Target to Offer Online Price-Matching for First Time

It joins Best Buy in attempting to counter online discounts

   

Target to Offer Online Price-Matching for First Time

As the battle to attract holiday shoppers heats up, Target (NYSE:TGT) says it will match prices from selected online rivals.

The discount chain will meet pricing for products found on Amazon (NASDAQ:AMZN) as well as the online stores of Wal-Mart (NYSE:WMT), Best Buy (NYSE:BBY) and Toys ‘R’ Us. Shoppers can take advantage of the new policy between Nov. 1 and Dec. 16, Reuters noted.

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In prior years, Target has matched competitors’ prices in printed advertisements, but this will be the first time it attempts to match online deals.

Target’s policy mirrors a new initiative from Best Buy, under which the big-box electronics retailer will match prices from online vendors in a desperate bid to stem “showrooming,” a trend in which consumers examine a product in bricks-and-mortar stores, and then order it at a lower price online.

Matching online prices isn’t Target’s only new venture. It now sells some items only through its eBay (NASDAQ:EBAY) storefront and is currently testing same-day product deliveries via eBay, but only in San Francisco.

Shares of Target rose fractionally in midday trading on Wednesday.


Article printed from InvestorPlace Media, http://investorplace.com/2012/10/target-to-offer-online-price-matching-for-first-time/.

©2014 InvestorPlace Media, LLC

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