Price, price and price

The retail industry is awash with talk of low prices, unbeatable prices, price-match guarantees and low-price promises that consumers have grown numb to the claims. Actions will speak louder than words this holiday season, and shoppers know a value when they see one. That said, expect to hear plenty on the pricing front for the next two months with promotions coming early and often. In Target’s case, it appears to have staked out a solid position with its “low price promise” that went into effect nationwide on July 12. For the record, Target’s promise and those of other retailers tend to put the onus on consumers who have to provide documentation that another local retailer had the exact same item featured in an ad at a lower price. Assuming shoppers are able to meet that requirement, Target will match the price. The fact that customers have requested few price adjustments means little other than shoppers don’t like to deal with the aggravation of visiting the customer service counter with receipt and competitors ad in hand to claim an adjustment.