Are you a Money Saver? Then here are the Price Matching Policies You Should Know About

If you are someone who wants to maximize their money savings then you’ve likely heard of price matching. For those who don’t know, Price Matching is when a retailer agrees to match another retailer’s lower price on a given item and sell that item to you for a lower price. Price Matching is a great way to save money, but there are several confusing price matching policies you should know about if you want to use price matching to maximize your savings. As usual, SaleWhale.ca wants to make this information easy and accessible for you. So, here’s a list of all the price matching policies you should know about..

 Price Matching Policies You Should Know About

 

Types of Price Matching

The first of the price matching policies you should know about are the different types of price matching that may be offered by retailers.

The standard price match policy is simply to match the competitor’s price. So, if a retailer is selling a product for $11 but one of their competitors is advertising an identical product for $10, then the retailer will match their competitor’s price and sell the item to you for $10. Pretty simple, right?

Price beat by a percentage of the difference is also a very common price match policy, but a little more complicated. This means that a retailer will beat the competitor’s price by matching the competitor’s price but with an additional discount which is a percentage of the difference. For example, if a retailer is selling a product for $11 and their competitor is advertising the identical product for $10, then the retailer may agree to beat the price by 10% of the difference meaning they would sell the item for $9.99? Are you following?

Price Beat by a fixed percentage is similar to price beat by a percentage of the difference, but they will beat the price by a fixed percentage of the lower price. If a retailer is selling an item for $11, their competitor is advertising the same item for $10 and they agree to beat the price by 10% then they would sell the item for $9 (10$ – 10%). Makes sense, right?

A final price matching policy that a retailer may use is price match with rewards. Price match with rewards means that a retailer will match the lower price of a competitor but also give you additional discounts for their rewards program. So, a retailer may be selling an item for $11 with their competitor selling the same item for $10. Then the retailer agrees to match the competitor’s price and sell the item for $10 plus give you an additional 500 points on your rewards card (the value and type of reward will differ depending on the retailer’s rewards system).

 

What you Need for a Price Match

The second of many price matching policies you should know about is what you need in order to get a price match and luckily this is pretty simple. There are 3 things you need to get a price match:

  1. Proof of the Lower price – normally the flyer from the store advertising the lower price (some retailers may also let you use the SaleWhale app)
  2. Model Number or Exact product details
  3. Price Match policy of the store you wish to receive a price match from

 

How to Get a Price Match

Next, on our list of price matching policies you should know about, is how to actually go about getting a price match. Again, this is pretty simple but listen up so that you don’t make a mistake…

  1. Go to a store that offers price matching, pick up the items you would like to price match on and head to the checkout
  2. Let your cashier know that you would like to price match
  3. Show the cash proof of the lower price
  4. If the cashier says no, present proof of store’s price match policy and explain to them why the price match should be done.

 

Common Price Match Restrictions

Probably the most important of the price matching policies you should know about, is common price match restrictions that the majority of retailers will have in their policy. Here are the common price match restrictions:

  1. Products must be in-stock
  2. Proof of the lower price is required (some stores will not accept photocopies or printed flyers)
  3. Some stores will require the price to be from a competitor in the geographical trade area
  4. Products must be identical
  5. Some retailers will not match online prices
  6. Some retailers will only allow one price match per customer per day
  7.  Price matches may not be combined with any other offer

Price Matching Policies You Should Know About

If you really want to use price matching to your advantage and maximize your savings then it’s very important to do your research and find out all of the price match policies you should know about. For more information on grocery price matching, make sure to check out our blog post – price matching on groceries, how, where and why? For more money saving tips and to find all of your groceries on sale near to you head over to SaleWhale.ca.