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Price Matching – Crucial Advice for Small Business Owners | smallbiz technology

Price matching has recently become one of the best tools in business competition. I’m sure you’ve heard of it, but just in case, price matching refers to a business policy where if a customer can find a lower price at a competitor store, the business will match – and sometimes even beat – the competitor’s price. It’s all a game to lure customers to your own shop instead of the competition, since price is often times the number one factor in where a customer decides to shop.

Price matching has been around for a while, but it’s become a little more complicated lately, with the growth of online shopping. Since store catalogs, prices, and sales ads are at the tip of everyone’s fingers, consumers have started a practice called ‘webrooming’ – researching items online before they buy in the store. They also may engage in ‘showrooming’ – checking out a product in store before they buy it online. These tactics put the power in the hands of the consumer, who has the ability to gather price facts and make an informed decision.

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Price Matching – Crucial Advice for Small Business Owners.

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