As an avid bargain hunter and shopping expert, I‘m always looking for creative ways to save money on everyday essentials and household items. One of the most powerful tools in the savvy shopper‘s arsenal is price matching – the ability to get a retailer to match a lower price offered by a competitor.
Two of the biggest players in the retail game are Target and Costco, both known for offering competitive prices and attracting a loyal customer base. But what many people don‘t realize is that Target will actually price match Costco, both in-store and online.
In this ultimate guide, we‘ll dive deep into the world of price matching between these two retail giants. I‘ll share all the tips and tricks I‘ve learned over the years as a professional consumer advocate and deal hunter. Get ready to level up your savings!
How Common is Price Matching?
Before we get into the specifics of Target and Costco‘s policies, let‘s take a step back and look at how prevalent price matching is in the retail industry as a whole.
A 2019 study by the National Retail Federation found that 64% of retailers offer some form of price matching, with electronics and appliance stores being the most likely to offer it (79%) and furniture stores the least likely (46%).
However, just because a retailer offers price matching doesn‘t mean shoppers are taking advantage of it. A 2018 survey by Splitit found that only 11% of US shoppers "always" or "often" ask for a price match, while 49% said they never do.
So why don‘t more people price match? The top reasons cited were that it takes too much effort (36%), they forget about it (29%), or they don‘t want to bother the cashier (30%).
As a savvy shopper myself, I see this as a huge missed opportunity! With a little bit of organization and know-how, price matching can save you serious money in the long run. Don‘t be shy about asking for a price match – it‘s your right as a consumer.
How Target‘s Price Match Policy Works
Now let‘s get into the nitty gritty of how to price match at Target with Costco prices. The official policy is stated on Target‘s website:
We‘ll match the price if you buy a qualifying item at Target then find the identical item for less at Target.com, select online competitors, or in Target‘s or competitor‘s local print ad. Price matches may be requested at time of purchase or within 14 days after purchase. The full list of online competitors is available online or at Guest Services.
When it comes to price matching with Costco specifically, here are the key things to know:
1. It must be an identical item
Target will only price match items that are exactly the same as what Costco offers – same brand, size, weight, color, quantity, model number, etc. If there are any differences, even slight ones, Target may deny the price match.
2. You need proof of Costco‘s price
To request a price match, you‘ll need to show proof of the lower price at Costco. This can be a printed ad, a digital ad on your phone, or the live price on Costco.com (not a screenshot). If the cashier can‘t independently verify the price, they may deny the match.
3. Time frame for price adjustments
If you buy something at Target and then find it cheaper at Costco within the next 14 days, you can bring your receipt and proof of the lower price back to Target to get a price adjustment. This also works in the reverse direction – if you buy something at Costco and then find it cheaper at Target within 14 days, Costco should refund you the difference.
4. Exclusions and limitations
There are quite a few exclusions and limitations to Target‘s price match policy that you need to be aware of:
- Clearance, closeout, liquidation, and damaged items are excluded
- Target Circle offers can‘t be combined with price matching
- No price matches allowed from Thanksgiving through Cyber Monday
- Target.com purchases can only be price matched to certain competitor sites, which doesn‘t currently include Costco.com
- Costco liquor, alcohol and tobacco products are excluded
- Items that required a Costco membership to purchase can‘t be price matched
Real World Price Comparisons
So how much can you actually save by price matching at Target with Costco? Let‘s look at some real world price comparisons* across popular item categories:
| Category | Item | Target Price | Costco Price | Savings |
|---|---|---|---|---|
| Electronics | Apple AirPods Pro | $199.99 | $189.99 | $10 |
| Home | Dyson V7 Vacuum | $279.99 | $229.99 | $50 |
| Grocery | Starbucks Coffee, 40 oz | $13.99 | $9.99 | $4 |
| Health | Kirkland Daily Multi-Vitamins, 500 ct | n/a | $12.99 | n/a |
| Baby | Enfamil NeuroPro Infant Formula, 31.4 oz | $43.99 | $33.99 | $10 |
| Home Improvement | WD-40 Multi-Use Spray, 3 pk/12 oz cans | $9.39 | $6.99 | $2.40 |
| Apparel | Adidas Men‘s T-Shirt | $17.99 | $11.00 | $4.99 |
*Prices as of April 2023
As you can see, the savings from price matching can range anywhere from a couple bucks to $50 or more, depending on the item. The biggest savings tend to be on bigger ticket items like electronics and appliances.
Keep in mind that these are regular prices, not sale prices. One thing to note is that while Costco‘s regular prices are often lower, Target tends to run more frequent sales and promotions. So in some cases, the Target sale price may end up being cheaper than Costco‘s regular price.
