Here’s why Target is ending its long-running ‘price matching’ policy this month
Is this the beginning of the end for price-matching policies?
- Target is ending its policy of matching competitor prices from retailers such as Amazon and Walmart, effective 28 July.
- Introduced in 2013, the policy previously allowed price matching with Target.com, Amazon, and Walmart; under the new rules, only Target.com prices will be matched.
- Retail analysts suggest this change reflects Target's ongoing financial challenges and efforts to improve profitability and margins.
- The company recently reported a 2.8 per cent drop in first-quarter sales, falling short of Wall Street's expectations.
- Target has encountered various financial headwinds, including economic uncertainty from a previous administration's tariff regime, rising inflation, and consumer boycotts.