Now It’s a Trend: Target Jumps on the Price-Matching Bandwagon
Earlier this week, Target announced that, like Best Buy and Toys R Us did recently, it would be joining the price-matching game this holiday season. The company said it plans to match the prices of online retailers as a way to stay competitive during the holiday shopping season.
While this is certainly not the most original move Target has ever made (it is known for highly creative marketing events), it does appear to be a natural retaliation against its competitors mentioned above. But the real foe here seems to be Amazon, whose price-checking app gives consumers the chance to instantly compare in-store prices with what the Web-retail giant has on offer. If companies like Target and Best Buy don’t react quickly to this changing landscape, they’re likely toast.
Still, Target is hopeful that by fiercely competing with online retailers that they will be able to secure a chunk of the $96 billion projected to be spent online this holiday season.