Price-matching, a marketing technique implemented by some department stores and electronics stores, is a formal policy implemented by some stores to prove to the general public that their prices are so low, that they guarantee they will not be beat by their competition's prices. In essence, it's a brilliant move on their part: consumers tend to take comfort in the fact that they are paying lower prices than average if they shop at these stores. But are they really getting the best price? Some customers shop at these stores that offer a price match policy without bothering to check flyers, on-line, or other stores to see if better prices are being offered elsewhere on identical products. A marketing technique at it's best? Perhaps. Those stores offering price match policies have certainly gained a loyal and steadfast clientele, pushing sales soaring skywards.
Success breeds imitation and eventually nearly everyone was offering this type of price-matching policy, so with the hope to gain an advantage over their competitors, another concept was added to price matching is that some stores now choose not only to price match, but to actually beat their competitor's price, usually by a set percentage of the price difference. This particular price match policy is one that is extremely advantageous to those consumers who are willing to do their homework and complete a successful price match. For example, let's say that a game pad for the PC regularly retails for $39.95. Another store advertises it as being on sale, 1/2 price, for $14.95. The price difference, if beaten by 110% of the difference and the final price comes out to no more than $11.45 plus taxes, even better than the sale price! Now that's a deal!
Unfortunately though, many consumers are unaware of the specifics of how to price match at a local or on-line store or they are too intimidated to ask for a price match. But the fact is: a consumer who is prepared at the till or on-line order checkout cart [with tangible proof, such as a dated flyer or website price of a lower competitor's price of the same in-stock item] can often obtain deals that fare far better in price than just your average sale price, with minimal effort, and in almost the same check-out time at the till. It's not difficult to ask for a price match, nor should it make one feel uncomfortable. In fact, a price savvy consumer can feel good about letting a store (that guarantees the lowest prices) know that a lower price on the same item is being offered by their competition. It helps them to keep their prices low, as promised, thus making it a win-win situation for the store, by keeping/gaining clientele, and for the consumer, who gets the item at an incredibly low price match price. It can even pave the way for the next customer to purchase that same product, who may be unaware of price match policies. After you complete a successful price match, it is generally brought to the attention of the store's pricing department, whereby they will usually lower their price to meet the price of their competition, to eliminate the product's profit loss that results in processing price match transactions.