Walmart Announces New Holiday Price-Matching Strategy

×
Wal-Mart Stores Inc. (WMT), the world's largest retailer, announced a new holiday price-matching strategy that aims to pull in procrastinators early by giving them a big incentive: a guarantee they'll get the lowest prices no matter when they buy during the season.

The discounter said Monday it will be matching prices on all its products - even after the purchases are made. Shoppers who buy a product - whether on its website or in its stores - from Nov. 1 to Dec. 25 but then find the identical item for less at a rival later will receive a gift card for the price difference. To qualify, shoppers need to bring in the original Wal-Mart receipt and the local competitor's print ad. Gift cards will not be given out after Dec. 25.

"The greatest gift we can give our customers this holiday is great low prices on the things they want most," said Duncan MacNaughton, chief merchandising officer at Wal-Mart's U.S. division, in a statement. "Wal-Mart is easing shopping stress this Christmas by allowing customers to shop when and how they want, all while guaranteeing low prices through the entire holiday season."

The holiday price guarantee builds on Wal-Mart's aggressive everyday price-matching strategy and comes as the world's largest retailer aims to solidify its position as the low price leader and reverse nine straight quarters of declines in revenue at stores opened at least a year in its U.S. namesake business. The move also raises the competitive stakes for the 2011 holiday season, which accounts for as much as 40 percent of retailers' annual revenue. With the job market still weak and the stock market in turmoil, shoppers are focusing on grabbing the lowest price and are using their smartphones to check rivals' prices in the store aisles and walking away if they're not getting the best deal.

Heading into the holiday season, a growing number of stores, including Staples Inc. and Bed Bath & Beyond Inc., are even matching prices with online-only merchants like Amazon.com to convert browsers into buyers. Wal-Mart's price matching for the holidays still excludes Internet retailers, but clearly the latest announcement underscores the discounter's need to hammer its low-price message even more in a bid to bring back customers it had lost. Wal-Mart's U.S. business has been in a slump because of mistakes it made on price and selection.

The company is reversing that weak trend and has seen three straight months of revenue gains, starting in July, as it finishes up restoring thousands of products it culled during an overzealous bid to de-clutter its stores. But reclaiming its reputation as the lowest-prices leader is critical to sustain the improving sales trend. The company, based in Bentonville, Ark., strayed from its bedrock philosophy of "everyday" low prices, and late last year, switched back to emphasizing low prices across the whole store, instead of promoting select items.

This past April, Wal-Mart launched a series of ad campaigns focusing on its low prices and said it was directing store employees to comb through competitors' advertisements so price matches at the register would be easier. But with the latest incentive, Wal-Mart is offering an even more hassle-free way of guaranteeing shoppers they'll get the best price and giving shoppers more of a reason to go to Wal-Mart first for their holiday needs. Shoppers don't have to bring back purchases to Wal-Mart in order to take advantage of better prices elsewhere. They just need to bring in the receipt and the local printed ad to the customer service desk. Furthermore, even items placed on layaway will be eligible for the company's "Christmas Price Guarantee" program.

Wal-Mart is also hoping to tap into another stream of revenue - by giving shoppers the price difference in the gift cards, it's hoping customers will come back and spend more than the value of the card. See full article from DailyFinance: http://srph.it/pLqooN

Increase your money and finance knowledge from home

Timing Your Spending

How to pay less by changing when you purchase.

View Course »

How to Avoid Financial Scams

Avoid getting duped by financial scams.

View Course »

Add a Comment

*0 / 3000 Character Maximum

85 Comments

Filter by:
rforeverfree

Now you can buy your "Made in China" goods at equal prices everywhere.

October 25 2011 at 7:04 AM Report abuse +1 rate up rate down Reply
cowgirlmama06

all these stores that walmart opened up now they are cutting back on there health ins.

October 25 2011 at 5:38 AM Report abuse rate up rate down Reply
lopsidedly

this is a "story"? reads like a commercial for walmart

October 25 2011 at 3:56 AM Report abuse rate up rate down Reply
virtualblair

All I want for Christmas is anything NOT from Walmart OR China!!! I have had this motto for several years now.

