The Price Match Guarantee

We have constant access to almost everything due to the internet. We are able to tell how much a sweater is at Walmart to how much it is at J.Crew to how much it is at a small boutique in Idaho. With technology giving us access to everything, companies have become very price transparent. We know how much a product is at any store in any location.

For example, a Louis Vuitton bag in Europe is significantly less than the prices in America and the only way you would know that is because of the internet and the access we have to the world. With the smart phone we have become smart consumers. Today’s customers are well informed on what they want, where they want it from, and how much they will pay for it. They go into the store knowing a lot more about the products than the consumer used to know. We used to go into the store and ask the salesperson for what we should get.

A major problem companies are facing today is showrooming. Since consumers know that they can buy a product online for a cheaper price, they go into the store to actually look at and hold the product. Companies like Walmart, Target, and Home Depot are facing this issue because Amazon has the same products for a cheaper price. Also, consumers just stay at home and do some online shopping in their pajamas and the product shows up at their door in a mere 2 days.

To combat showrooming, companies have realized that they can use their price transparency to their benefit. Since we know how much products are at other stores we choose the cheapest option. Companies are now using a Price Match Guarantee. This means that if the consumer brings in proof that the same product you are buying is cheaper at a different place, you can get it that price. This means that competition will not be based on the price of the products now because you will be able to get the same price everywhere. Now, the competition will be based on brand loyalty, convenience, preference, and experience. Companies have to set themselves apart from each other in different ways because prices will be the same.

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23 Responses to The Price Match Guarantee

  1. Sandeep Mishra December 2, 2015 at 6:11 pm #

    I have to agree with the author on their point about how pricing is becoming very transparent at many companies. People have the power to get the best price and so many companies are matching the price of products that are lower at other stores. Although I think this is a great way to make buyers more loyal to a store rather than picking a store due to their price, it has to have a bad impact for many businesses. The profit margin goes down from what you need to manage and uphold your company. This means that if more buyers opt for this price matching deal it causes lower margins on many if your products. I mean what if the match price is lower than what you bought the product for and you lose money. I think that stores can not do this for long as it would hurt them long term in terms of revenue. I think that this new strategy is a great option for the buyers but a concept that may hurt businesses in the future. It will become difficult to provide these deals if you can not get the same price on a product that a competitor received. I feel that many industry will be moving to online shopping as it is easier to just ship to the consumer and not really have to have it shelves requiring store space and people to manage those products.

  2. Joseph Belli December 3, 2015 at 11:49 am #

    I almost never leave the house to buy anything anymore. Being a first year college student who does not have his car on campus, I have very little access to big name stores. Of course I could take an Uber or have a friend give me a ride, however, these are not the only reasons. Online shopping is simply a lazy-man’s best friend. Why would I waste my time to get dressed to go buy something that I can easily find online and wait the two days for it? Services like Amazon with their prime membership option have basically allowed consumers to never shop in physical stores ever again.

    Online marketplaces are slowly, but surely, eliminating the need for physical stores. As mentioned in the article, one challenge these stores are attempting to combat is the lower prices online. Whenever I see a product that I am interested in, I immediately go to amazon to see if I can get it for cheaper than advertised at the original source. I have never once taken advantage of a Price Match program. I feel as if you waste more resources trying to prove to a retailer that there is a cheaper price at another source, rather than ordering it from that original source in the first place. Of course, if time is an issue and you truly need something that day, locating something on Amazon and driving to Best Buy to pick up that product is obviously more effective than waiting the two days. I feel as if these people, those who need instant gratification for purchasing a product, are the target audience for the Price Match Guarantee.

    Thinking back on a few experiences that I have had, there were a few instances where I could have taken advantage of the price match program at a store, and simply did not. There was once an instance where I wanted to purchase a portable Bluetooth speaker. I found the one I wanted on Amazon and was very close to ordering it. However, I wanted to ensure I was getting the best bang for my buck, so I drove to BestBuy to test the product. After going to BestBuy and trying out the speaker I wanted, I realized the price was cheaper on Amazon, so, I decided I would order it from there. Keep in mind, BestBuy does have a price match program. So, while I was in the store, I could have easily taken advantage of this opportunity and had the product that day, rather than waiting the two days for shipping. I simply ignored the program that BestBuy created to prevent this, and while it may not have truly had that large of an effect on me, I could have simplified the process.

    I understand that companies are doing this to try to keep business steady and attempt to keep up with the quickly growing online retailers, but a few questions I have are: how are price matching programs affective the businesses that use them? Are they benefitting them, or hurting them due to the fact that they sell products below the MSRP?

