Walmart phasing out price matching

Walmart (NYSE:WMT) has quietly revised its price-matching policy, restricting the practice to its Savings Catcher mobile app at 500 locations, according to Consumerist.

Shoppers previously could bring in a competitor's ad for a price adjustment on items purchased at Walmart. But beginning June 9, that option will be dropped at the undisclosed locations.

Signs are being posted in stores, however, telling shoppers that the practice is being eliminated in favor of lower prices on hundreds of items, according to Coupons in the News.

Late last year, Walmart promised to invest in ways to lower prices across the chain, and CFO Brett Biggs said on a conference call with analysts that Walmart was able to "initiate our next phase of U.S. price investment earlier than planned."

"We began the initial phase of additional price investment late in the first quarter, lowering prices on key items in select geographies," Biggs said. Now those regions where lower prices have been implemented will be the first to see the end of ad matching.

But while the in-store practice is going away, the company will continue its Savings Catcher mobile program that automatically seeks out lower prices for shoppers who download the app and upload a printed receipt.

For more:
- see this Consumerist article
- see this Coupons in the News story

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