As a picky shopper and consumer analyst, I always aim to get the best bang for my buck, especially on big purchases. And these days, most of us are walking around with $500+ supercomputers in our pockets. With smartphones being such an essential part of daily life, buying a new phone is a serious investment!
Before spending hundreds on your next mobile device, any smart shopper has to do their research. One key factor many people consider is a retailer‘s price matching policy. A recent consumer study found that 87% of shoppers check prices online before making in-store purchases. Over half expect a retailer to match prices with their competitors.
So what about the nation‘s largest wireless carrier, Verizon? Can you walk into a Verizon store, show them a cheaper advertised price, and expect them to match it? I dug deep into Verizon‘s pricing, policies, and competitors to find the answer. The results may surprise you!
Verizon‘s Official Price Matching Policy
I‘ll cut right to the chase. Verizon does NOT offer any form of price matching. Let me repeat that – Verizon will not match prices with any other carrier or retailer. Period.
This official policy is clearly stated on Verizon‘s website:
"Verizon does not offer price matching with other retailers or service providers. We do not honor any requests to match the prices of competitors."
That means if you find a lower price on a new iPhone or Samsung Galaxy from T-Mobile, Best Buy, Amazon or anywhere else, tough luck. Verizon will not adjust their pricing or refund you the difference. The same goes for cheaper talk, text and data plans from other carriers.
Why Doesn‘t Verizon Play Nice on Pricing?
So what gives? Why won‘t the biggest wireless provider in the U.S. budge on pricing?
The short answer: because they can afford not to. Verizon is sitting pretty with 120+ million subscribers and annual revenue over $128 billion. They‘ve built their brand on network quality and performance, not bargain-basement pricing. As a publicly traded company, Verizon‘s main focus is keeping shareholders happy with consistent profits and growth.
On a 2019 earnings call, Verizon CFO Matt Ellis had this to say about pricing strategy:
"Some of our competitors have chosen to compete primarily on price…but we believe that customers value other aspects of their wireless service just as much if not more than simply the price they pay each month…we compete on the quality, reliability and overall value that we provide."
Translation: Verizon‘s not interested in a race to the bottom on price. They‘d rather focus on network performance and their high-value customer base, even if that means losing some penny pinchers to cheaper carriers.
How Verizon‘s Prices Stack Up
So now we know Verizon won‘t price match. But just how much pricier are they than the competition? Let‘s take a look at some hard numbers.
Here‘s how Verizon‘s cheapest unlimited plan compares to similar offerings from AT&T and T-Mobile for a single line:
| Carrier | Plan | Monthly Price |
|---|---|---|
| Verizon | Start Unlimited | $70 |
| AT&T | Unlimited Starter | $65 |
| T-Mobile | Essentials | $60 |
As you can see, Verizon charges a $5-10 premium over comparable base-level unlimited plans from other major carriers. That adds up to $60-120 per year!
The story is similar for smartphone pricing. Verizon routinely charges higher retail prices than manufacturers and mainstream retailers. Here‘s a comparison for popular Apple and Samsung models:
| Phone | Verizon | Best Buy | Amazon | Walmart |
|---|---|---|---|---|
| iPhone 12 64GB | $799 | $699 | $729 | $699 |
| Samsung Galaxy S21 128GB | $799 | $699 | $649 | $699 |
Ouch! Buying directly from Verizon, you‘d pay $50-150 more than by purchasing the exact same phone from a big box store or online retailer. And this is for buying the device outright – the price gap may be even wider if you compare promotional deals and trade-in offers.
How Other Carriers Handle Price Matching
It‘s clear that Verizon is comfortable keeping prices high. But how do their competitors handle price matching? Here‘s a quick policy breakdown for the other major wireless providers:
- AT&T: No price matching on phones or plans
- T-Mobile: No official policy, but will sometimes match competitor deals for new customers
- Sprint (now part of T-Mobile): No price matching
The big carriers are pretty consistent here – none of them openly advertise or offer price matching. It seems they‘d all rather compete on network, features and promotions than trying to undercut each other‘s every price move.
