With the holiday season fast approaching, Toys ‘R Us has announced that it will be expanding its price matching policy to include online retailers such as Walmart.com, Target.com, BestBuy.com and Amazon.com. As retailers gear up for their busiest and most competitive time of the year, the importance of having the best price on offer is paramount.
Toys R Us has joined the ranks of retailers who are extending price matching to include prices found online, in a move to combat the expected increase of showrooming this holiday season.
“With online shopping growing rapidly, the addition of online competitors to our already strong Price Match Guarantee enables consumers to take advantage of our vast assortment of toys, while being assured they are getting the best price”, said Linda DeNotaris, manager of corporate communications at Toys R Us.
During last year’s competitive holiday shopping period, Best Buy and Target both announced that it would match prices with online competitors – deciding to make price matching permanent after the holiday season. Indeed, Best Buy’s price-matching has led to a strong comeback for the electronics retailer. According to Best Buy’s CEO, “We love the traffic on our site, in our stores, and we don’t want to lose a customer because of price. But we don’t feel that we need to be lower than the competition. We just don’t want to be beat”.
However, for retailers who regularly monitor competitor prices, showrooming should not be perceived as a threat – and should be seen as a real opportunity. Amazon’s automated pricing systems are constantly trying to price lower than retailers most of the time. In order to compete effectively, you need to understand Amazon’s prices as well as other retailers’ prices and offer the most competitive price on the market. If you’re charging significantly more than your competitors for no good reason, you are guaranteed to miss out on sales.
With Profitero, you can receive automated alerts notifying you of any changes to the pricing of your competitors’ products – for example when your products are 10% higher or lower than your direct competitors. This pushed intelligence allows you to react quickly to changes in the marketplace, ensuring you remain price competitive at all times and prevent you from losing out on sales. Find out more at firstname.lastname@example.org or visit www.profitero.com.
|Profitero.com: Web based competitor monitoring for retailers and brands
Pricing intelligence company Profitero provides retailers with actionable price intelligence data, monitoring over 50 million products across 4,000 eCommerce retailers every day, observing pricing, promotions and stock availability. We work with the world’s leading retailers, enabling them to acquire new customers and grow profit margins by monitoring and responding to changes in competitor pricing and promotional activity as they happen. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email email@example.com