Target matching online prices for the first time. It seems like most retailers are matching prices either in the store or online, and now you can add Target to that chain of competitors with Amazon, Walmart, BestBuy, Toysrus, and Babiesrus. It’s a big move to meet a growing demand.
CEO Gregg Steinhafel says the new strategy to be “exceptionally competitive on price” at a media event Tuesday in New York City.
With the proliferation of online deal and coupon sites, retailers are increasingly trying to compete for in-store purchases and combat “showrooming” — when customers browse products in stores but buy them for less online. Best Buy also announced plans to price match with online competitors during the holidays this year.
Target will match online prices between Nov. 1 and Dec. 16. In stores, customers can show the competitor’s online price for a specific item on their smartphone, or customer service can look it up to confirm.
Target already price-matches for customers who bring in a competitor’s ad for a specific product at a lower price within seven days of a purchase. The company will extend that policy Nov. 1 through Dec. 24 and include items on Target.com.
And in an effort to encourage customers to use its mobile app, redeem mobile coupons and scan QR codes, Target has started rolling out free Wi-Fi and plans to have it in all stores for the holiday season.