Why Doesn't Costco Price Match Other Stores?

One of the best ways my phone helps my finances is by letting me comparison shop on the spot. See an in-store sale on something, but not sure if it's a deal? Boom, I can look up three other retailers in about a minute and compare prices.

But what happens when the price somewhere else is actually lower? Rather than schlep out to another store, sometimes I see if I can simply get a price match from where I am.

Unfortunately, if I happen to be at Costco, I already know the answer: Nope. Costco doesn't price match any competitors, ever. And there's no deep secret as to why; no, it all boils down to, "Our prices are already low enough."

"We're already competitive enough, thanks"

Alright, sure, that's not exactly how it's said on the website. Costco words it in a much more, you know, our-PR-people-wrote-this sort of way:

"Please rest assured that your satisfaction is our top priority -- that's why we're always working to bring you brand-name items at the lowest possible prices. However, because we already offer competitive prices at the point of purchase, we do not price match with other retailers."

But the point is the same. Costco already has pretty low prices. Moreover, it already has a very loyal membership base. Together, these two things mean Costco doesn't need to price match to keep its customers -- so why would it?

What to do when you see a better price

If your bank account won't rest without that lower price, it makes sense to look for other options. But without a price match option, you're limited mostly to a return-and-rebuy strategy. On the plus side, Costco has an excellent return policy that allows you to return most items for any reason, including finding it at a lower price elsewhere.

Certain items have stricter requirements. Electronics, for instance, need to be returned within 90 days. But that's actually longer than a lot of price match policies, so it should be plenty of time to know you got the best deal.

Does Costco price match itself?

Now, all this is not to say that Costco never price matches anything. You can actually get Costco to price match itself if prices drop on something you've recently purchased.

The specific wording goes:

"For members other than resellers, only purchases made within 30 days prior to a change in price and within applicable promotional item limits, are eligible for a price adjustment."

Granted, there are a bunch of limitations. For instance, you can't get a price match for Costco warehouse prices on Costco.com purchases. But it can be a handy tool if you make a big purchase, such as an appliance or electronic equipment, that then goes on sale the next week.

All in all, Costco's warehouse prices are often low enough that a price match would be of only limited value anyway. And with the power of your phone in your pocket, you can actually do your comparison shopping before you buy, making it less likely you'll miss out on a deal elsewhere.