Holy Moly: Staples to Price-Match 110%
Staples to Price-Match 110%
“Make More Happen.” This is the new Staples motto. In a bold move to combat lower prices from dollar stores and big names in online retail such as Amazon.com, Staples announced Tuesday they would match the price of any product and offer an additional 10 percent off the difference. The promotion begins Sunday, June 29 and will last until the first week of September.
Facing tremendous competition from stores specializing in back-to-school supplies and watching drearily as profits fell 43 percent in the first quarter of 2014, Staples reported they would close as many as 225 stores by the end of next year, saving a projected $500 million. The recent fall in revenue and store traffic ultimately played a role in throwing this Hail Mary of a campaign.
While shopping in-store, customers can show a sales associate the lower price on a new, identical item from a competitor, and online shoppers will have to call Staples (at 800-333-3330) and provide the item number of both the Staples product and the merchant's product they wish to price-match. The Staples associate will verify your claim and issue the match and the 10% discount on the phone. The offer excludes postage, gift and phone cards, and apps sold in the App Center. Moreover, Staples will be featuring weekly deals and everyday low prices on 30 back-to-school essentials as well.
A Response to Walmart’s Savings Catcher?
Falling revenue and site traffic may account for one reason why Staples decided to offer a 110% price match in the months leading up to the school year. One might also suspect it’s due to the infinitude of stiff competition across the Internet. But it seems too much of a coincidence that Walmart decided to unveil its Savings Catcher a mere month ago.
The reigning retail giant implemented this new service as a way for savings-savvy customers to retrieve the difference of what they just paid at Walmart and lower advertised prices elsewhere. Say you just bought a new sweater vest and you suspect you could’ve gotten a better deal. Simply enter the receipt number and date found at the bottom of your receipt and Walmart will compare the price you paid for it from the top stores in your area. They will then send you a Walmart Rewards e-Gift card for the difference. This excellent new shopping leg-up is designed to take care of the grunt work of searching out lower prices for thousands of items yourself.
Savings Catcher is only available in select markets: Atlanta, Charlotte, Lexington, Dallas, Huntsville, San Diego and Minneapolis.
Shop Staples this Summer
A store that is willing to price match Amazon and beat them by 10 percent deserves a tsunami of customers in July, August and September. If you work in an office that demands a low price for bulk supplies, a school that requires a continuous helping of discounted goods, or an eagle-for-deals parent that loves to save, consider this the perfect opportunity. While you’re at it, it might be a good idea to stock up for next year as well.
Visit Staples.com for more information.