Article 3 - The Art of Price Matching

This might seem like a bizzare topic, but I bet it's a curiousity that most of you would like to read about. Afterall, nothing's free in this world, and who would not want to save every penny, really?

So what's price matching? Price matching occurs when a customer requests a particular retailer (sometimes even wholesalers or even distributors, although unlikely) to sell their product at the given advertised price from another competitive retailer. Sometimes, these retailers even go further and give an extra incentive to price match such as 10% off the difference. Some noteworthy retailers that do provide incentives include Bestbuy and Futureshop.

First and foremost, never go price matching if the retailer is very far away. It is never worth the extra trouble; especially, if the retailer refuses to price match. Also, you may end up losing to your transportation cost (gas).

Once you determined which product you can and do want to price match, find the closest retailer that sells that exact same product. That way, you will save on the transportation costs and time.

If the retailer also gives incentives to price match, you should also consider that. We will use a policy that gives an extra discount of 10% of the difference as an example. In this case, you want to find the maximum difference, namely two competiting stores (which are able to be price matched from one another), where one stores sells the product at the highest cost, while the other store sells at the lowest. Go to the store that sells at the highest and request a price match there. That way, you will maximize the 10% difference.

Next time, you are in a store, consider checking alternatives before purchasing the product, since there could be other stores with a more competitive pricing!

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