It seems like price matching is a really great thing, right? After all, the idea is that you can get the lowest price on items that you want at the store you’re already in. Therefore, you save money every time. However, there are some downsides of price match guarantees. It’s important to consider these before you invest energy into price matching.
1. You Have To Do The Research
Obviously, we all know that comparison shopping is savvy. However, it’s also time consuming. In order to get the best price from price matching, you have to do a lot of comparison shopping. Obviously, if you don’t know what the best price is at another location, then you can’t prove it and request that price at a different store. So, think about the time and energy required to even find the lowest price on every single item you’re shopping for to begin with.
2. It Takes Time to Get The Best Price
In addition to the time that you take to research the best price, you’ll also have to put in time to get the price match. In other words, once you find that better price, you still have leg work to do. You’ll have to find the company’s price match guarantee. Then you’ll have to follow those steps to get the best price. For example, you might have to call a customer service number. Again, expending your time and energy is one of the biggest downsides of price match guarantees.
3. There Are Many Limitations
It might not be so time-consuming or difficult if all that you had to do was find a lower price anywhere at all. However, that’s not how price matching works. Instead, each business has its own rules about their price matching. Oftentimes, you’re only allowed to find lower prices at a handful of very specific competitors. Therefore, it doesn’t matter if you spot a lower price down the street, because it might not qualify for the deal. If you read the price matching rules of any of your favorite stores, then you’ll notice that there are lots and lots of limitations. Those limitations are definitely some of the biggest downsides of price match guarantees.
4. You Rarely Save a Lot of Money
Every once in awhile, it all aligns exactly as it should. You know your store’s price matching policy. You did the footwork and found out that you deserve a lower price on an item that you carry. The process to request the lower price wasn’t all that difficult. And yet, after all that, chances are that you don’t save much money. Sure, every penny counts. However, one of the biggest downsides of price match guarantees is that we truly often are talking about just pennies.
5. It Might Be Negative For Consumers as a Whole
Harvard Business Review is one of several sources that suggests that price matching isn’t good business. It penalizes shoppers who aren’t doing all of that legwork by charging them more for the same item. Moreover, it’s easier for large box stores to offer something like this, which in turn drives small business out of business. Therefore, there are many downsides of price match guarantees that affect society beyond just the individual.
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