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Target Extends Online Price-Matching; Best Buy May Follow

Minneapolis – Target has made its online holiday price-match policy permanent. 1/09/2013 11:21:00 AM Eastern

Minneapolis – Target has made its online holiday price-match policy permanent.

The program, which specifically targets Amazon.com, BestBuy.com, Walmart.com and Toysrus.com, will provide price adjustments to in-store customers on identical items priced lower on those sites within one week of purchase.

The policy also extends to local competitors’ sales circulars and Target’s own e-commerce site.

Target introduced its first price match policy in 2009 and began matching select online competitors for the first time this holiday season as a way to blunt showrooming. “We know that our guests often compare prices online,” said Target chairman, president and CEO Gregg Steinhafel. “With our new price match policy and the additional five percent savings guests receive when they use their [private-label] REDcard, Target provides an unbeatable value.”

 Best Buy also initiated an online price-match policy over the holiday selling season, but extended it to 20 e-tail sites including Amazon.com, Crutchfield.com and Newegg.com, and those of B&H Photo, Dell, h.h.gregg, HP, Home Depot, Lowe’s, Target, Walmart, the office supply chains, and Systemax’s Circuit City, CompUSA and TigerDirect sites.

Best Buy’s policy ended Dec. 24, but merchandising VP Scott Anderson, speaking yesterday at TWICE’s annual Executive Retail Roundtable at International CES, said the chain is considering whether to make it permanent.

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