Target (NYSE:TGT) announced today it plans to match prices year-round of several online retailers, including Amazon.com (NASDAQ:AMZN) and the online prices of Best Buy (NYSE:BBY), privately owned Toys "R" Us, and Wal-Mart (NYSE:WMT). As part of the new policy, Target stores will also match prices found on its own target.com site. The new online retailer price-matching policy takes effect immediately.
While Target's price match guarantee has been in place since 2009, the decision to match certain online retailers' prices was first instituted during the 2012 holiday shopping season.
According to Target CEO Gregg Steinhafel, "Guests can confidently shop at Target every day for the best value in retail." If a Target customer buys a qualifying item at a Target store and then finds the identical item for less in the following week's Target circular, or within seven days on Target.com, Amazon.com, Walmart.com, Bestbuy.com or Toysrus.com, or in a local competitor’s printed ad, Target will match the price.
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