Automatic Price Protection?

Retailers - good ones - make every effort to remove any and all barriers to a sale. We see it all the time with efforts to create an inviting shopping experience, great product selection and top-notch customer service. Having great after-sale policies in place is a great way to reassure a customer and move them closer to a decision to purchase.

But something is missing.

Ask anyone helping customers in a physical retail environment if they have ever heard the question, "Is this going to go on sale soon?" I am quite sure you will get a nearly unanimous, "Yes, I hear that all the time."

What is going on in the shoppers mind? There is a reluctance here that needs to be addressed to move this customer into a place of confidence. An objection that needs to be overcome. The desire to have something right now is being impacted by a desire to not overpay for having it right now.

If the retailer has policies in place to protect a customer in the event of an item going on sale, this is normally where it is communicated. "We have an x day policy in place so that if it drops in price you can get a refund of the difference." That's great, but it places the responsibility for monitoring the future item price on the consumer.

I have personally saved thousands of dollars over the years doing this, but never enjoyed it and always felt like I was competing with the retailer for best value.

What if a retailer stepped up and announced that in the interest of keeping their customers delighted after the sale they would monitor a price drop for an item and automatically notify customers? What would that do to a customers perception of customer service and loyalty?

Please share this as widely as possible and let me know what you think. Perhaps we can nudge a retailer into trying this and it might just become a new industry norm.

Happy shopping!