  3. Marquise Moseley December 3, 2015 at 1:19 pm #

    I personally have a hard time talking to people face to face when trying to determine what I want, so that is why I have begun shopping online. I feel like there are a lot of people with different problems that keep them from going to the actual store to shop. The biggest problem that I believe keeps people from going to the store is probably the difference in price, but after reading this article if most stores really are honoring their word with price match guarantee this will soon change. If this is really a thing then it would not make sense to order things offline as much anymore because you can now go to the store, get the product that same day, and the best part is that you can get it at a really good price if you can prove the price is lower somewhere else. The only thing about this now is that you will have to do a little more research on the item you want before you make your way over to the store.
    It is way more convenient to do your shopping online because there are some basic things that you no longer have to worry about such as: getting dressed up to go out, long lines when checking out, and the possibility of the product not being in stock. With online shopping you can order the product you need while being in bed in the clothes you slept in, you do not need to worry about checkout lines, and if the product is out of stock you at least know that without making a trip all the way out to the store to find this out. Online shopping is the reason why physical businesses are struggling. Parents no longer have to take their kids to the store and thus allowing them the chance to shop without constant nagging for other products. Stores purposely put the things kids love lower on the shelves and closer to the front of the store, so that parents have to walk past all of the goods kids love to get what they actually came to get. That usually leads to parents being pressured into buying things that they had no intentions on buying. Online shopping greatly reduces these surplus costs, and is a big reason people use it.
    I honestly think that the idea of price match guarantee may be able to keep the physical businesses a float. It is a great idea, but at the same time I feel like it may hurt businesses. Not all businesses get products for the same price, and by needing to match the price of its competitors it may hurt their business by bringing in less revenue than what was paid for the product. Sometimes it may even force them to sell these products below the price they need in order to make a profit, but it is the only chance these physical stores have left. I am not sure how much longer it will work out for them, but I do applaud the decision making to try and keep the business going.

  4. B.Brar December 3, 2015 at 4:09 pm #

    Price match guarantee is a huge problem in retail. I worked at Home Depot where we would price match competitors like Lowes and give the customer an extra ten percent off. That same Home Depot did not price match Amazon because of their low prices and if they did they wouldn’t make any money. With everything on the internet, it so easy for the customer to find the cheapest price for a product or even just buy it directly from the manufacturer. Another problem retail stores are facing is showrooms like you said. I am guilty of doing this. I would find a product online then go to the store and check out it. Afterwards I would purchase the same product online through a different company because of the price difference. Even though the internet exposes everything to the public companies have to figure out a way to price products competitively and still make a profit.

  5. Andrew Lentini December 3, 2015 at 5:55 pm #

    The internet is a beautiful thing it has everything we need right at the tip of our fingers. It has changed the game of online shopping forever. Black Friday is the biggest shopping day of the year millions and millions of Americans hit the stores the day after thanksgiving to get the best deals possible. Now many stores are opening up at 6pm to accommodate for the large number of people that want to shop right after their thanksgiving meals. People have waited on lines outside of stores for many hours even days just to get the best deal on products. Every black Friday you are always hearing these stories about how someone died from the mob of people. The one story that stuck out to me is at Walmart. When people were trying to get into the store at midnight they all started to rush the glass doors. The glass doors could not support the weight of all the people so they collapsed. A Walmart worker was under the door and it crushed them and kill them. This is such a sad thing to hear all over a little shopping. After Black Friday comes the following Monday which is called Cyber Monday. Cyber Monday is the biggest online shopping day of the year. Online shopping is so easy because we can go on multiple sites at any time and see everything they have even stuff that is not in the stores. We are given access to anything and everything you want all by the click of a mouse. Most people when we go on the internet we know what we want to buy. Advertisers will try and show us ads for things we like just so we will buy them. Online shopping is better than shopping at the store for many reasons. Shopping at the store is very annoying because you only have access to that product and have nothing else to compare it to. With the internet you are able to compare prices instantly. Knowing the product you want before you go on the internet will help you a lot. This will allow for you to open up multiple tabs of this product and see which web site has it the cheapest. Many companies are now focusing on something called price match guarantee where they will match the same price for the same product that is sold at a different store. You must bring in proof that the other company is offering it at that price and you will get your item for that price also. This will help to get the same prices for everything at every store you go to. My only question with this is why would I go to target where an IPad is $200 but at Walmart it is $180. People are wasting their time going to the cheaper store to get proof that it is actually cheaper when they can just buy the product at the cheaper store and not have to do as much work. Online shopping has changed the retail industry forever. I can now wake up from a long night out reach for my computer and in a couple clicks have my new favorite shirt ordered. I forgot to mention with Amazon you can get free 2 day shipping on many things.

  6. Allison Yashay December 3, 2015 at 7:27 pm #

    I am a bargain shopper. If I can find a dress that I love for less or with a discount, then I’m all for that steal! But as my tastes are growing a tad bit more expensive, I know that I have to find ways to not break the bank. I agree with Makkar, “technology giving us access to everything.” Therefore online shopping is becoming the preference for many people. Online shopping can save customers quite a bit of money, especially using a discount or promo code. Websites like Retailmenot.com provide customers with thousands of coupon codes. Now instead of getting a Calvin Klien sweater dress at Macy’s for $100, I can get 15% off and free shipping. Hunting for the right deal have become many people’s ideology when it comes to shopping. One interesting point that was made was that “problem companies are facing today is showrooming. Since consumers know that they can buy a product online for a cheaper price, they go into the store to actually look at and hold the product.” There are certain items I avoid buying online unless I know the brand well. If it is a new store, I would prefer to see the item in person. To combat showrooming, companies have realized that they can use their price transparency to their benefit. Since we know how much products are at other stores we choose the cheapest option. Companies are now using a Price Match Guarantee. This means that “if the consumer brings in proof that the same product you are buying is cheaper at a different place, you can get it that price.” This further explains that “competition will not be based on the price of the products now because you will be able to get the same price everywhere.” Now, the competition will be based on “brand loyalty, convenience, preference, and experience.” Companies have to set themselves apart from each other in different ways because prices will be the same. I think more companies should lean to the Price Match Guarantee. I have seen large companies like Walmart and Target advertise this promotion on television. Hopefully more companies will make the transition. Online shopping is the wave of the future. More companies have to adjust their retail selling to match that of their customers. If they know that their customers can get their product at a lesser cost, then the company needs to keep their cliental by providing a price match guarantee.

