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New York Post
6 days ago
- Business
- New York Post
Target drops popular perk for shoppers after more than a decade
Advertisement Target is dropping its price-matching policy with rivals Walmart and Amazon after more than a decade as the company aims to reposition itself amid slowing sales and competitive pressure. Under its new Price Match Guarantee policy, taking effect July 28, customers of the Minneapolis-based retail giant will be able to price match other Target products in the store or online within 14-days of a purchase, but the policy will no longer apply to its rivals. The company said the decision was driven by the fact that its 'guests overwhelmingly price match Target and not other retailers.' 'Target's Price Match Guarantee, paired with our commitment to being priced right daily, ensures guests get great prices when shopping Target,' the company said. Advertisement 5 Under its new Price Match Guarantee policy, taking effect July 28, customers of the Minneapolis-based retail giant will be able to price match other Target products in the store or online. AP 5 This policy applies to products in the store or online within 14-days of a purchase, but the policy will no longer apply to its rivals. Christopher Sadowski Target rolled out its very first price match policy, called the Low Price Promise, in 2009. Advertisement If a customer found a lower price at another brick-and-mortar store, the company matched it. Eventually, the company expanded this policy, matching prices from certain online retailers including and during the holiday season. 5 The company said the decision was driven by the fact that its 'guests overwhelmingly price match Target and not other retailers.' Christopher Sadowski 5 Target rolled out its very first price match policy, called the Low Price Promise, in 2009. Helayne Seidman Advertisement In 2013, the company began price matching top online retailers year-round, which then-CEO Gregg Steinhafel said that the move effectively made the company an 'unbeatable value' compared to its competitors in the highly competitive sector. The recent change, however, comes as CEO Brian Cornell works to turn around the company, which has been trying to drum up traffic and return to growth in back-to-back quarters. However, Cornell characterized the environment over the past few months in particular as 'highly challenging.' Target missed Wall Street expectations and cut its guidance for the year during its latest earnings call in May as it contends with tariff uncertainty, declining consumer confidence and backlash over its rollback of its diversity, equity and inclusion (DEI) efforts. 5 The recent change, however, comes as CEO Brian Cornell works to turn around the company, which has been trying to drum up traffic and return to growth in back-to-back quarters. REUTERS To try and get back to long-term profitable growth, the company developed a new multi-year growth initiative, called Enterprise Acceleration Office, and made changes to its executive suite. The Enterprise Acceleration Office initiative, led by Target Chief Operating Officer Michael Fiddelke, will specifically help the company operate more nimbly, 'creating conditions for speed, adaptability, innovation and resilience,' Cornell said. Target said in its latest earnings that it expects a low-single digit decline in sales for fiscal 2025, down from its previous forecast of net sales growth of about 1%.
21-07-2025
- Business
Target will end longtime price-matching policy: Find out when
Target is ending price matching of products sold for less at its competitors' stores and websites. For 12 years, Target customers who found a product that was sold for less on Amazon or Walmart's websites could request to buy the same product that was sold at a Target store at the lower price. But the nationwide retailer confirmed to ABC News Monday that it was updating its longtime "Price Match Guarantee" policy, removing the price match with competitors and only keeping the match for products with price differences that were sold in Target stores and on Target's website. "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 in a statement. Target said the change would go into effect on July 28. "Price Match Guarantee" policy. Target first introduced its "Price Match" policy in 2013, becoming the first brick-and-mortar retail chain to launch price matching of products, often sold for cheaper online. The change at the time was supposed to be a permanent update. Target's sales have recently taken a hit, with the chain retailer reporting May a sizable decrease in its first quarter earnings, down from $24.5 billion in the first quarter of 2024 to $23.8 billion in the first quarter of 2025. At the time, the retail giant said customers weren't shopping as much in its stores and cited a backlash to Target ending corporate diversity initiatives and uncertainty amid tariff increases.
USA Today
21-07-2025
- Business
- USA Today
Target to end price-matching of Amazon, Walmart. What to know.
Target is ending its guarantee to price-match Amazon and Walmart on July 28. A spokesperson for the retailer confirmed the policy change to USA TODAY. Beginning July 28, Target will only match its own in-store and online prices at if the price drops within 14 days, the spokesperson said. "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," Target said in a statement released to USA TODAY. "Starting July 28, we'll update our Price Match Guarantee policy to reflect this, allowing consumers to continue to shop with confidence at Target stores and What is happening to Target's price-match policy? Target's current price-match policy says "We'll match the price if you buy a qualifying item at Target and then find the identical item for less at Amazon, Walmart or with a Target Circle™ deal (deals that apply automatically upon identifying yourself as a Target Circle member). Price matches may be requested at time of purchase or within 14 days after purchase." "Target's Price Match Guarantee, paired with our commitment to being priced right daily, ensures guests get great prices when shopping Target.," the statement from the retailer said. Eliminating the price match for Walmart and Amazon items, "generally speaking puts us in line with what the rest of the industry already does," a spokesperson for Target told USA TODAY. Neither Amazon nor Walmart currently match competitors' prices. Walmart ended the practice in 2019. Walmart's policy says it will match the price of the identical item advertised on for purchases in a Walmart store and the store manager has the final decision. Walmart does not price match items purchased from its website or products sold by competitors. It also won't match the price of an item previously purchased on that now costs less. Additionally, Walmart doesn't price-match items available through Marketplace on or third-party sellers or items in its Neighborhood markets. On its website, Amazon says of its price-matching policy: "we constantly evaluate Amazon's prices to offer customers low, competitive prices every day. As a result, we don't offer price matching." There are still retailers who have a price-match guarantee. Best Buy's policy will match the price of a new identical product. It must be a matching brand, model number and color. End of price matching at Target is bad news for consumers Ending the competitor price match at Target is "a deterioration in customer service,'' said Neil Saunders, a retail analyst at the research and analytics firm GlobalData. "But to be fair to Target, it is simply bringing it into line with most other retailers. There is a sense that perhaps Target was being too generous with its price matching policy." "Price matching is more important on big-ticket items, such as appliances and electronics, as these goods are expensive, and shoppers are very active in making price comparisons," he said. "It is also easy to compare items as they are usually brands and carry specific model numbers, which are easy to research online." End of Target price match policy is financial, analyst says While Target's policy change brings it in line with other retailers, the move also helps simplify processes and protect profits, said Saunders. "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," Saunders 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." Consumer boycotts: Target donated $300,000 to a Black church group. Why boycott activists want it returned. Retailer has been target of consumer boycotts Target has also been struggling, along with other retailers, this year, from slumping sales as shoppers face economic uncertainty, including worries about rising prices due to tariffs. Target slashed its annual forecast during its last earnings report on May 21, reporting a sharp fall in quarterly same-store sales as customers pulled back on purchases because of worries about inflation and the economy. Target also acknowledged that its performance was affected by consumer boycotts. There have been several boycotts by consumers angry that the retailer has retreated from its diversity, equity and inclusion efforts. Two separate actions initiated by members of the Black community continue to encourage people to not to shop at the retailer temporarily or permanently. When asked if financial struggles, including tariffs and consumer boycotts, affected Target's decision to end its price-matching policy, a Target spokesperson said the policy was changing due to shoppers mostly price-matching Target products and not competitors. Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at blinfisher@ or follow her on X, Facebook or Instagram @blinfisher and @ on Bluesky. Sign up for our free The Daily Money newsletter, which will include consumer news on Fridays, here.
