Target is modifying a key aspect of its price-matching policy, a move that will restrict how shoppers can save money when comparing prices across major retailers.
Beginning today, July 28, Target will no longer honor lower prices found at Amazon or Walmart on items purchased at its stores. The revised policy will allow customers to receive a refund only if an identical product is found cheaper at another Target store or on Target’s website within 14 days of purchase.
The change marks the end of a roughly decade-old policy launched in 2013, which allowed shoppers to request price adjustments when competitors offered lower prices on identical items. Amazon does not offer a price-match program, and Walmart ended its own price-matching policy in 2019.
Target executives said the decision comes amid challenging financial conditions. The retailer reported a 3.8% decline in comparable store sales compared to the same quarter last year. Executives attributed the slowdown to declining consumer confidence, uncertainty over possible tariffs, and backlash related to changes in its diversity, equity, and inclusion programs earlier this year.
Target CEO Brian Cornell previously warned of “massive potential costs” from tariffs but said the company is working to offset them through diversified sourcing, product adjustments, and possible price increases.
Source: CNN