To help shoppers save while beating their competitors, many businesses will offer price matching. However, many people do not take advantage of it. In fact, only 5 to 10 percent of shopping transactions reflect a price match.

Like couponing, it might take some preparation and research for the shopper, but it’s worth it.

KNOW STORE POLICIES

First, you need to know whether the store has a price matching policy.

For example, Walmart has a price matching policy, but it varies from its website to its stores.

Every store is different and can update its policy at any given time. Many will state their price matching policy online. If not, you could ask an in-store representative.

FIND THE BEST PRICE

Some ways to explore the best prices include:

• Download price-matching apps like Scan or ShopSavvy. Once you do this, all you need to do is scan your desired item's barcode to see if other places are selling it. If they have a better price, ask for the store if they offer a price match.
• Match products that are comparable. Some items like electronics may be harder to price match because retailers may offer different model numbers.
• Request a price adjustment for any items you buy that have a lower price than what you paid.
• Check prices online before you buy in-store.

GETTING THE MATCH

In many cases, you can ask an employee or the cashier to match a lower advertised price.

If you already purchased the item and find a lower price elsewhere, ask customer service to reimburse the difference if it’s within their grace period.

Typically, you will need a physical or digital ad to show proof of a lower priced offering.

Store prices always fluctuate, so keep an eye on your recent purchases, too. You may get a price adjustment refund for the difference by just showing them your receipt.

OTHER FACTORS TO CONSIDER

Price match experts use tools like the ones mentioned above for significant savings on big-ticket items. You will have to monitor and negotiate the prices and advocate for yourself as a consumer. Therefore, it pays to learn the price matching policies of your favorite stores.

For more on stashing extra cash, here are four easy ways to save.

Reviewed December 2022