About a month ago we blogged about the new retail trend of showrooming. Well, if any of you listen to NHPR on the drive to work, you may have heard this morning’s segment about Target’s announcement on how they’ll fight to counter showrooming with price matching.
The decision comes from sales consistently being hurt by the practice of showrooming- specifically with online superstar retailer Amazon.com. While browsing the aisles at Target amongst other brick-and-mortars, customers browse sites on their smartphones, hunting for the lowest prices.
In this new initiative, Target will match the prices of identical items from major competitors such as Amazon.com, BestBuy.com, ToysRUs.com and Walmart.com within 7 days of purchase. Just bring your receipt and proof that the item is sold elsewhere for less (printed ad or just the screen on your phone!) and Target will refund you the difference.
Added bonus: if you have a Target REDcard, you’ll get an additional 5% off your purchase.
An estimated 48 million consumers showroomed last year. The most popular items that fall victim to this practice are electronics, kids games and appliances- by happenstance, the items Target thrives on.
It’ll be interesting to see if other retailers follow suit.
Photo credit: Flickr Mt. T in DC