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Target will no longer price match with their major competitors
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Target's price matching policy has officially come to an end after 12 years
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The popular retailer says they will now only price match on products either sold at Target
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or on their website. A retail yst we spoke with found the timing of the policy change
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interesting. Back to school shopping is ramping up and consumers are actively looking for deals
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particularly in this post-inflationary economy where there's so much uncertainty. The change also comes as Target sees declining sales numbers
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They announced a sales drop of nearly 4% in their first quarter earnings report this year
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I think they are going to take a short-term hit. And what will happen, I guess they'll have to do a little bit of soul searching
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and figure out where they went wrong with this and maybe revisit the price matching
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or maybe come up with some other way to try to recruit or bring in new customers and retain them
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or bring back former loyal customers. For Straight Arrow News, I'm Lauren Keenan
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