  7. Yonjery Perez December 3, 2015 at 7:31 pm #

    The fact that we can use the Internet to compare prices from different stores and websites is beneficial. I agree with Prachi Makkar when he said, “With the smart phone we have become smart consumers.” I agree with this quote because face it, most people want to purchase a product at the cheapest price possible in order to save money. With smartphones, people are able to look up different prices of a product and make a smart consumer choice. In addition to comparing different prices of a product, the consumer can get information and other consumer’s feedback on the product. This is beneficial because the consumer knows specs about the product before purchasing. This also saves the hassle of going to the store and asking a salesperson about information on the product.
    Companies are in fact facing a major problem now and days known as showrooming. Since consumers know what they want to buy and could get it for a cheaper price on the Internet, they go into stores and take a look at the product but have no intentions of buying. In order to solve this problem, many stores have used a solution known as price matching. Price matching occurs when a consumer brings in proof of the price of a product at a different store or online and the retailer matches the price in order to convince the consumer to purchase the product from them. Ever since coming up with this solution, many retail stores have brought in customers and convinced the customers to buy from them.

  8. Isabel Goodman December 3, 2015 at 8:33 pm #

    It is hard to fid the benefit in buying anything from a brick and mortar storefront anymore now that everything is online and our products can arrive to us with just a small delay of two days. Thanks to Amazon and their 2-day delivery guarantee with Amazon Prime and their cheap prices, retail stores are having a hard time competing. This post really shows the difficulty companies are having due to the online competition they are facing and the consumer’s ability to access any information they want regarding a product and the same product in different stores with their own prices. Not every store has the same price for things and that used to be widely accepted, but not anymore. The Internet has cracked open secrets that customers are now using to have the advantage over companies and their stores. Because the consumer can see the prices of everything anywhere, they are able to determine the correct price for the good and also the one that gives them the lowest price in order to save money. This is threatening to businesses but in order to stay competitive they have developed a tool, the Price Match Guarantee that lets consumers get the best price for a good based on their knowledge of other store’s prices. This is an effective marketing tool as well because it will bring customers into the store because it promises the best and fairest prices to all with the knowledge. While I applaud them on this, I find faults with it as well. In order for the customer to get the best price, they have to know the prices at other stores offhand and prove it. This seems time-consuming and we all know that time-consuming activities are not something we typically enjoy, especially in today’s times. So in order for the consumer to get the fair price they must do their research. I certainly know people who would go out of their way to find the best price for this Price Match Guarantee, but of all the customers who shop at a Walmart, for example, they would only be a small percentage. Most people just take the price that is given to them as the price that it is. If they have a coupon, great. If they don’t, whatever because it’ll be an extra couple of cents. The society we live in is quite hypocritical. We love to save money and always want the best price for everything, but then we are too lazy to really seek out the best price when the option is given to us to save some money. I believe that is truly why online shopping is so successful. Amazon in particular is known for their low prices and consumers take them for their word. Amazon is cheap, reliable, and fast and in today’s society what else can we want? The reality is that online shopping is here to stay. Regardless of Price Match Guarantees and any other gimmick companies try with their retail stores, technology will always win out in this activity. It has all the right components to fit the needs of the current consumer.

  9. Ryan Skolnick December 4, 2015 at 11:37 am #

    The idea of price match guarantee is very interesting, one that I personally have seen a lot throughout multiple different companies. The idea of price matching completely disrupts what most individuals would consider the only differentiator in a war between companies. Walmart no longer has the cheapest price— it can be any store, as long as you show that the price is cheaper. This means that it will come down to which store is truly your favorite to shop in. If I do not like Walmart for whatever reason, I can just take my business to Best Buy and use their price match guarantee. One interesting thought though is that a lot of stores are putting a limit to their price matching: they do not price match everything. For instance, I believe Best Buy only price matches off of Amazon. Are they the cheapest price? Perhaps, but maybe not. It is definitely an issue with their personal price matching.

    I have seen this shift from lowest prices to price matching occur in the major companies, but smaller companies still do not have price matching. For instance, when buying trading cards, there is no such thing as price matching. Most stores go by TCGPlayer low, but add in a few extra bucks to make it even more profitable for themselves to sell the card. And if you are selling a card, you can forget getting its actual value. Stores give you only 40% of what the card is actually worth, claiming that they need to “make a profit” at TCGLow, even though the price is designed to make profit. The trading card gaming stores have gotten extremely greedy and are being beaten out by selling cards online. There is no price match guarantee, but you can find cheaper cards then in stores 100% of the time. Even if a source is more expensive, people will go with them because they are reliable.

