Price Matching Criticized From Wal-Mart to Toys ‘R’ Us: Retail

In the weak economy today, many businesses are forced to turn to price matching policies to attract new customers or just keep customers loyal. Despite promoting ads that price matching is guaranteed, many businesses have been heavily criticized for it. The price matching program is definitely not easy to follow through because of the many factors that need to be accounted for but that is no excuse to only execute the program when wanted. The price matching program should have a standard so that it is fair for all customers. Customers of Wal-Mart and Toys“R”Us have complained that the policy is very inconsistent and that even workers don’t fully understand the price matching program. Answers could vary from store to store and even one day from another.

In the current economy, it is extremely important to keep your customers loyal. People are always seeking for the lowest prices and with the internet, low prices are everywhere. There should be a established standard so that all stores with price matching programs are executing it the right way. The current price matching program is not only not effective but also turning some loyal customers away.

Written by: Wilson Tang

Source:

http://www.bloomberg.com/news/2013-04-30/price-matching-criticized-from-wal-mart-to-toys-r-us-retail.html

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