What is Price Matching?

Price match or price matching is a price changing strategy depending on the consumer demand.   It is based on equalizing the price to the product or give a refund for the difference to the consumers that claims they have found the product at a lower price in  another establishment. The market that applied this  policy caught the attention of consumers with claims like “if you find it for cheaper, we will refund you the difference”. In a highly changing environment, it is necessary to have a price monitorization tool to always guarantee the lowest price and be the most chosen option by consumers.  

Types of price matching 

Price match is a strategy directed toward the final consumer to capture their attention playing with price sensitivity. Traditionally, they were large Anglo-Saxon distributors that started this type of practice that, on many occasions, we have gotten to know through their movies. Supermarkets and hypermarkets like Target, Walmart, Best Buy and Tesco continue with this price policy both in physical stores and in their e-commerce.  

Beyond client acquisition, these actions facilitate the ability for establishments to follow their competition and, in this way, get to know their prices through their own consumers. Currently, there are two types of price matching carried out: 

• ​Presale: The market implements a pricing policy that compromises to equalize and better the price of one of their products before its sale, as long as the clients shows that they have discovered cheaper in another establishment. 
• Post-sale: This is the most used option. Once the purchase has been made, the market will return to the client the difference if they have found a lower offer and can demonstrate it. This practice, is usually limited to a period of time between 48 hours and 15 days. 

These actions were born in the physical plane, but they have converted into a multichannel tactic and they become more relevant with the growth of the online market.