Target to Offer Online Price-Matching for First Time

by Christopher Freeburn | October 17, 2012 12:09 pm

As the battle to attract holiday shoppers heats up, Target (NYSE:TGT[1]) says it will match prices from selected online rivals[2].

The discount chain will meet pricing for products found on Amazon (NASDAQ:AMZN[3]) as well as the online stores of Wal-Mart (NYSE:WMT[4]), Best Buy (NYSE:BBY[5]) and Toys ‘R’ Us.¬†Shoppers can take advantage of the new policy between Nov. 1 and Dec. 16, Reuters noted.

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[6] 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[7]) 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.

Endnotes:
  1. TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT
  2. match prices from selected online rivals: http://www.reuters.com/article/2012/10/16/us-target-meeting-idUSBRE89F1QY20121016
  3. AMZN: http://studio-5.financialcontent.com/investplace/quote?Symbol=AMZN
  4. WMT: http://studio-5.financialcontent.com/investplace/quote?Symbol=WMT
  5. BBY: http://studio-5.financialcontent.com/investplace/quote?Symbol=BBY
  6. will match prices from online vendors: http://investorplace.com/2012/10/best-buy-gets-aggressive-plans-to-match-amazons-prices/
  7. EBAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=EBAY

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