Target said this morning it will match in its stores any price customers find on Amazon.com, Walmart.com, Bestbuy.com or ToysRUs.com. Target, which reported flat sales during the holiday season last week, is one of the first examples we’ve seen of a brick and mortar store matching online prices.
The giant discount retailer has been featured in our pages on a number of occasions, including our Most Innovative Companies list for its innovation in design–the retailer has featured capsule collections by everyone from Eugenia Kim to Michael Graves, sustainability–branding, and leadership. But now Target finds itself playing catchup. The company has seen a lot of failed expansions of its product lines over the past few years: grocery, lawn and garden, and global Pier 1-like imports. In 2013 the department store chain is going on an expansion spree, opening 16 new stores, some of which will be smaller and more focused.
Until recently, Target was seen as a Walmart competitor, but this move against Amazon suggests that all big box retailers now have a common enemy. Earlier this year, Target took aim at Amazon in a different way: banning Kindle hardware from its brick-and-mortars to make room for a focus on Apple store-within-stores.