digitalisation, while Canada shows growth due to government initiatives and cloud platform adoption. Both countries advance laboratory informatics with investments in data management and AI solutions. Conclusion The North America laboratory informatics market continues to grow, driven by technological advancements and strategic initiatives. The emphasis on AI, automation, and cloud solutions fosters efficiency and competition in the biotech, pharmaceutical, and research sectors. Key Attributes: Report Attribute Details No. of Pages 300 Forecast Period 2025 - 2034 Estimated Market Value (USD) in 2025 $1.62 Billion Forecasted Market Value (USD) by 2034 $2.48 Billion Compound Annual Growth Rate 4.3% Regions Covered North America For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment North American Laboratory Informatics Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
