Walmart is one of the top retail chains in the world. Since starting in the American south, it watched its empire grow to include more than 4,000 stores in the United States alone. Though sales dipped slightly due to the recession and other economic factors, the company worked hard to change the way people thought about the brand. Walmart recently reported sales of more than $100 billion, which indicates the first rise in sales in the last few years. The company hopes to see a further increase when it unrolls its new price match guarantee.
Brick and Mortar Stores as Showrooms
At the same time that retail sales dropped, the number of online sales increased. Comp USA, Circuit City and other stores shut down due to poor sales, and other retail chains, including K-Mart and Toys R Us, saw themselves closing some of their existing stores. One reason for these decreased sales is a problem that industry experts call showroofing. This occurs when shoppers visit brick and mortar shops to look at products for sale and find out more about those products before going home and buying those items online.
Price Match Guarantee
Walmart was one of the first companies that introduced a price match guarantee. This policy let shoppers buy items in store that were available at a lower price elsewhere, and Walmart would drop the price to the amount offered by the other store. The only catch is this policy was that it required shoppers to show a sale flyer or some other proof of that low price. Walmart stores would also only price match stores in a specific area and not the prices offered by stores online or in other cities.
New Price Match Policy
The new price match policy lets shoppers receive lower prices on items sold on Amazon and other retail shops online. They don’t need to worry about tracking down banking locations to withdraw money from their accounts. They can simply show the price of the item online via a tablet or a smartphone. The store will then bring down the price of the item to that found online, and shoppers can pay with cash, check, debit card or credit card. With Amazon offering low prices on thousands of products going into the holiday season, this lets Walmart take advantage of those who don’t want to wait around for gifts to ship.