Target Revives Dropped Price-Matching Program
dropped its price-matching program in 2002. That, as they say, was then
because now it looks as though the retailer may be on the verge of bringing
it back. Target has tested the program in two markets since March
15 and began a third in its own Minneapolis backyard on May 1.
retailer has been matching lower prices in its competitors’ ads at 22 stores
in the Orlando area and 28 others in Denver for the past two months. The
chain rolled out its "Unbeatable
Prices. Guaranteed." program
in Minneapolis and Medina earlier this month with the expectation that
it will result in a national expansion of the price-matching initiative.
believes it has figured out a way to get around the problems it found in
2002. Then, competitor prices were verified at the checkout, causing delays
at the front-end. Now, all pricing will be verified away from the checkout
at the store’s service desk.
Delia McLinden, a spokesperson for Target, told the Minneapolis
Star Tribune that the program was being retested because they "want
to speak boldly about value and low prices and give customers peace of
Paul Business Journal pointed out in an article that "Target has been ratcheting
up its emphasis on prices for the past year, as consumers cut back on
discretionary purchases during the recession."
How much will Target’s "Unbeatable Prices.
Guaranteed." program help it achieve a stronger price image with
consumers? Does a program like this risk diluting the equity Target has
built for its brand over the years?
Corp. tests a return to price-matching – Minneapolis Star Tribune
tests price-matching program – Minneapolis / St. Paul