Who hasn’t heard of price matching?
For the unfamiliar, the premise is simple:
Store A advertises a vacuum for $199.00. If you take the advertisement to Store B, which offers price matching and has the same vacuum for a higher price, they’ll sell the vacuum to you for Store A’s price (or better).
This can be convenient if you don’t want to go to five different stores just to grab what’s on your shopping list.
Easy, right? Yes, and no.
The above scenario would fit the mold for every situation that warrants a price match in a perfect world. However, there are a few pitfalls to watch out for when price matching. Let me give you some tips that will make your efforts worthwhile:
Pay attention to the details, or you may not save money at all. Some stores will advertise a product in their flyer, let’s say, a can of Bumble Bee tuna. Many stores sell this brand, but the real trick lies in size. Some stores carry an exclusive size for the products they offer.
This means that although Store A advertises the Tuna for $1 a can, the can might be 4 oz – a size exclusive to Store A. Other stores may only sell 5 or 6 oz cans. Stores know that many people don’t realize this – but this tactic tricks them into visiting and spending money on impulse items.
Make it worth your time. Some people don’t see the need to price match because they can’t see the benefit – after all, who cares if you save just a few bucks? Remember though – stores are getting better with reward programs, reward credit cards, and special offers.
Do your research and find out which stores offer better rewards and better price matching policies.
Here’s an example: If Store A and B both have a sale on the item you want, but Store A offers reward points on their store card, along with an additional 10% off the purchased item, it may be worth your time to price match at Store A.
Get around overly pushy store staff. Sometimes stores can give you a hard time about price matching, even though they openly advertise it.
They may have rules about the limits of how many items you can purchase while price matching. The best way to tackle this is to shop at peak times.
Often a cashier will concede defeat if they know there’s a lineup of impatient people behind you.
Shop early. Since other shoppers are likely also price matching, they may end up selling out of the product entirely if you shop too late into the sale cycle. Head to the store the day the sale starts to avoid disappointment.
For some, price matching is a hobby, not a necessity. There’s a whole system in place for people who want to master the fine art of the deal.
We’ve mastered the fine art of setting you up for financial success. Reach out to us online or by phone at 513-563-PLAN (7526) to set up a free 15-minute call to find out how we can maximize your dollar for your financial future.
No sneaky tricks needed!
