Retail giant Target is ending its price matching policy for products sold by competitors Amazon and Walmart after 12 years. The change takes effect July 28, allowing customers to request a price match only for products sold at Target or Target.com.
The policy change comes as Target faces sales decline challenges. In its recent earnings report, the company reported a nearly 3% drop in sales during the first quarter compared to last year. This decision follows other retailers like Best Buy and Home Depot which also offer competitor price matching policies.
Target introduced its original policy in 2013 with former CEO Gregg Steinhafel’s statement that it provided “unbeatable value.” However, this move is a response to the current economic uncertainty and declining consumer confidence. Other retailers are also feeling the pinch as consumers become more cautious about spending. The Conference Board Consumer Confidence Index fell 5.4 points in June, signaling potential challenges ahead for Target and its competitors.
Source: https://www.cbsnews.com/news/target-price-matching-policy-july-2025