Use Price Matching to Avoid Leaving Money on the Table (by NerdWallet)

By Brian Keaney · Oct 13, 2016 3 min read

Smart Shopping

Ask for a price match and stop overpaying

Price matching can save you real money at checkout, yet fewer than 10% of shoppers ask for it. Here’s how to spot a lower price and get the retailer to meet it.

1 The Deal You Almost Left on the Table

Kevin Brasler recalls barraging an obliging salesperson with questions about car seat safety when he was a concerned new parent.

Before they checked out, Brasler and his wife found the seat they were considering for $50 less on Amazon. But they were so invested in their in-store experience that they bought from the salesperson anyway.

However, they likely could’ve purchased the car seat in store and gotten the Amazon price by simply asking the retailer to match it.

2 How Price Matching Actually Works

Price matching typically requires asking the cashier to meet a lower advertised price at the time of purchase or asking a representative at the customer service desk for a price adjustment within a post-purchase grace period. To price match online, call customer service. You’ll usually need a digital or physical ad for evidence of the lower offer, and there can be exceptions and exclusions.

Brasler is executive editor at the nonprofit Consumers’ Checkbook. The group has found that mystery shoppers saved considerable amounts by price matching, including $140 on an LG sound bar speaker system at Best Buy.

3 Why So Few Shoppers Bother

Even though price matching works, less than 10% of consumers do it, according to Sucharita Mulpuru, chief retail strategist for annual commerce industry convention Shoptalk. She says that although price matching has grown during the last decade, many consumers are still unaware of it, and others don’t bother because it seems like a hassle. And some stores keep such a close eye on pricing that matching isn’t often necessary.

“As these price-matching policies have become more generous, the pricing algorithms for these companies have also become more sophisticated, so you generally don’t find yourself as a customer in a situation as much where you can go to a retailer and say, ‘gotcha’,” she says.

And stores that advertise price matching aren’t a surefire bet for the best deal. But it’s still worth doing, according to Nanda Kumar, professor of marketing at the University of Texas at Dallas. After all, you won’t save any money by shopping at a store with such a policy if you don’t actually use it.

“You need at least some segment of customers to regulate the pricing behavior of retailers,” Kumar says.

4 Here’s How You Can Price Match

Check retailer websites for price matching policies. For example, Amazon honors TV prices from select stores, but won’t price match anything else. Best Buy matches Amazon.com, Bhphotovideo.com, Crutchfield.com, Dell.com, HP.com and TigerDirect.com in addition to local competitors. But Kumar says price matching policies often exclude businesses offering the lowest prices because they might not sell genuine products.
Match comparable products. It can be more difficult to price match items such as electronics because retailers might sell different model numbers, Mulpuru says.
Download a price comparison app such as ShopSavvy or Scan. Then scan the barcode of the item you want and see what it’s selling for elsewhere — and whether you should request a price match.
Check online prices before buying in store. Some retailers, including Target, will match their own online prices.
If you find your item for less post-purchase, ask for a price adjustment. Many credit cards offer a price protection perk if an item drops in price after you buy.

Courtney Jespersen is a staff writer at NerdWallet, a personal finance website.
Email: courtney@nerdwallet.com.
Twitter: @CourtneyNerd.

This article was written by NerdWallet and was originally published by The Associated Press.

Billshark · Bill Negotiation Experts
Helping consumers and small businesses stop overpaying on recurring bills.

Frequently Asked Questions

What is price matching and how do I request it?

Price matching means asking a retailer to meet a lower advertised price. At the time of purchase, ask the cashier to match the lower price. After buying, ask a representative at the customer service desk for a price adjustment within the post-purchase grace period. To price match online, call customer service. You will usually need a digital or physical ad as evidence of the lower offer, and exceptions and exclusions can apply.

How much money can price matching actually save?