    The Internet has given us the power to check prices and make sure there isn’t a better price somewhere else. For unique products such as handmade products or video games without wide distribution, this has little to no effect. But for the companies like Walmart, Target, and Best Buy, it has had a huge effect on their businesses. I remember hearing a guy at a trading card game store mention how he hates the fact that anyone can just look up the price of a card on their phone because he can no longer take advantage of new players. Personally, I am glad that there is the Internet just so that guy can no longer take advantage of new players. Even then though, it still happens. Older players will convince newer players that the prices will go up, just to get cards. Since the prices are so high (ranging anywhere from $.05 to $27,302 per card) there is a lot of competition to procure the best and most expensive cards for a cheaper price. I remember when I was just beginning to get back into the game, a guy swindled me into trading him my $30 card for a $25 card, claiming that it would gain value. In fact, the exact opposite happened and the card I traded away now goes for $75 while the card he gave me goes for $20. This happens a lot, especially in Magic: the Gathering. Prices will fluctuate, but mostly, they will remain the same. This is mainly due to eternal formats, or formats where the cards remain legal for play in. In the case of eternal formats, only additions to ban lists will cause the price of a card to drop. Well, that and reprints, but those rarely happen (although they have been happening quite frequently). Even in the case of reprints, the older versions usually only tank about 10% of their value.

    The Internet has completely changed the rules for buying and selling. Companies now have to have different mission statements other than just having the cheapest price. Now, it comes down to value.

  10. Matthew Flanagan December 4, 2015 at 1:04 pm #

    Price transparency is something that comes with the technology of our time. We live in the age of information where a world of knowledge is literally at our fingertips. We have access to almost anything we want to know just with a few taps on the screens of our phones. There is now a very limited amount that we can’t look up on the internet. This translates onto consumerism in America. Consumers are more informed than they ever have been. Personally, I never go out to buy something without looking online to see how much it costs beforehand. Really, the only reason I still shop in stores instead of online is because you get better deals for walking in a store.
    Price match guarantees are a nice thought, but I don’t think that they will ever be utilized to their full potential. Companies are trying to combat the lower prices that are achievable online by lowering the prices of their products, but why would the company make the consumer prove that there is a lower price when the consumer could just buy the product on that website instead of doing all that work? I honestly can’t see anyone using Price matching because you may as well just buy it online. This is nothing but a desperate attempt to keep people coming to stores.
    Personally, I enjoy going to the store to buy things instead of doing it online, not only because it gives me a chance to get out of the house, but it is much more fun than sitting in my bed and clicking a few buttons. Going to the mall with a group of friends and shopping is one of the most common social experiences that there is. People think that all shopping will be done online, but the fact is that people love to go out and shop and buy things with their friends and family. The shopping experience will never be replaced by computers no matter how low the prices are online.
    I don’t think that it is a huge problem that online prices are lower than in store prices. You can get better deals in stores and you have the convenience of having whatever item you need immediately instead of in 2 days. If all of the stores in America get replaces by holding facilities that just ship things to people’s homes, there needs to be a way for products to be there, not over night, but within minutes. Also, there will need to be something to replace the social experience that comes with shopping. Shopping online is physically not enough to keep someone entertained for hours.

  11. Rushil Gandhi December 4, 2015 at 1:20 pm #

    We find ourselves living in an economic world where the consumer is informed about prices and quality more than ever before. These days when one walks into a Walmart, BestBuy or Target they know exact what product to buy with a specific brand, price and quality. Gone are the days of actually asking the sale representative inside the store to explain the major similarities and differences between products and brands. The advanced knowledge consumers have today can be traced directly back to the implementation of the Internet in our society. The increased consumer knowledge is simply a consequence of the “The internet age”. For consumers, the prices and reviews of most products are quite literally available at their fingertips. Like the author claims, we have become smart consumers and the brick & mortar establishment are struggling due to it. No longer do we hit the local stores to find the cheapest prices, we browse through the classifieds of EBay and Amazon. These firms have changed the way consumers shop and the price-match guarantee is a mere technique used by companies like Walmart to persuade consumers to shop from brick and mortar establishments once again. However, the price-match guarantee does have its draw backs. Oftentimes companies require extensive proof of a cheaper price before the consumer can activate the price match guarantee and in a society where everything is geared towards ease of use and time efficiency, the price match guarantee seems a little bit cumbersome. To be honest, I possess the opinion that a price match guarantee is a marketing trick just to get customers through the door by firms like Walmart and Target. I don’t believe that these firms will actually abide by the price-match policies rather they will keep asking the consumer for more proof of a cheaper price. It’s a move taken by these companies to compete with the likes of Amazon. One thing that brick and mortar stores are increasingly become is a showroom for products that can be found on the internet for a much cheaper price. I often find myself doing and I may be speaking quite a few of us. We often go to the local BestBuy, for instance, to physical touch, see, feel the technology products we are in the market for. Rather than buying the item at the store one would walk out and buy it at home from the likes of Amazon at a cheaper price. In essence, the physical stores are turning into showrooms for consumers to feel the product before they order it. The author of this post well to touch on this point and its inclusion contributed to the overall brilliance of the post itself very well.

