We often find this term in online shops but, what does it mean? Many ecommerce, unable to always having the best price, offer its clients the possibility of improving its price if the client finds a competitor with a cheaper price. Thus they achieve two goals at once, on the one hand they win a sale on those price sensitive clients and on the other hand they obtain a source of information regarding its competitors’ prices.
We can find two types of price matching:
- Pre-sale: the commerce invites clients to inform about cheaper prices giving them the best offer found in return.
- Post-sale: Once the purchase has been carried out, the commerce will refund the client the difference between what he paid and the offer found, as long as the cheaper offer has been found by the client before a certain amount of time.
As we can see, the goal is always the same, obtaining sales in price sensitive clients. The question we should ask ourselves is how many clients we lose on pre-sales because they are not bothered about researching for another price? Probably the majority of them will end up purchasing in the competitor offering the best price. For this reason a Competitors´price monitoring software is ideal to always keep the most competitive prices, minimizing this loss of sales.
Despite its advantages, one of the main inconveniences of price matching is the need of checking out manually each one of our clients requests, as they may not always be true, or at least not exactly true, as they may be comparing new products with second hand ones, different delivery terms or times, etc.