Price adjustment (retail): Difference between revisions
Removed repeated words, standardized spacing, and slight rewrites for grammatical correctness. Removed poorly worded and nonspecific section about automatic price-adjustment tools - if restored will need to be cited carefully, and checked for grammar. |
Added {{Dead end}} tag |
||
| Line 1: | Line 1: | ||
{{Short description|Competitive practice in retail stores}}{{Globalize |article |United States |date=November 2013 |discuss=Talk:Price adjustment (retail)#Globalize }} |
{{Short description|Competitive practice in retail stores}} |
||
{{Multiple issues| |
|||
{{Globalize |article |United States |date=November 2013 |discuss=Talk:Price adjustment (retail)#Globalize }} |
|||
{{Dead end|date=December 2023}} |
|||
}} |
|||
'''Price adjustments''', also called '''price protection''', is a retail practice in the U.S. in which customers can obtain a partial refund of the purchase price of an item if they can show it on sale at a lower price within a fixed time frame. In such circumstances, retailers will do a “price adjustment,” refunding the difference between the price the customer paid and the price now available. For example, if a customer buys a TV for $300, and it drops in price by $100, they can go back to the retailer to ask for a price adjustment and get the difference returned to them, often in cash. Retailers with price adjustment policies include [[Macy's]], [[Gap (clothing retailer)|Gap]], and [[Staples Inc.|Staples]]. |
'''Price adjustments''', also called '''price protection''', is a retail practice in the U.S. in which customers can obtain a partial refund of the purchase price of an item if they can show it on sale at a lower price within a fixed time frame. In such circumstances, retailers will do a “price adjustment,” refunding the difference between the price the customer paid and the price now available. For example, if a customer buys a TV for $300, and it drops in price by $100, they can go back to the retailer to ask for a price adjustment and get the difference returned to them, often in cash. Retailers with price adjustment policies include [[Macy's]], [[Gap (clothing retailer)|Gap]], and [[Staples Inc.|Staples]]. |
||
Revision as of 07:06, 3 December 2023
 | This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these messages)
|
Price adjustments, also called price protection, is a retail practice in the U.S. in which customers can obtain a partial refund of the purchase price of an item if they can show it on sale at a lower price within a fixed time frame. In such circumstances, retailers will do a “price adjustment,” refunding the difference between the price the customer paid and the price now available. For example, if a customer buys a TV for $300, and it drops in price by $100, they can go back to the retailer to ask for a price adjustment and get the difference returned to them, often in cash. Retailers with price adjustment policies include Macy's, Gap, and Staples.
Price adjustments are not the same as return policies. With price adjustments, retailers will refund a customer the difference in cost even if the item has already been used. Returns, on the other hand, usually need to be in unused condition. Some retailers have different policies for in-store purchase and online purchases. Many retailers also exclude certain items from price adjustments, price guarantees, or price matching (like items that were on sale to begin with).
Price adjustments are also slightly different from price-matching policies. Price matching is the practice of a retailer offering a refund of the difference between their higher price of an item and a competing retailer's lower price for the same item. Price adjustments only compare different prices at the same retailer over time.
References
- Grant, Kelli (20 October 2008). "The Price (Adjustment) Is Right". SmartMoney.
- "Price Adjustment Policies". ABC7 News. 24 July 2006.
- Survey by Pricetector, Inc taken on Jan 20, 2011 on customer loyalty