Target will no longer price match products for customers from competitors such as Amazon and Walmart starting July 28.
The company said it’s found that shoppers “overwhelmingly price match Target and not other retailers,” according to a statement from a spokesperson shared with Retail Dive.
“We’re always working to deliver consumers outstanding value and give them confidence to choose Target, with our everyday low prices, affordable and quality-focused owned brands, incredible deals, free-to-join membership program, Target Circle, and more,” the spokesperson said.
In its current policy, Target matches pricing for identical qualifying items at Amazon and Walmart. Shoppers can request such price matching at the time of purchase or within 14 days afterward.
The move comes as Target is undergoing a large effort to turn around the business. The retailer has suffered sales and foot traffic declines as of late, in addition to handling consumer backlash and a shifting tariff environment this year.
On pricing, Target CEO Brian Cornell said on an earnings call in May that price hikes are seen as a “last resort” when it comes to mitigating tariff impacts. Nonetheless, Chief Commercial Officer Rick Gomez did say that Target was adjusting prices where necessary as part of its mitigation efforts, in addition to negotiating with vendor partners and changing the country of production when possible.
Mass retailer Walmart also doesn’t match competitors’ online or in-store prices, ending its Savings Catcher price-matching service in 2019 in stores. Similarly, Amazon does not offer a direct price match with competitors.