  12. Aaron Varghese December 4, 2015 at 5:05 pm #

    Prachi’s blog post regarding the disruptions regarding price transparency brought up some very good points. The internet has proven to be an incredibly useful tool for accessing all sorts of information. This information includes information regarding the price of products that we desire. For the longest time, people would enter a store, and blindly purchase items, not knowing if they had just closed a good deal or just got swindled out of a significant amount of money. The truly prudent consumers had to do a great deal of research, checking around the area what the price was of certain product or just waiting till a sale on that product came around in a particular store. With the rapid growth of the internet, all aspects of the brick and mortar stores are in jeopardy. Not only can consumers see the price of a product, they can potentially locate where the best deal lies. And most of the times, this best deal is found through the use of online retailers like Amazon. This alone puts the physical stores in big danger. With price transparency, many consumers will be able to know the price range that is universally just and know if they are actually getting a good deal somewhere. In addition, the fact that online retailers have both cheaper products usually and also allow more convenience is another big problem for stores. This is definitely true during the times of the holidays. This is always known as a time of ridiculous chaos in stores as people rush from store to store looking for the right gift for their family and loved ones. Now that the internet’s abilities has exponentially grown recently, people can not only avoid the hustle and bustle of trying to find a gift while also using the internet to locate the perfect gift that could be found in another state or even country but can be attained through online purchasing. Physical stores have big dilemmas in regards to these revolutions brought on by the internet. But the classic theme in disruption technology still prevails in this scenario. And that is, you can either take advantage of the disruptions, or let the disruptions leave you in the dust. You cannot stay in the old to combat the new anymore. It is not possible. What is possible is to be able to adapt and utilize your creativity and imagination to weave the disruptive technology into your business, staying with the evolving society. This is definitely true as we see companies using the Price Match idea and implementing online retailing as well(Example: Shop Rite from Home). With Proce Match, brick and Mortar stores are able to motivate consumers into coming in their stores, knowing that they will be able to get business while the customer usually knows that they will be able to get the best deal based on their research. This is a great example of how physical stores and businesses are able to use the information of the internet as an ally and stay competitive with the growing online retailers. While there are still other disruptions to come, the old ways of the past can indeed still survive as long as they know how to effectively implement the new advances into their previous ways of doing business.

  13. Alex Vovk December 4, 2015 at 5:52 pm #

    One of the more welcome disruptions to the way companies currently do business in response to the technological innovations and the widespread use and availability of Internet is the policy of the guaranteed price match. When I say the disruption is welcome, I mean that it is welcome by the consumers who, instead of going to the store to just feel, smell, touch, or try on the product they intend to buy online to get the best price, now have the option to request a price match if they can show that the same or comparable product is available somewhere else for a lower price. In her latest post on DT&L Blog titled “The Price Match Guarantee”, Prachi Makkar discusses the trend and its implications for the shopping public as well as on the companies that offer price match guarantee.

    The speed with which Internet and related technologies have evolved over the past 40 – 50 years, from its humble beginnings as the proprietary computer network at the Defense Advanced Research Projects Agency within the US Department of Defense in the 1960’s to the ubiquitous networks that connect everything and everyone all over the world, is nothing short of amazing. With a few keystrokes on our smart phone, tablet, or laptop, we can instantly get the news from any corner of the Earth, order flowers or gifts for a friend or relative on the other side of the continent, pay our bills electronically, or do the holiday shopping without leaving the house.

    This immediate access to information created a more sophisticated, informed, and discriminating consumer, and forced the companies to recognize this fact and adapt to the changes in the way customer research the products and make their purchases. These days, when the potential customer walks into a store or a showroom, the salesman should expect to deal with a consumer who is prepared, armed with detailed information on the product, and who knows where to get the best price. That is, if the customer actually makes it to the store and doesn’t choose to complete all the purchases online. The latest data and compiled statistics from the most recent Black Friday shopping events show that the in-store sales are declining. Customers choose to do their shopping online instead of battling the crowds or running the risk of missing out on the item due to the insufficient inventory. On the other hand, ordering online is a breeze and only takes a few clicks. Very often, it is possible to lower the total price even more by searching for an online coupon, free shipping, or some other kind of promotion. Online retailers are very interested in attracting and retaining the customers. Brand loyalty is extremely important to them, so they offer promotions, volume discounts, loyalty programs, and price match guarantees. Brick and mortar stores are following with comparable programs to keep their customers.

    The emergence of a smarter, more informed consumer is a fact of life that majority of online and traditional retailers have to acknowledge and to which they need to adopt their businesses. The use of technology is here to stay, and if anything, it will increase in the ways we probably cannot imagine now. If someone tried to imagine 30 or 40 years ago how technology has progressed, chances are they would be wrong. It is hard to imagine how scientific innovations and advancements in technology will impact our lives 30 or 40 years from now. One thing is certain, that technological progress is irreversible. If only humankind can learn to live in peace and take advantage of technology to benefit everyone.

    http://dtl315.shannonweb.net/the-price-match-guarantee/

  14. Eric A Novembre December 4, 2015 at 7:28 pm #

    Times have changed in America, no one has the desire to go out and shop anymore, it is all about online shopping, and to be honest it is the better way to shop. “For example, a Louis Vuitton bag in Europe is significantly less than the prices in America and the only way you would know that is because of the internet and the access we have to the world. With the smart phone we have become smart consumers. Today’s customers are well informed on what they want, where they want it from, and how much they will pay for it. They go into the store knowing a lot more about the products than the consumer used to know. We used to go into the store and ask the salesperson for what we should get. A major problem companies are facing today is showrooming. Since consumers know that they can buy a product online for a cheaper price, they go into the store to actually look at and hold the product. Companies like Walmart, Target, and Home Depot are facing this issue because Amazon has the same products for a cheaper price. Also, consumers just stay at home and do some online shopping in their pajamas and the product shows up at their door in a mere 2 days.” Online shopping is the present and the future soon people will only online shop.
    “The Price Match Guarantee.” DTL Blog. N.p., 02 Dec. 2015. Web. 04 Dec. 2015.

