Target is changing its price match policy effective July 28, reducing the scope from competitor retailers like Amazon and Walmart to only matching prices from its own stores or website. Customers can request price matches by providing proof of lower prices at Guest Services. Financially, Target faced a significant decline in net sales by $1.7 billion in 2023 and continued challenges into 2024. Following this downturn, Target's market capitalization is currently at $48.34 billion as the company adjusted its annual sales projections.
Starting on July 28, Target is changing its price match policy, which previously allowed refunds on identical items found cheaper at major competitors within two weeks of purchase.
The new policy limits price matches to identical items from other Target stores or the Target website only, excluding prices from competitors like Amazon and Walmart.
Target's net sales dropped by $1.7 billion, or 1.6% in 2023, and further declined in 2024, leading the company to cut its annual sales projections.
After years of explosive sales growth, Target's current market capitalization stands at $48.34 billion following a significant decrease in net sales.
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