A POPULAR deal at Target is days away from getting slashed and loyal customers are furious.
Some are even planning to boycott the chain as a result of the policy change.
Target to end 12-year-old policy[/caption]
Beginning July 28, Target will end its price matching policy with competitors like Walmart and Amazon.
The new policy will apply internally to its store, app and website.
So if you see a Target item in a store that’s cheaper on its website, you’d get the lower website price.
The news was first broken by a Target insider who leaked a company-wide memo.
The memo read, “Since most price matches happen within Target, we’re adjusting our price match policy to exclusively match our in store, app and Target.com pricing, including Target Plus items.”
OLD SCHOOL POLICY
The former Target price matching policy had been in effect for 12 years.
It allowed customers to request a price match if they found an identical item for a lower price at a competitor within 14 days of their purchase.
The product had to be the same in brand name, size, weight, color and model number.
At the time, Target became the first brick-and-mortar retail chain to offer a price matching policy, according to ABC News.
Nonetheless, other retailers are offering their own price matching policies.
Retailers like Best Buy are still offering a price match against competitors.
Other retailers with price match guarantees include The Home Depot, Lowe’s, Staples, Petco and Bed Bath & Beyond.
Target’s move comes as the retailer struggles to boost sales and foot traffic.
The company reported almost a 3% plunge in sales in the first quarter compared to the same time last year.
Retailers with price match policies
The following retailers still have certain price matching policies in place. Click on each to learn more.
SOCIAL MEDIA REACTS
Following the leak, many Target customers expressed their disappointment online.
One Facebook user said, “I rarely go there, now I’ll go even less.”
Another cried, “Oh wow. They will lose business.”
A third said, “Awww I always price match during the holidays!”
Target did not immediately respond to a request for comment.
