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Target updates app after pricing dispute | Retail Dive

Dive Insight:
As much as retailers say they’re moving toward a world where the customer experience is consistent across all channels — be they stores, online or on mobile — dynamic pricing is one major tactic standing in the way. For brick-and-mortar mass merchandisers like Target and Walmart, though, competing with Amazon on price is essential to survival in the e-commerce landscape. It’s also a selling point to their customers.

“Target’s price match policy allows guests to match the price of any item they see at Target or from a competitor, assuring they can always get the lowest price on any item,” the company said.

Dynamic pricing plays a “crucial role” in increasing consumer price perception and retailer profitability, according to a 2017 report by McKinsey & Company’s retail division. Amazon is arguably the king of this strategy. When it came to transactions on Amazon’s marketplace, the use of dynamic pricing or “repricing software” increased by 15% in 2018 over the previous year, according to a report from Feedvisor.

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Target updates app after pricing dispute | Retail Dive.