The following was broadcast Oct. 25, 2011, on CW33. Marketing professor Ed Fox provided expertise for this story.
October 31, 2011
DALLAS— If you want Let's Rock Elmo for the holidays, and you buy it from Wal-Mart, then another retailer has it for less, Wal-Mart officials say don't worry.
Wal-Mart's new price match program says if you buy most items between Nov. 1 and Dec. 25, and then find it cheaper somewhere else, you can bring back the original receipt and the local competitor's ad, and they'll give you a gift card for the difference.
"So Wal-Mart is basically saying, 'We're going to match those prices after the fact,'" said Professor Edward Fox with the SMU Cox School of Business. "It gives shoppers the incentive to shop early. It gives shoppers an incentive to go to Wal-Mart and it gives their competitors a reason to be aggressive in their discounting."