October 25 2011 at 2:46 AM Report abuse rate up rate down Reply
lkb1141

americans get what they pay for cheap foreign prices mean american made producers are dead on arrival by the consumer

October 25 2011 at 2:17 AM Report abuse rate up rate down Reply
smogcops

People did you not read the article. They do not give you cash back for the difference. You get a gift card. If you bring in ad you want the difference in cash that is why you thought you were getting the lowest price. What a gimmick

October 25 2011 at 1:38 AM Report abuse rate up rate down Reply
yabadabame2

ALL OF US WERE WARNED 41 YEARS AGO, and NOW IT HAS HAPPENED, READ BELOW !!!!
In the 1970's, and 1980's when there was lots of work there used to be Bumper Stickers that Read " Buy American, and Save Our Jobs." ....... ( BUT NOONE PAID ATTENTION TO THIS BLEAK WARNING ! )
This Bumper Sticker started when The Japanese car makers started to sell The Datsun cars in The United States.
Now when everyone is out of a job the people want to blame our Government, and anyone else for the LOSS of our JOBS, when it is actually there own fault for NOT BUYING American made products that support our country, and our jobs..... ( Because EVERYONE IS TO CHEAP TO BUY AMERICAN MADE PRODUCTS. )
The Protestors REALLY NEED to BLAME there Parents, Brothers, Sisters, and THEMSELVES, because they probably have owned, or own at least one NOT MADE IN THE USA. car, and other products instead of buying USA. MADE products.
The people started buying Japanese cars in the 1970's because they were CHEAPER, and NOT because they were better ! This lead everyone to stop buying The USA. Products ( Even Though they were better ) to buying the less expensive Japanese, and THEN the Chinese products, NOT because they were better, but because they were CHEAPER ! ...... ( because of THERE CHEAP LABOR, and BY STEALING USA. TECHNOLOGY ! )
ASK YOURSELF, and OTHERS THIS QUESTION, Exactly what does THE USA. now manufacture that supports the USA. Economy, and YOUR JOB ? ( Not much, everything Including OUR TECHNOLOGY is ALL overseas, thanks to almost everyone in The United States for being TO CHEAP to BUY OUR OWN USA. PRODUCTS. )

The NEXT time you interview a SO CALLED 99 % Protestor, or a SO CALLED TEA PARTIER, just ask them the following;

1. Do they own an American made car, or do there Parents, Brothers, Sisters, or Friends own an American
Made Car ? ( The answer is probably NO. )

2. Why did they buy a Foreign made car, was it because it was Cheaper than a USA. made car ?

October 25 2011 at 1:31 AM Report abuse +1 rate up rate down Reply
1 reply to yabadabame2's comment
stag01987

I agree that we all have been part of the problem, but back then, the American auto companies were putting out a very poor product at much higher cost. The management and UAW can share the blame for that. They have come along way since then. The Japanese didn't invent the car, but they taught us how to build them. Nowadays, our trade policies are so lopsided in favor of China and others that enticed American companies to move over seas. I can't blame the ones who had to in order to survive, but nowadays, it's mostly for extreme profit, and screw America. Today, they feel no patriotism or civic duty to keep American's employed. No matter how much they make in profits, it's never enough to them.

October 25 2011 at 7:41 AM Report abuse rate up rate down Reply
Brenda

They aren't making it better for their customers with long lines and on or two cashiers at night...They are stingy people that are screewing their employees and their customers...

October 25 2011 at 1:24 AM Report abuse +2 rate up rate down Reply
mjrosepetal321

HA!HA! WALMART IS NOT MAKING NOT ONE THING BETTER FOR IT;S EMPLOYEES/WHY DO THESE ARTICLE GET PRINTED WHEN EVEN THE ADS NO IT IS ALL LIES,LIES,LIES.

October 25 2011 at 1:13 AM Report abuse rate up rate down Reply
china

This is just another BS gimmick ... walmart has all there stuff made for them, that includes the numbers ... you watch, take something in for price match and it will be rejected cause the numbers don't match. Won't matter that they look exactly alike.
Walmart sux ... everytime you go to do your shopping they are out of items and the clerks are all idiots about when it may be replaced. The stores inventory is replaced by ??? and has absolutely nothing to do with what the customers buy in any given geographic area. That is no way to keep a customer base! I am sick of them replacing products with inferior brands ... I just shop for my major groceries at other local stores. It saves time and money running around for something w/m was out of.
I know without a doubt Sam is turning in his grave with the mess his drunken daughter has made of things. RIP Sam, we know you didn't want this greed of her's to destroy your dream!

October 25 2011 at 12:02 AM Report abuse +1 rate up rate down Reply
1 reply to china's comment
mjrosepetal321

AMEN CHINA YOU GO GIRL. CAUSE THIS NOTING BUT THE TRUTH. SAY IT AGAIN GIRL.

October 25 2011 at 1:16 AM Report abuse +1 rate up rate down Reply