A Target store in Wilsonville, Ore. near Portland.(Photo: Rick Bowmer, AP)
For the first time, Target will match prices with online competitors
this holiday season, including Amazon.com, Walmart.com, BestBuy.com,
Toysrus.com and Babiesrus.com.
The move is part of Target's
strategy to be "exceptionally competitive on price," said CEO Gregg
Steinhafel 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.
USA Today