Target Stores to Also 'Price Match'
Wednesday, October 17, 2012 at 8:17AM Foreshadowing an intensively competitive battle this holiday, Target Corp. said on Tuesday that for the first time, it will match select online rivals’ prices in its stores between Nov. 1 and Dec. 16.
Those retailers include Amazon.com Inc.(US:AMZN), Wal-Mart Stores Inc., Best Buy Co. and Toys “R” Us Inc, Chief Executive Gregg Steinhafel said at its media day in New York.
Target will be “highly promotional and intensely competitive” on prices, he said. “Consumer sentiment is still below the pre-recession levels, but improving,” he said. “They are more comfortable making larger purchases.”
Target also will match its own website pricing for the first time between Nov. 1 and Dec. 24. Traditionally, the company, like most other retailers, only matches its local rivals’ print ad prices. Best Buy has reportedly said it also plans to match some competitors’ online pricing. Toys “R” Us plans to only match its competitors’ in-store pricing. Wal-Mart also only matches rivals’ local print pricing.
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