A glitch that happened online and in stores allowed some consumers to get huge deals at a leading retailer.
What Happened: News spread fast on Twitter Inc TWTR Thursday that a “Target Glitch” was allowing customers a $14.99 price point on many items.
The news went viral on social media and other deal sites before it appeared Target had solved the problem.
In New Jersey, Lakewood News reported many shoppers tried to buy $500 Target gift cards, which were shown with the $14.99 price point. One local resident told the news outlet they added $50,000 worth of the gift cards.
Many residents said they were sent $14.99 gift cards online instead of the advertised $500 amount.
Items like air fryers, Keurig brewers, grills and furniture were the most mentioned affected by the Target glitch.
One user showed a picture of a Whirlpool refrigerator normally $219.99 showing at then $14.99 price point.
Some consumers were able to get the honored $14.99 price point through self-checkout in the store, according to Bring Me the News.
Related Link: Target Stock Looks Like It’s About To Break Out
What’s Next: There have been reports of upset customers in stores demanding to get items at the agreed-upon price. Target has a price match guarantee and could now be questioned over advertised prices by themselves.
While the Target Glitch is unfortunate for the retailer, it could end up costing them no matter how they play it. The company could lose millions of dollars by agreeing to honor the price point or suffer the loss of customers and get bad publicity by refusing to honor the orders.
Benzinga reached out to Target, which was unavailable to comment at the time of writing.
TGT. Price Action: Target shares closed down slightly 0.13% to $228.42 on Friday.
Photo: Courtesy Target
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