Sara Altschule

Posted 4 months ago

How Does Price-Matching Work?

In the simplest terms, price matching is when a store will match a competitor’s lower price for a product. Meaning, if you find a product for a cheaper price somewhere else, a store that does price matching should honor this lower price.  

What Stores Will Honor Price-Matching? 

Most major retailers have a price-match guarantee. But each store might have different requirements that are specific to their location. Some stores will price-match at the time of your purchase, while others may also offer a price-match guarantee after you made a purchase.  

Typical Price-matching Requirements:

• Must be an identical product — when looking to price-match an item, you’ll want to make sure you’re comparing the same exact product and model. You can’t ask for a product to be compared to an older version that’s cheaper. Usually, the model number must be the exact same.
• The product has to be in stock at the other location — You’ll need to make sure that the product is currently in stock and being sold at the competitor’s location. 
• Deals don’t apply  — Most stores won’t do a price-match guarantee if the competitor product is lower because of a promotion. Furthermore, certain stores won’t price match during big holidays, like Black Friday or Cyber Monday.  

How Do You Ask For A Price Match?

It’s best to ask to speak with the manager or customer service attendant. Make sure you have your proof. Bring in the actual ad of the competitor’s product you’ve found or show them the product on their website. Worse case, they can call the other store for any clarifying information. 

Price Matching Vs Price Fixing

Price fixing is when two competitor stores agree on a similar price for a product that either raises the price at both places or lowers the price. However, antitrust laws state that companies are not allowed to participate in this type of behavior. Price-matching is not the same as price-fixing and is certainly not illegal.