Target is pulling the plug on a long-standing price match policy that allowed customers to secure deals matching those offered by Amazon and Walmart, marking the end of a 12-year effort to remain competitive in the online retail space.
Beginning July 28, shoppers will no longer be able to request a price match for items sold and fulfilled by Amazon or Walmart, Target confirmed on Tuesday(July 22). Instead, the retailer will only honor price match requests for products available at Target stores or on Target.com.
The now-scrapped policy, introduced in 2013 under then-CEO Gregg Steinhafel, permitted customers to present proof of a lower price on an identical item, same brand, size, weight, color, and model number, within 14 days of purchase. It was positioned at the time as part of Target’s commitment to offering “unbeatable value.”
But Target says consumer habits have shifted. “Guests overwhelmingly price match within Target and not with other retailers,” a spokesperson said, explaining the rationale behind the change.
The move comes as Target struggles to reignite sales momentum and draw shoppers back into stores. In its most recent quarterly report, the company posted a 2.9 percent decline in sales year-over-year, pointing to softening consumer demand.
Target CEO Brian Cornell said in May that the company is operating in an “exceptionally challenging environment,” citing eroding consumer confidence and uncertainty around global trade as ongoing hurdles.
Retail rivals are facing similar headwinds. Americans have tightened their wallets in recent months, wary of inflation and economic uncertainty. The Conference Board's Consumer Confidence Index fell by 5.4 points in June, indicating growing caution among shoppers.
Despite stepping back from cross-retailer price matching, Target’s decision may open space for competitors like Best Buy and Home Depot, which continue to offer price match guarantees. Walmart, meanwhile, maintains a price match policy but only for items sold on Walmart.com, not by other retailers.
Beginning July 28, shoppers will no longer be able to request a price match for items sold and fulfilled by Amazon or Walmart, Target confirmed on Tuesday(July 22). Instead, the retailer will only honor price match requests for products available at Target stores or on Target.com.
The now-scrapped policy, introduced in 2013 under then-CEO Gregg Steinhafel, permitted customers to present proof of a lower price on an identical item, same brand, size, weight, color, and model number, within 14 days of purchase. It was positioned at the time as part of Target’s commitment to offering “unbeatable value.”
But Target says consumer habits have shifted. “Guests overwhelmingly price match within Target and not with other retailers,” a spokesperson said, explaining the rationale behind the change.
The move comes as Target struggles to reignite sales momentum and draw shoppers back into stores. In its most recent quarterly report, the company posted a 2.9 percent decline in sales year-over-year, pointing to softening consumer demand.
Target CEO Brian Cornell said in May that the company is operating in an “exceptionally challenging environment,” citing eroding consumer confidence and uncertainty around global trade as ongoing hurdles.
Retail rivals are facing similar headwinds. Americans have tightened their wallets in recent months, wary of inflation and economic uncertainty. The Conference Board's Consumer Confidence Index fell by 5.4 points in June, indicating growing caution among shoppers.
Despite stepping back from cross-retailer price matching, Target’s decision may open space for competitors like Best Buy and Home Depot, which continue to offer price match guarantees. Walmart, meanwhile, maintains a price match policy but only for items sold on Walmart.com, not by other retailers.
