Target Corp. introduced an online price-matching program just for the holiday season, but now it looks like it’s permanent.
The Minneapolis-based retailer announced today that it will allow customers to use Amazon prices for its products on year-round basis. The company will do the same for prices from Best Buy, Walmart and Toys R Us, but Amazon often has lower online prices and would appear to be a bigger threat to Target’s brick-and-mortar stores.
Best Buy did the same thing this holiday season. It’s a move that tries to eliminate “showrooming,” the term used for when customers go into a physical store to try and feel products, then head home and buy the product online for a cheaper price. I do this at Best Buy all the time — I’ll find a product I like, then use one of the demo laptops to start researching cheaper prices online.
Target will allow customers one week to price-match Target products if they find the same item at a lower price in the following week’s printed ad or website. Amazon only offers price matching for televisions.
The move comes after Target reported flat December sales from last year. Matching some of Amazon’s super-low prices might hurt Target’s bottom line, but CEO Gregg Steinhafel doesn’t think showrooming is that big of a deal, at least in terms of profit.
Previously on GeekWire: Amazon embarrassed after sending premature congratulatory emails to Alabama, Notre Dame fans