Here we will see about the Does Costco Price Match?
The Costco wholesale corporation is one of the best destinations for shopping at the best prices. When it comes to discounts and saving, the first thing that comes to mind is price matching. So does Costco match the price? Does it reduce the price equal to that of competition who is selling a product at less price?
Unfortunately, Costco does have a price match. It does not reduce the price of products that are available at low prices in other stores. This is because Costco already sells products at a discounted price. Reducing the price, even more, will leave no profit for the wholesale corporation. However, it makes certain adjustments in prices and takes Return Of products for any reason.
Costco price adjustment policy
Costco does not match its prices with other stores. But it does adjust prices. In the adjustment Costco credit the amount that is the difference between purchased price and promotional price applied. This adjustment is only made if you had shopped with Costco 30 days before the application of the promotional price.
The amount is credited within a few days of asking for an adjustment. The adjustment option is available for both online and in-store shopping. Sometimes the adjustment is already credited to the account of the buyer. So before asking for an adjustment, first check your accounts.
If adjustment is not made by Costco, you can get it in done by-
- 1.If you had shopped from the Costco warehouse, then contact the warehouse for getting the adjustment done
- 2.If the purchase was made online from Costco.com, then contacting customer care will aid you in crediting the adjustment.
The price adjustment policy of Costco is only open for customers. Retailers can’t gain the amount back that is the difference between purchase and promotional price. Retailers can only get the advantage of promotional prices by shopping at promotional prices.
Why does Costco not match the price?
Various stores in the USA match the price with the price of competitors. But Costco does not. There are a few reasons for this-
Reduces the profit margin
Costco wholesale corporation sells its products at wholesale rate to the retailers and consumers. Therefore, it is already available at a very low price. Now if Costco reduces the price, even more, its profit margin will also reduce. There will be only a minimal profit that Costco would earn. Hence, it does not offer the policy of price match.
Marketing strategy
There is also a marketing strategy of Costco behind not having a price match policy. To avail the price match of any store, consumers may visit various stores to get the best prices. When consumers go to other stores, there might be chances that they get attracted by the prices and environment of that store. It will reduce Costco’s customer base. Therefore to not lose its consumer base, Costco does not have a price match policy.
To skip price wars
When a store offers any product at less price than the competitor, the other stores also reduce the price to not lose in the competition. There is no end to this process which results in price wars. To avoid this price war, Costco does not rely on a price match policy.
Costco take return for any reason
Apart from the adjustment policy, there is also a return policy at Costco. It will take the return and refund membership as well as merchandise. Products bought online or from stores, could be returned at the nearest warehouse. Online bought products could also be returned by requesting a return process.
The return policy of Costco is different from product to product. For example-
- The return period of electronic appliances is 90 days. After 90 days of buying, return is taken only against manufacturing faults.
- Return of diamonds more than 1.00 CT requires original papers of purchase.
- Alcohol and cigarettes are not returned at Costco.
- Personalized products designed after special orders are not returned.
Conclusion
Unlike many other stores, Costco does not price match. The price match policy is not worth it for Costco, as they already sell at wholesale rates. But if you get the same product at less price from somewhere else that you bought from Costco, the wholesale corporation will happily take it back according to their policy. Apart from price matching, the return and adjustment policy of Costco benefits buyers.
FAQ
- Does Costco allow you to shop at an old discounted price?
Answer: No, at Costco you can take advantage of promotional prices when it’s active and 30 days before activation. After the passing of the promotional period, the product will be given at the same price.
- Does Best Buy price match Costco?
Answer: Yes, Best Buy matches the price with Costco.com. You can compare the prices at Best Buy with the price at Costco.com. If the prices at Costco are less, then Best Buy will adjust their prices.
