Retail Price Match Programs Influence Where Consumers Shop

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According to a recent consumer perception study conducted by leading market research firm ClickIQ , 52% of shoppers indicated that a price match program encouraged them to shop at a particular retailer.

Walmart appears to be reaching its customers with 23% indicating that they have actually used the price match program at Walmart within the past 12 months.

Price match programs appear to be one of the determining factors in selecting which retailer to shop, according to a recent consumer perception study conducted by market research firm ClickIQ. Consumers were surveyed regarding their knowledge and use of everyday price match programs offered by major retailers. When respondents were asked if they were familiar with price match programs in general, 75% indicated that they were at least somewhat familiar with them and over half responded that price match programs encouraged them to shop at a particular retailer.

When asked about specific retailers and their knowledge of each retailer’s price match program, 35% responded that they were very/extremely familiar with the Walmart (WMT) program compared to 11.5% that were very/extremely familiar with the Target (TGT) program. Walmart appears to be reaching its customers with 23% indicating that they have actually used the price match program at Walmart within the past 12 months. This compares to only 5% that have used Target’s program during that same time period.    

Relating to Walmart’s new holiday price match program, respondents were asked without being provided a program description, if they were familiar with it. 32% indicated that they were. To determine the perception of Walmart’s new holiday price match program, all respondents were then given a brief description of the program and asked if they found the program appealing. Nearly 80% found the holiday program to be at least somewhat appealing with 43% saying it was very/extremely appealing.

Respondents were then provided with a description of Target’s everyday price match program and were asked which price match program they are more likely to use during the holiday shopping season. 50% answered that they would be more likely to use Walmart’s holiday program, 24% indicated they would be more likely to use Target’s everyday program, and 26% said they would use neither.
Methodology

Data was collected in an online survey with 401 of ClickIQ’s US consumer panel members from November 3, 2011 through November 5, 2011. The survey results have margin of error of +/-5% at a 95% confidence level.

About ClickIQ
ClickIQ, Inc., based in Minneapolis, Minnesota, is an award-winning market research firm that employs fully integrated online management tools, a proprietary consumer panel, and skilled market research analysts to deliver quantitative consumer and shopper insights to some of the best known and most respected companies across the U.S

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Robert Boese
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