Price Match Policies in Canada
If you haven’t been price matching, you are losing out on hundreds of dollars a year. That or you spend a lot of time running from one store to another in order to get the best deals, which is a waste of time and gas.
I mentioned that price matching is one of the easiest ways to cut your grocery expenses, but you can actually price match much more than groceries.
In this piece, we’ll cover some of the most popular price matching stores. In no way is this the complete list. If you’re looking for a complete list, this redflagdeals piece is probably the closest.
Why do companies price match
Before we dig into the most popular companies for price matching, have you ever wondered why a company would price match? I know I have and so I dug into it. There are a few different reasons, but the two biggest reasons are:
- These companies are looking to build brand loyalty. By doing so, they are hoping that you will choose them over their competitors when it’s an apples to apples situation.
- They are hoping that you pick up a little more than what you set out to purchase that day.
At the end of the day, they’re making a bet that allowing you to price match against their competitors will mean that you’ll give them more business than the cost of acquiring you as a customer.
How does price matching work
So now that we have a good idea as to why some stores offer price match (and some will even do a price beat), how do you take advantage of this?
The key for a successful price match is to have proof that their competitors have a better deal. In the past, that meant bringing in a flyer. But now, you can usually use an app that specializes in digitizing flyers.
You can also use the internet (assuming the store views an online retailer as a competitor), and I have even heard of some people taking a picture of the product in another store.
Types of price match
We’ve alluded to the idea that there are different types of price matching in the last section. Each store will have their own way of price matching policies, but here are the four most common ways they will price match:
1. The basic price match
The most common type of price matching is literally price matching. You bring in proof that one of their competitors are offering the exact same product and they will price match it to the cent.
2. Price matching with an additional discount that’s given in a form of points
This type of price matching happens typically when the company you’re buying from has some sort of rewards system, such as Canadian Tire. Canadian Tire says that they will match their competitors price and give you an additional 10% in Canadian Tire money.
3. Price beat by a certain amount
Then there are companies that will match their competitor’s price and beat it by either a set amount or a set percentage.
A good example for beating by a set percentage is Home Depot. They will beat their competitor’s price by 10% and I took advantage of this during my home reno project. I would see what Rona was offering and if there was something that I could get at both locations, I’d use my price matching app and go to home depot with the digital flyer of Rona.
An example of beating by a set amount is FreshCo. They will beat their competitor’s price by $0.01. Not much, but it’s still there.
4. Price beat by a certain percentage of the difference
This type of price matching is slightly more complicated. So we’ll use an example. Rona’s price matching policy is that they will beat their competitor pricing by 10% of the difference. Home Depot is a competitor of theirs.
So let’s say you wanted to buy a new light fixture that both companies have. Rona is selling it for $100. Home Depot is selling it for 90$. So you go to Rona to get it price matched. You show them the price of it at Home Depot and they agree to match and beat by 10% of the difference.
The first thing you need to understand is what the difference is: $100 – $90 = $10. Now what is 10% of $10? $1.
Now let’s put it all together. First they’ll match the price which means it goes from $100 to $90. Next they’ll beat it by 10% of the difference (i.e. $1) which means it goes from $90 to $89. That is now the price you’ll buy it at.
Price match apps in Canada
The most app used for price matching is Flipp. They are in the business of digitizing flyers and also have a pretty good search feature so if you are looking for milk, it will show you all the different stores and what price they are selling it at. You can use that as a quick way to price match it at a grocery store that accepts price matching.
Another app similar to Flipp is Reebee. There isn’t too much different between the two, besides that some stores will work with Flipp, some will work with Reebee, and most large stores will work with both.
Most popular stores that will price match
There are dozens of stores that will price match. You can find the list at redflagdeals piece. We’ll just cover the more popular ones. I’ll also try to leave a link to the fine print.
The one thing we need to buy every week. In my guide to saving $3000+ a year, I mentioned price matching groceries as one of the best things you can do. However, it is important to note which stores will price match:
- FreshCo: Will beat competitor pricing by $0.01.
- Real Canadian Superstore: Will match competitor pricing.
- No Frills: Will match competitor pricing, up to a maximum of four per item.
- Giant Tiger: Ad match guarantee.
- Walmart: Will match competitor pricing.
Best Buy price match policy
Note: my sister has price matched against Amazon at Best Buy before so that may be a great way to get some of your electronics.
Canadian Tire price match policy
Many people claim that Canadian Tire will price match and beat the price by giving you 10% of the different in Canadian Tire money. However, going to Canadian Tire’s website, this is all I was able to find. I guess you’ll have to try your luck!
Home Depot price match policy
Home Depot will beat competitor pricing by 10%. I was going to take advantage of this to buy myself an Ecobee when Rona had a Christmas sale for it, but I was a little too late (the store sold out). Anyway, here’s what Home Depot says about their price guarantee:
Sport Chek price match policy
Sport Chek will match competitor pricing, but you can only do it in store (no price match online).
Staples price match policy
It seemed like in the past, Staples was very generous with their price matching offers. But now it looks like Staples will just match competitor pricing.
Should you price match?
This was a question I used to ask myself quite often, and I think the answer is yes. There are two main reasons that I like price matching. The first one doesn’t even really have to do with the price.
Usually, these companies will be very close in price with each other. I will not go out of my way to save a dollar or two as it’s just not worth my time (and the gas I use might end up costing me more than the amount I save). However, I will use it to get me back some time.
What does that mean? Well, of the three big box hardware stores (Home Depot, Rona, Lowes), Home Depot is just a 3 min drive (10-15 min walk). Whereas the other two are probably closer to a 10 min drive. If I want to get something at one of the other two stores (because there’s a special), I’d just go to Home Depot and pick it up, saving me the time.
Now, there are definitely going to be scenarios when there’s going to be a huge discrepancy in pricing, that it would make lots of sense to price match in those circumstances. I just haven’t run into any situations like that for a while, so I have no examples to share.