The savings can be meaningful. Consumers’ Checkbook found that mystery shoppers saved considerable amounts by price matching, including $140 on an LG sound bar speaker system at Best Buy. In one example from the article, a couple could have saved $50 on a car seat by asking the in-store retailer to match a lower Amazon price instead of paying the higher sticker amount.

Why do so few people use price matching?

Fewer than 10% of consumers price match, according to Sucharita Mulpuru, chief retail strategist for the Shoptalk convention. Many shoppers are still unaware that price matching exists, and others skip it because it seems like a hassle. In addition, some stores watch pricing so closely with sophisticated algorithms that matching often isn’t necessary in the first place.

How do I find out if a store offers price matching?

Check retailer websites for their price matching policies. For example, Amazon honors TV prices from select stores but won’t match anything else, while Best Buy matches sites like Amazon.com, Crutchfield.com, Dell.com and HP.com plus local competitors. Note that policies often exclude businesses offering the very lowest prices, since those sellers might not carry genuine products.

What if the price drops after I already bought the item?

If you find your item for less after buying it, ask for a price adjustment within the retailer’s grace period. Many credit cards also offer a price protection perk that can reimburse you if an item drops in price after purchase. Tools like the ShopSavvy or Scan apps let you scan a barcode to compare prices and decide whether to request a match.

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Price matching can save you real money at checkout, yet fewer than 10% of shoppers ask for it.

Kevin Brasler recalls barraging an obliging salesperson with questions about car seat safety when he was a concerned new parent.

Before they checked out, Brasler and his wife found the seat they were considering for $50 less on Amazon.

However, they likely could’ve purchased the car seat in store and gotten the Amazon price by simply asking the retailer to match it.

Brasler is executive editor at the nonprofit Consumers’ Checkbook.

Even though price matching works, less than 10% of consumers do it, according to Sucharita Mulpuru, chief retail strategist for annual commerce industry convention Shoptalk.

And stores that advertise price matching aren’t a surefire bet for the best deal.

“You need at least some segment of customers to regulate the pricing behavior of retailers,” Kumar says.

Courtney Jespersen is a staff writer at NerdWallet, a personal finance website.

This article was written by NerdWallet and was originally published by The Associated Press.

Price matching means asking a retailer to meet a lower advertised price.

The savings can be meaningful.

Fewer than 10% of consumers price match, according to Sucharita Mulpuru, chief retail strategist for the Shoptalk convention.

Check retailer websites for their price matching policies.

If you find your item for less after buying it, ask for a price adjustment within the retailer’s grace period.

Billshark negotiates your bills for you — no savings, no fee.

Billshark helps lower internet, wireless, cable, satellite radio, and other monthly bills.

Our experts handle providers for customers and share updates throughout the process.

Customers pay only when Billshark finds savings on eligible bills.

1 The Deal You Almost Left on the Table.

2 How Price Matching Actually Works.

3 Why So Few Shoppers Bother.

4 Here’s How You Can Price Match.

Frequently Asked Questions.

What is price matching and how do I request it?.

How much money can price matching actually save?.

Why do so few people use price matching?.

How do I find out if a store offers price matching?.

What if the price drops after I already bought the item?.

5 Best Browser Extensions to Save Money Shopping Online.

5 Tips to Save Money on Back-to-School Shopping.

Black Friday: No Price Match?.

Holiday Money Hacks: Save on Gifts, Travel & More.

Year-Round Savings: The Best Buys Every Month.

Use Price Matching to Avoid Leaving Money on the Table (by NerdWallet)

1 The Deal You Almost Left on the Table

2 How Price Matching Actually Works

3 Why So Few Shoppers Bother

4 Here’s How You Can Price Match

Frequently Asked Questions

What is price matching and how do I request it?

How much money can price matching actually save?

Why do so few people use price matching?

How do I find out if a store offers price matching?

What if the price drops after I already bought the item?

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Use Price Matching to Avoid Leaving Money on the Table (by NerdWallet) page context