  15. Ryan Jolluck December 4, 2015 at 7:29 pm #

    Though the Price Match Guarantee method is nice to have, I would still rather do my shopping online. It is faster, quicker, and best of all I don’t have to travel somewhere and leave the house. For a majority of products, there is a way to purchase them through the internet. There are still thing that I would personally match an exception to like food and clothes. Though there has been some websites that will ship you ingredients to make your own meals. At the same time, even with the presence of online shopping, many people still go out and physically shop for products. Price matching becomes beneficial to these stores since consumers will be influenced to buy someone that is around the prices online. I don’t know what will happen in the long term though. If stores will continue to be up profits from their new business strategies for competition. Online stores and shopping maybe win out in the end, eliminating physical stores. But, people still like to physically see, hold, wear, or test out the item at stores. For now, large companies like Amazon pose a challenge for many retail stores, and it is unknown whether there is some great new innovation that can tip the scales.

  16. Frank Rago December 6, 2015 at 2:02 am #

    Just about anything that a person can think about can be at their fingertips within seconds with full disclosure. A person has the ability now with the internet to see how much any marketable item costs in stores all over the world and be able to see which prices are the lowest and why all from their phone. This type of price transparency, as the article put it, is both a negative and a positive for retailers. It has made it very difficult for large retailers or even small owned businesses to be able to make as much profit as they used to in a pre-internet era. It is hard to have such a high markup on a product and maintain that level of profitability when a consumer can press a couple buttons and find the same product on the internet for a much cheaper price. With a person able to order the same product online for a lower price of find a local place that is selling the same exact product for a cheaper price, there is a very slim chance that that person will still buy the product that is marked up too high. In order for retailers to compete they must provide something to their customers that their competitors cannot, whether that be having the lowest price of their competitors or some form of unique experience while shopping that the store.
    On the bright side, this type of price transparency information is not only available to consumers, but it is available to business owners as well. With this information, it allows the business owner to revamp their business in a way that is more appealing to the consumer. They can see all of the prices for the products that they are selling and adjust their prices to match or be lower than their competitors. They can also come up with new ideas that allow them to offer an experience and atmosphere unlike any other to their customers. If businesses do not adapt to this changing market system, they will be forced out of business by bigger businesses that can afford to markdown their prices. For example, stores like Lowe’s and Home Depot lower their prices to the point that other smaller retailers of hardware supplies that are independently owned go out of business. The larger corporations have the money and resources to mark down their products and even take a financial hit in order to drive their competitors out of business. This is very strategic for them because although they take a loss at first, in the long run they are able to stay in business and acquire more consumers and gradually raise their prices back to a profitable price. Businesses need to adapt or be forced to shut down in these extremely competitive markets.

  17. Ryan Hardrove December 10, 2015 at 8:15 pm #

    I found this article to be interesting because for me personally I sometimes have a hard time talking to people face to face when trying to determine what I want, which is why I think many people shop online now. I feel like there are a lot of people with different things that keep them from going to the stores now. I think the biggest problem that is keeping people from going to the store is probably the difference in price, however, after reading this article if most stores really are selling there products with price match guarantee this will soon change. If this is really a thing then it would not make sense to order things offline as much anymore because you can now go to the store, get the product that same day, and the best part is that you can get it at a really good price for it, if you can prove the price is lower somewhere else. The only thing about this is that you will have to do a little more research on the items you want to purchase before you but at the store.
    I think it’s more convenient to do your shopping online because there are some basic things that you no longer have to worry about such as: getting dressed up to go out, long lines when checking out, and the possibility of the product not being in stock which is a common thing that happens during the holiday season. With online shopping you can order the product you want while being in your bed in the clothes you slept in, you do not need to worry about checkout lines, and if the product is out of stock you at least know that without making a trip all the way out to the store to find this out. Online shopping is the reason why physical businesses are struggling now because everything is online now. Parents no longer have to take their kids to the store and allowing them the chance to shop without constant nagging for other products. I honestly think that the idea of price match guarantee may be able to keep the physical businesses a float for now and it’s a great idea, but at the same time I feel like it may hurt businesses. Not all businesses get products for the same price, and by needing to match the price of its competitors it may hurt their business by bringing in less revenue than what was paid for the product. Sometimes it may even force them to sell these products below the price and by doing that they don’t get to make as much profit as they need to stay in business, but it is the only chance these stores have left. I am not sure how much longer it will work out for them, but I do applaud the decision making to try and keep the business going. Who knows in 20 years we may not have any physical stores anymore, shopping could only be online.

  18. Anthony Hector December 11, 2015 at 10:42 am #

    Price match guarantee is something that is definitely a good business move. I never knew what the Price match guarantee was until I went to best Buy and they offer that deal. This is something that makes perfect sense now a days especially with the technology that we possess to see the other deals that companies have to offer. The internet makes it easy for the customer to search up what deals are out because companies now put their prices online. With the price match guarantee it allows the company to match the best possible offer in the market. This is something that I first you would think would hurt the company because what if they sell the product for a higher price and with the offer they are losing money. Since competition today for companies is fierce they are not losing much at all because first of all the price match guarantee is a competitive move by the company in their industry.

    With a deal like this the company that offers this deal brings more customers to their store because the customer now knows that they could always get the best possible deal there. Internet shopping I believe is the future and is definitely something that is used heavily today, but some people rather go to a physical store to buy their products. With a deal like this they are getting the same deal that they could get on the internet. At a physical store the person gets the product their instead of it being shipped to their house. People know that the best deals are always on the internet so with the deal they assured that they are getting the best bang for their buck. This is a good competitive move by companies they are going above and beyond their competition because most companies might have a high price, but if a company is able to lower their price so that the customer gets what they want then they are going to be able to bring in more customers. I feel like it is important to build that trust with the customer in terms of a company.

