Market Overview

Target's New Strategy Aims to Put Best Buy Out of Business

Target (NYSE: TGT) has found another way to keep consumers from shopping at Best Buy (NYSE: BBY), Walmart (NYSE: WMT), Amazon (NASDAQ: AMZN) and Toys 'R' Us -- by matching their prices all year long.

The company announced that it will price match items found on all four of those retailers' websites, as well as BabiesRUs.com and its own website, Target.com.

The new policy also applies to price adjustments that occur after an item is purchased and is effective immediately.

"If a guest 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," the company explained.

This provides consumers with one less reason to shop at competing retailers, but that might not be enough to win them over.

Neither USA Today nor the LA Times have received a single user comment on the matter. CNNMoney has received only four comments, two of which focus on the fact that Target stores did not previously match the prices listed on Target.com.

Target has yet to announce the new price match policy on its Facebook page, so it is difficult to gauge how consumers will respond within social media.

On Twitter, most of the tweets deal with the news itself -- but there are a few users reacting to the announcement.

@db thinks the news is "huge." @neffieleigh believes it is an "interesting move" for the retailer. @embereye agrees.

Investors do not seem to be nearly as enthusiastic. In fact, they might view this development as a sign of weakness, as the company has declined by nearly one percent today.

Follow me @LouisBedigianBZ

Posted-In: Amazon best buy TargetNews Retail Sales Success Stories Tech Trading Ideas Best of Benzinga

 

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