Target is ending its price match policy
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Target CEO Brian Cornell said in an earnings call in May that U.S. tariffs were one factor in a number of “massive potential costs” for the company. He also warned that price hikes could come as a “very last resort” after earlier in March telling CNBC that certain goods will “likely see price increases” for consumers.
This major customer perk is going away on July 28, the retailer has announced: Say goodbye to price matching with Amazon and Walmart.
Target announced it would no longer match prices from its competitors, like Amazon, Walmart, and Best Buy, starting at the end of this month.
The changes come after a rough quarter for Target, with sales at stores open for at least a year tumbling 3.8% compared to the same quarter a year prior. This was partly because of tariff-related uncertainty as well as backlash from some customers about its reversal on diversity, equity and inclusion programs, executives said.
Target shoppers are losing a discount option used when the store’s competitors had lower prices listed. Previously, a Target customer could show a staff member a competitor’s lower price on an identical product to receive a discount at checkout. That will no longer be an option at Target as of July 28, according to Retail Dive.