UNDATED (www.incnow.tv) – Employee’s at brick-and-mortar stores have got a new weapon to get customers to comit to making their purchases in store rather than online but offering up “price match” as an incentive.
Retailers pride themselves on the knowledge many of their employees have products. But “showrooming” is causing those same retailers to begin losing out on money even when store traffic looks good. Showrooming is when consumers come into a store to benefit from sales staff expertise and then buy online.
Retailers will begin a bigger push at product price match in an attempt to help lure customers into making those purchases in person rather than online.
Richard Feinberg, a professor of consumer science and retailing says that by offering to price match attracts the most price-sensitive consumers and those consumers who use price match buy other items that don't qualify for price match. That tendency helps retailers recover the cost of the price match.
Feinberg offers two cautions to consumers:
* Read the fine print. Some price-matching policies are restrictive, and a slight variation in a product may disqualify it from a price match.
* Some retailers don't advertise price match. The only way to find out if it is offered is to ask. In fact, he says, retailers are so anxious to keep customers that they may agree to a price match even if it isn't policy.
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