Target puts an end to a prize correspondence policy that for 12 years old Authorized customers to request price correspondence if they found an identical article with a lower cost among Amazon or Walmart competitors.
THE policy Allowed price correspondence if buyers could provide proof of the lower price within 14 days of their purchase. The product had to be identical in the brand, the size, the weight, the color and the model number, and had to be sold and filled by Amazon or Walmart, according to the target policy.
After July 28, customers will only be able to ask for a price match for products sold on Target or Target.com, not the competitors Amazon and Walmart, according to a spokesperson for Target. The company said it ended prices for the products sold by the two rival retailers because “guests to a massively price match goal and not other retailers”.
Target presented The prize correspondence policy of its competitor in 2013. At the time, the former CEO and president of Target, Gregg Steinhafel, said that politics offered “unbeatable value”.
Other retailers who have pricing policies include Best purchase And Home Depot. Walmart Also has a price counterpart policy, although it is for Walmart.com, not the competitors.
Target’s decision to end his price counterpart policy arises while the retailer is struggling to increase sales and store traffic. In its most recent income report Released in May, the company declared a drop of almost 3% of sales in the first quarter compared to the same period last year.
At the time, the CEO of Target, Brian Cornell, said that the retailer was sailing on an “exceptionally difficult environment”, citing the decline in the confidence and uncertainty of consumers concerning prices such as certain front winds.
Other retailers are also faced with challenges as consumers withdraw expenses. Consumer confidence in the board of directors HintWho follows the feeling of Americans towards business and labor market conditions, fell 5.4 points in June, a sign that consumers can be more cautious about the state of the economy.
contributed to this report.
