Best Buy said some of Wal-Mart’s promotions, including a deal on the iPhone 5, had a measurable effect on its profits due to a price-match guarantee that requires the retailer to match the price of competitor’s ads. Best Buy said it lost about $65,000 in profit the day Wal-Mart’s promotion first ran on Facebook, because it was compelled to match Wal-Mart’s advertised $150 price, even though it concluded that Wal-Mart didn’t actually have a sufficient number of iPhones available.
Here is a cached version of the article.
Here in the UK most retailers with price-match guarantees state that they’ll only match if the competitor has the items in stock.
Doesn’t that happen in the US? Seems stupid not to.
I love the plural form “attorneys general.”
Best Buy needs to put their big boy pants on and stop whining about how badly they’re managed.
Sounds kinda Amazonish
Ha, those hypocrite bitches. I’ve repeatedly faced that limited stock game at Best Buy. There’s no crying in retail.