  19. Kaitlyn McCluskey November 4, 2016 at 1:57 am #

    I am one hundred percent guilty of comparing prices on amazon to prices in the store. To be honest, my family is big on looking online first. Not because we are by any means cheap, but just because why not pay less when you can right? I am going to be honest, I am so old fashioned and I would prefer to get my items in store unless I absolutely have to get them online. And honestly, a huge factor in that is the fact that I am impatient and when I want something, I do not want to wait for it to be shipped to me. And I know that is outrageous…but it is just a bad habit that I have not been able to break.
    Anyway, I have noticed a lot of people out with their phones comparing prices…and like I said, with good reason. And this post made a good point…shopping in person is not what it used to be. People cared a lot more about recommendations from the employees but now we are able to know exactly what we want and what it is compared to other brands and places. Is this a problem? I personally don’t think it is because after all, that is competition at its finest.
    I do think that a big problem is physical stores have become the place where people see the product with their own eyes, and it validates if they want to purchase it or not and they end up purchasing it where they get the best deal and that can often be found online. Along with my impatient ways, I also get nervous purchasing items from online sources because I am nervous that it is not the same quality if it is not coming from the direct source. I do use amazon for a lot of different items…but only certain items. I get things like ink for my printer, sometimes phone charges, screen protectors etc. But would I ever purchase something like a Louis Vuitton from amazon (not even sure if they are sold on there—purely an example)? No. Because I can’t trust that it would be authentic. I personally would rather pay the price and guarantee the quality of the item.
    I think that price matching is honestly a good tactic for companies. Especially someone like me who wants something right then and there…if the store is going to match what I am showing them is online then it works out in my favor. Like the post said, it comes down to things like convenience and preference and brand loyalty…and not price. I know that a lot of people also switch from brands that they trust to alternative brands because there is a substantial price difference. It just sticks when people trust a brand but switch because of money reasons. I think that if people price match then customers can get the products that they want and for a price that is fair. And then everyone, buyers and sellers, are content.

  20. Edward Vestergaard November 18, 2016 at 4:45 pm #

    The internet is wonderful tool that allows information to be shared and sourced instantaneously. Since 1994, the world has become more unified in ways never thought possible before the internet’s arrival, as people from different countries, ethnic backgrounds and religions can communicate with ease. Because information is so readily available, modern consumers have a distinct advantage over those that weren’t afford the luxury of the internet. For example, if someone wanted to know who carried a certain sweater, he/she would simply go online and price-compare that exact sweater across many online retailers. Then, he/she would choose the cheapest option and proceed to purchase it. Simple. Conversely, the 20th century was largely disadvantaged because they were limited to the department stores within their vicinity, for online-shopping wasn’t around yet. Therefore, consumers bought out of convenience; whatever store was closest was the best option, even though another store fifteen miles further carried the exact same product for less. In short, being well informed allows the modern consumer to make better decisions about what they buy, which will result in reduced costs. Author Prachi Makkar supports this claim by noting how technology, like “the smartphone, we have become [smarter] consumers.” Now, brick-and-mortar companies are finding it difficult to compete with online retailers whose lower prices are stealing business.

    To keep consumer interest, brick-and-mortar chains like Walmart, Target and Home-Depot use showrooms to display merchandise. The advantage is that consumers can “actually look at and hold the product,” which may make them more inclined to purchase (Makkar). Additionally, allowing consumers the opportunity to try on clothing is something online retailers cannot boast; if something doesn’t fit correctly, a consumer can easily swap for something more appropriate. When ordering online, despite our best assumption as to our size, an article may not fit as we expected it to. Therefore, there’s a major hassle to ship it back (at the consumer’s expense) for a refund or wait until another size comes through. Personally, I had an experience where I bought slippers off Amazon that were too small, then had to wait another week for a larger pair to come in. I was pretty annoyed and my feet were cold has hell considering it was winter…so yeah that wasn’t fun. Furthermore, companies have taken a clever initiative to combat lower, online prices by adopting the “Price Back Guarantee.” Basically, if a consumer brings in proof that an item the store carries can be bought cheaper elsewhere, he/she can pay the cheaper price at that store. Of all the clever strategies, this has to rank among the top, because brick-and-mortar’s have just leveled the playing field. One could make the argument that there’s limited benefit to the program because brick-and-mortar’s are forced to reduce prices on their merchandise, but that’s silly. Price differences are generally small, perhaps within a dollar or two, but at least brick-and-mortars will be earning money that they wouldn’t have otherwise earned. Since online retailers lost their leverage, “competition will [now] be based on brand loyalty, convenience, preference, and experience” (Makkar). Long live Kohl’s on Route 4!

