Price Matching; How To Price Match Online & Use It To Our Advantage
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Many people in the reselling world are aware about price matching and that many retailers offer it but I find very few actually utilize it effectively to help their bottom line. In this short guide, I will go through what price matching is, how to do it, the benefits & will also outline some popular retailers price matching policy. What is price matching? Price matching is a policy many big box stores have in place as a confidence guarantee that you are getting the best price. When you find an item at another retailer for a lower price, you can price match the item with the retailer you would like to purchase the item at in store or online. Some retailers take it a step higher and not only price match, but will also beat any price (typically by up to 10%).
Why should I consider price matching?
As mentioned above, many retailers will beat the price they are matching which can add a large chunk onto our profits, especially if we take advantage of this policy when sales are occurring. We can also take advantage of this when a retailer has a price error and stock is limited. Every retailer indicates they will not price match pricing errors however it is a tactic that works quite often if we catch the price error early. How to price match
Each retailer will have their own process on how to receive a price match so ensure you check each store's policy for their individual process but in general here are the two ways to do it: In Store; simply bring in your receipt or advertisement of the competitors price to the store you would like to price match in. Typically the customer service desk will price match the item for you right then and there Online; open a chat with the retailers customer service and send them the product on their website, the link to the product at their competitor and indicate you would like the item price matched. The sales rep generally will provide you a temporary one time discount code to bring the price down of the item in question.
Major retailer price matching policies (as of Sept 16, 2023)
Amazon; as of Sep 16, 2023, Amazon does not currently offer and type of price matching ()
Best Buy; Best Buy will price match any competitor. No additional savings. Online and in store price matching options.() Home Depot; Home Depot will price match any Canadian retailers + provide an additional 10% off. Online and in store price matching options. Online only stores will not get the additional 10% off. ()
Lowes; Lowes will price match any Canadian retailers + provide an additional 10% off. Online and in store price matching options. ()
Rona; Rona will price match any Canadian retailers + provide an additional 10% off (only if the competitor price is lower by at least $1). Rona also indicates the product must be available at the competitor within a 25km radius of a Rona store. ()
Walmart; As of October 2020, Walmart has discontinued their price matching matching policy ()