Target Corp planning to match rival prices this holiday season
Discount chain, Target Corp has said that it will match certain online retailers' prices during the coming holiday season in order to attract customers, according to Chief Executive Gregg Steinhafel.
Target will allow its customers to match prices from online retailers, including Amazon. com (AMZN. O), Walmart. com, BestBuy. com, Toysrus. com TOY. UL and Babiesrus. com between November 1 and December 16. The retailer had already matched prices for printed advertisements wit rival stores and will also match till December 24.
Steinhafel said that the company is planning to be highly promotional and intensely competitive in what is expected to be fiercely competitive holiday season in the retail market. Experts say that the retaiels are planning to be very aggressive this holiday season with offers such as free shipping and other enticements.
The decision by Target to offer price matching shows that the company aims to keep up with the rivals, according to analysts. Target is also planning for a big promotional push around the day after Thanksgiving, known as Black Friday.
Steinhafel also said that he expects the company to meet its financial goals in the year despite the fact that customer confidence remains low in the country since the 2007-2009 recession.