Price matching is when a store offers to sell an item for the same price as another store. It is common in large stores and requires proof of a lower price elsewhere. Price matching generally only exists for identical items and may have exclusions.
“We guarantee the lowest prices!” “We will beat any advertised price!” “We’ll match any price or give you a discount if you find the same item for less at another store.” You’ve probably heard these claims before, often from major retailers, who obviously want your patronage. This is called price matching, when one outlet offers to sell something for the same price you would buy it for elsewhere.
Price matching is a common practice, especially in large stores that sell a lot of merchandise. You can even find price matches on the internet if you are hard enough. While these deals sound great, there are a few things about price matching before heading to the nearest store in search of the best price.
In some stores, especially mom and pop outlets where the owner gets to set the prices, you might just be able to tell an owner that you can buy the same thing for X amount less at a given store. You may not need to provide proof of a lower price elsewhere, but you may need a long-standing relationship with the store if they don’t advertise that they match the price. Sometimes small businesses simply can’t match prices because they lose too much money that way. If they order less inventory, they usually have to pay higher prices than large companies that order much more inventory.
Virtually no store will attempt to match prices to internet prices. Additionally, they might not even match your own internet prices on items. It’s important to read the fine print before asking companies to compare prices, even at their own internet prices or with another internet shop.
Most businesses will require you to provide proof that an item is priced lower at another store. If you see an advertisement for a lower price, take it with you to try a lower price elsewhere. Most companies won’t match prices just on your word.
Price matching generally only exists for identical items. For example, if you’re shopping for a mattress, it has to be exactly the same mattress type, brand, and model for a company to match the prices. If someone has a lower priced Mattress 2000 (generic name) and you try to match that to a Mattress 2001, you won’t get a lower price.
The same standards can exist for automobiles. Often a single car is priced much lower than the rest of the same models on a lot. You’re not likely to get that price because the individual car price usually also has a vehicle identification number attached to the price. Only that car is for sale. However, you can use this as a bargaining tool, to try and get a lower overall price at the same or a different dealership.
In all, some consumers find price matching to be a plus, while others find it too much work. It usually has exclusions and in most cases you will have to jump through a few hoops to get it. Many people find it worth a little effort when trying to save money.
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