Costco‘s Price Match Policy (or Lack Thereof)
While Target will happily match Costco‘s prices, the reverse is not true. Costco does not offer price matching to any other retailer, period.
The reason comes down to Costco‘s business model, which relies on a paid membership program ($60-$120 per year) and high volume sales of a limited selection of products. By not price matching, Costco maintains its perception of having the best prices and encourages customer loyalty.
However, Costco does offer an incredibly generous return policy:
We guarantee your satisfaction on every product we sell, and will refund your purchase price, with the following exceptions:
- Electronics: 90 days
- Diamonds: 48 hours for 1.00ct or larger
- Cigarettes and alcohol: where prohibited by law
- Products with a limited useful life expectancy, such as tires and batteries, may be sold with a product-specific limited warranty
In practice, this means you can basically return anything to Costco at any time for a full refund, no questions asked (with a few limited exceptions). Even if you‘ve used the item, as long as it‘s still in sellable condition, Costco will usually take it back.
So if you buy something at Costco and then find it cheaper at Target or anywhere else later on, you can always just return it to Costco and repurchase it from the cheaper source. It‘s not as immediate as a price match, but still allows you to get the lowest price in the end.
Price Matching Success Stories
To illustrate the power of price matching, here are a few success stories from my own experience and others:
-
I was able to price match a $400 Dyson vacuum at Target with Costco‘s price of $299, saving over $100. The whole process took less than 10 minutes and the cashier was happy to help.
-
A friend price matched an electric toothbrush that was $20 cheaper at Costco, and Target gave him the price match plus an additional 10% off. He ended up getting it for more than 50% off the Target price!
-
There‘s a famous example of someone who price matched a $1600 DSLR camera from Best Buy. He showed a leaked Black Friday ad from a competitor showing the same camera on sale for $1099. Best Buy initially denied the match, but after persistence and escalating to management, they honored it – a savings of over $500!
The lesson here is that it never hurts to ask for a price match, even if it‘s a high dollar amount. The worst they can say is no. And sometimes you might even get additional discounts on top of the match. It pays to be persistent and do your research.
Target vs. Costco: Which Has Better Prices?
This brings us to the ultimate question – which store has the best prices overall, Target or Costco?
Unfortunately, there‘s no easy answer. It depends heavily on what specific items you‘re buying, whether you have a Costco membership, and your shopping habits.
In general, Costco wins on regular prices for most items due to their bulk buying and no-frills business model. A 2018 price comparison by Cheapism found that Costco was cheaper than Target on 39 out of 50 items compared.
However, Costco mainly sells items in larger quantities, so you need to be able to use up or store the extra to realize the per unit savings. If you don‘t need bulk sizes, Target may be a better bet.
Additionally, Target offers a wider variety of brands and size options, gives you a 5% discount for using the RedCard, and tends to have better sales and promo discounts. So for some items and situations, Target can come out ahead.
Ultimately, the savvy move is to compare prices between the two (and other retailers) on the specific items you need, factoring in any coupons, discounts, or price matching opportunities. A little bit of planning and research can ensure you never overpay, no matter where you shop.
The Future of Price Matching
As online shopping has grown and dynamic pricing algorithms have gotten more sophisticated, the retail price matching game has gotten a lot more complex in recent years.
Amazon, the 800-pound gorilla of online retail, has historically changed prices on its products 2.5 million times a day – that‘s a different price every 10 minutes on average! Trying to price match that seems almost impossible.
Additionally, many retailers have quietly scaled back or eliminated their price matching policies in recent years. In 2016, Target actually closed a loophole that allowed customers to price match retroactively from a list of select online competitors.
And Walmart, the king of "everyday low prices", actually eliminated their price match policy entirely in 2020.
That said, I believe price matching is still an important tactic for budget-conscious shoppers, even if it looks a bit different in the digital age. Many retailers are introducing "price match guarantees", where they continually scan competitor prices and automatically refund you the difference if they find a lower price within a certain time period.
Additionally, third party tools and browser extensions like Paribus and Capital One Shopping can help automate price matching for online purchases. By monitoring price changes after the fact, these tools work to get you refunds without having to lift a finger.
At the end of the day, the price matching game is all about being an empowered consumer and advocate for yourself. By knowing store policies, doing your research, and not being afraid to speak up, you can ensure you‘re always getting the best price.
I hope this in-depth guide to price matching at Target with Costco (and beyond) has given you the knowledge and motivation to start saving on your everyday purchases. If you have any other questions or your own price matching success stories, I‘d love to hear about it in the comments below!