But what about major electronics retailers? Here‘s how they shake out:
- Best Buy: Will price match phones from other retailers and carrier stores; won‘t match contract plan pricing
- Target: Price matches advertised prices from select competitors, including Verizon
- Walmart: Matches prices on identical in-stock items from select online retailers
- Amazon: No price matching, but will refund price drops on its own items within 7-30 days
So while carriers shy away from price matching, many big retailers will play ball, at least on device costs. This opens up opportunities for savvy shoppers to find the best deal by checking multiple sellers.
Getting a Better Deal From Verizon
Okay, so we‘ve established that Verizon won‘t officially price match. But that doesn‘t mean you‘re totally out of options for trimming your bill or scoring a discount. Here are some strategies to try:
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Negotiate as an existing customer. If you‘ve been with Verizon for a while, you may have some leverage to request bill credits, extra data, or other perks. The key is to come armed with competitor offers and be ready to port out your number.
Here‘s a sample script for calling Verizon customer service:
"Hi, I‘ve been a loyal Verizon customer for X years, but I‘m seeing much cheaper plans from [Competitor]. I like Verizon‘s service, but the price difference is too significant to ignore. I‘m wondering if there‘s anything you can do to help me stay a satisfied customer and avoid canceling my lines."
The rep may initially say their hands are tied on pricing. Be polite but persistent in asking for a one-time exception given your history with the company. With a perfect payment record and multiple lines, you‘ve got a decent shot at scoring some savings.
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Wait for a promotion. While Verizon doesn‘t price match, they do frequently run deals on phones, accessories and plans – especially around holidays and new device launches. These can include generous trade-in credits, free phones for new lines, bonus gift cards, and waived activation fees.
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Buy your phone elsewhere. Verizon lets you bring your own device to their network. If you find a killer deal on an unlocked phone from another retailer, you can save hundreds compared to buying from Verizon. Just make sure the phone is compatible with Verizon‘s network bands.
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Consider a prepaid plan. Verizon offers prepaid plans under the Visible Wireless brand. These plans are much cheaper than traditional Verizon postpaid service and don‘t require a credit check. You can bring your own device or buy one from Visible.
More Ways to Save on Mobile
Beyond these Verizon-specific hacks, there are plenty of other ways to keep more cash in your pocket when mobile shopping:
- Time your purchase. New phone models tend to launch in late summer through fall. If you can hold off upgrading until a few months after the latest release, you‘ll often find much better pricing and promotions.
- Consider last year‘s flagship. Phone technology doesn‘t evolve that quickly. A top-of-the-line phone from a year or two ago will still deliver excellent performance, battery life and features for most users. And you‘ll pay WAY less than the hot new model.
- Buy refurbished or open-box. Lightly used phones can be a great value. Check reputable sellers like Gazelle, Swappa, and Amazon Renewed for refurbs that are professionally inspected and come with warranties.
- Bring your own device. If your current phone is in good shape, consider keeping it and shopping for a better carrier deal. You can often find cheap bring-your-own-device (BYOD) plans from smaller carriers or mobile virtual network operators (MVNOs).
- Get on a family plan. Multi-line plans almost always cost less per line than individual plans. Consider teaming up with family or friends to share a plan and split the bill.
- Maximize your trade-in. Your old phone could be worth a nice chunk of change. Shop around at carrier stores, retailers, and online trade-in sites to see who will give you the most for it. Some carriers offer extra trade-in credit when you switch to their service.
The Bottom Line
It‘s disappointing that Verizon, the nation‘s largest wireless carrier, refuses to play ball on price matching. But unfortunately, their official policy is a hard no. Unlike many other major retailers, Verizon won‘t adjust pricing to beat competitor offers or promotions.
Behind the scenes, this policy surely pads Verizon‘s profit margins. It‘s a shrewd, calculated move for a publicly traded telecom giant that knows it can charge a premium based on perceived network quality and performance. For price-sensitive shoppers, looking beyond Verizon is probably necessary to score the absolute lowest cost on your next phone or plan.
But fear not, frugal friends! By expanding your smartphone search, carefully timing your purchase, and maximizing trade-in opportunities, you can still land an awesome mobile tech deal – even without an assist from Verizon on price matching.
