Target plays price card to lure shoppers
by October 17, 2012 10:07 pm 73 views
Target Corp. said Tuesday (Oct. 16), it will match certain online retailers’ prices this holiday season, in what has become a competive price war to win shoppers .
Chief Executive Gregg Steinhafel said Target will let customers match prices from online retailers including Amazon.com, Walmart.com, BestBuy.com Toysrus.com and Babiesrus.com between Nov. 1 and Dec.16.
Target will offer an additional week, through Dec. 24, on its matching price policy for any lower prices found on its Target.com site, which sometimes differ from the prices in its stores, and in the print advertisements of other retailers.
Steinhafel said he is "confident" Target will meet its financial goals for the year, even though consumer confidence is still below pre-recession levels.
Duncan MacNaughton, chief merchandising and marketing officer for Walmart US, said Wednesday, the Bentonville-based retail giant is poised for a strong back half of 2012. He said the extended layaway time has been “huge” with $400 million socked away as of last week.
Expanded delivery options and price match campaigns are standard in this day and time. He said stores ordered deep in anticipation of 200 million more customers this holiday from a year ago.
“It’s exciting , Target can bring in on,” he said.
He said Wal-Mart will unveil 40 new toys in December and the company will roll-back select toy prices each Tuesday in the “Toyland Tuesday” campaign.