  21. Vannesa Martinez November 18, 2016 at 6:56 pm #

    This topic of price match guarantee adds another level of competition within competitors and within the business sector. Although this is presented as a downside to corporations, this is the added benefit to consumers with more accessible prices at our hands. The article “The Price Match Guarantee” discusses how consumers are much more well aware as to price matching and finding out information via online as to where and when to get the best prices for specific retailers or brands. As the article states, it is true that consumers have access to nearly everything, not just the internet, but apps retailers have that make their products even more accessible and right there for consumers. Our smartphones and our advances in technology have increased the popularity of buying products online instead of what some might consider a hassle and going to buy in stores. We have more accessibility to prices online and the ease to compare and see where to buy items at the lesser price.
    All of this convenience for consumers puts a strain on businesses due to the practice of showrooming. Since nothing prevents us at comparing prices and items online, we can research on the Internet and then go to the store to look and hold the tangible product. And since a number of things can be bought online for cheaper, the physical stores themselves have trouble selling their products as people will go to the stores, see what they like, and go back home and buy it there. I can see how this presents a problem for companies themselves because competition with online stores like Amazon or Ebay can out-compete stores like Walmart or Home Depot because at the end of the day, people will always lean towards where they can find the best quality item for the cheapest price. Even in tough economic times, people will still be more incline to practice this method to help save and cut back on monies.
    However, companies do not let showrooming get the better of their consumers, they choose to develop a method called the price match guarantee. This term signifies that a consumer can bring in a product that the store sells from another competitor and if that product in their stores is greater priced than the competitions, you can buy the product at the price of the competitor. Ultimately I feel like this helps to create greater competition because now with everyone promoting what they consider is the lowest product for prices, they have to succeed in marketing and branding their company to capture the attention of consumers. Now companies do have to try harder to get their names out there and set themselves apart from the competition so they will not lose their customers. On the downside, this would be harmful for some because this practice can potential put others out of the competition. I know that Walmart is fully committed to the price match guarantee and at setting the lowest prices because it is all what you hear from them in commercials that air online or on internet ads, that profit wise, they bring in so much revenue because they know that it is difficult that someone can match their products prices while still trying to earn a profit. So companies can use this tactic, but the economy needs to be well aware that this will cause competitors to put others out of business because their consumers will flock to the places that sells products at the lowest prices but still maintains that consist and good quality,

  22. Cliff Nash November 18, 2016 at 7:24 pm #

    It is incredible to think just how much the internet and things like smartphone have changed the world around us. It is true that merely twenty years ago we could not have the luxury of knowing that we could find a product for cheaper unless we went and visited every store individually to see the process for ourselves. Now the idea of price checking is a normal thing and everyone does it. It never came to my mind that people price checking would hurt a certain company’s profits as must as it seems to be doing.
    The idea of just going to stores to try the clothes on in person before buying them online for much cheaper is incredible. It is something that greatly harms the stores because, as previously stated, they do lose money on the sale that is now going to amazon or some other online shopping site. It is obvious that everyone likes to same money so the fact that it is this easy is incredible.
    The price match guarantee that stores suddenly have seems like a great idea. Someone finds the product they are looking for online, they see it is cheaper than the in store price and they get it matched. Now the customer does not have to wait to have the product shipped to their home and instead can have it that very day. Although this seems like a great strategy for stores to still makes sales and not lose as much money, there is only one question, how much are the stores willing to go down in price in order to make a sale? A personal experience that my mother once had is when we were redoing our kitchen. We needed to buy blinds to cover the window, my mom was able to find them at a store but the price was very high and she was confident she could find them somewhere else for cheaper. She went online and was correct, the same exact blinds for around half the price. When my mom went to the store to show them the online prices she had found the store refused to match it because it was too low for them to drop the price.
    With online shopping being as popular as it is now, I feel that many stores will face difficulty in the future to sell their products because more and more people will be turning to the internet to find products for a much cheaper price.

  23. Joe Murdaco December 1, 2016 at 10:21 pm #

    Price Matching is a vital part of how businesses run today. With this option, a lot of smaller companies would be lost and go out of business. Smaller companies cannot sell at a smaller profit margin or at lower prices than places like Walmart because they do not sell at a high volume. With price matching, these companies are basically forced to lower their prices to increase sales. Walmart will attract a customer over any other store regardless of prices but if they match another company’s price, they will make a lot more sales.
    I have personally seen price matching in effect. Costco recently opened up down the street from where I work. We sell tires at a very reasonable price compared to our competition and we are a very large and profitable company. We were always the first choice for tires until recently. Costco has decided to match our prices and go lower than our prices in many instances. It is very hard for us to compete with a giant company like Costco because we can not survive with low profit margins like they can. We are not a small company but Costco is clearly larger and more profitable. Selling tires cheaply is not going to impact them as much as us. Price Matching has really hurt our tire sales but it has increased the sales of Costco. Technology has hurt our business in this instance.
    Technological advancements have positively impacted all companies. Online shopping has improved the lives of every consumer especially those that do last minute Christmas shopping on Amazon. However, by showing prices online, businesses are very limited with what they can do. It helps the consumer because they will not be coerced by a company to pay an absurd amount of money for a cheap product. Consumers will see how much other companies are selling the same product and go with the cheaper one. It definitely helps the consumer but not the company. Companies are forced to sell their product at a lower price to get the sale. I think, like my employer, smaller companies are at a big disadvantage with the internet in this respect.
    I think showing the prices online will also kill local businesses. In the old days, smaller boutiques needed the locals to shop at their place to stay in business. Now, the locals do not have to shop at boutiques. They can find the same product across the country at a lower cost and get it shipped to them in a day. It is remarkable but this makes specialty items less desirable. Most of the time, we see a unique item at a small store in our area that is priced high but we can find the same thing online for much cheaper. In this economy, low prices win every time. We try to save every penny we can. It is insane how a difference of a dollar can make the difference in getting the sale or not. Price Matching and online shopping supports the bigger companies and hurts the little guy. This is the opposite of what our government wants.

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