Bargain Hunters Rejoice: Price Matching Popular in Filipino E-Commerce

For Filipino online shoppers, finding the best deal is like a national sport. That’s why “price matching,” where stores promise to match or even beat a competitor’s price, is becoming super popular in the Philippines’ bustling e-commerce scene. It’s a win-win: you save money, and stores get your business. Let’s dive into how this works, why it matters, and how you can be a price-matching pro.

What Exactly is Price Matching and Why Should Filipinos Care?

Price matching is pretty simple. It means a store will sell you an item for the same price as a competitor. Some stores even go further, offering a discount on top of matching the price. For example, if you find a specific brand of cellphone for PHP 15,000 on Store A’s website, and Store B offers price matching, they might sell you that same cellphone for PHP 15,000 or even slightly less, like PHP 14,900. This is a big deal in the Philippines because many Filipinos are very price-sensitive. Every peso saved counts!

Why is it so relevant in the Philippines? Well, the Philippines has a highly competitive e-commerce market. You have big players like Lazada and Shopee battling it out, along with countless smaller online stores. This competition is great for consumers because it encourages stores to offer better deals, including price matching. According to Statista, the e-commerce user penetration is projected to hit 59.6% in The Philippines in 2024. This large online user base means retailers need to fight for your business.

How Price Matching Actually Works in the Philippines

The exact process can vary from store to store, but here’s a general idea of how it usually works:

1. Find the Item You Want: Look for the product you want to buy. This could be anything from electronics to clothing to home appliances.
2. Find a Lower Price: Search other online stores or even physical stores to see if you can find the same item for a lower price. Make sure it’s the exact same item – same brand, model number, color, etc.
3. Gather Proof: This is important! You’ll need proof of the lower price. This could be a screenshot of the competitor’s website showing the price, a photo of an advertisement, or a link to the competitor’s product page. Make sure the screenshot includes the date and time.
4. Contact the Store Offering Price Matching: Most stores that offer price matching will have a specific process. You might need to contact their customer service via chat, email, or phone. Some stores even have a dedicated form on their website.
5. Present Your Proof: Show the store representative your proof of the lower price. Be prepared to answer any questions they might have.
6. Get Your Discount! If everything checks out, the store will usually adjust the price to match (or beat!) the competitor’s price.
7. Make Your Purchase: Now you can buy your item at the lower price!

Real-World Examples of Price Matching Saving You Money

Let’s say you’re looking to buy a new smart TV. Here’s how price matching can work in a real-world scenario:

Scenario: You want to buy a 55-inch Samsung Smart TV.

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• Store A (Lazada): PHP 30,000
• Store B (Shopee): PHP 28,000
• Store C (Abenson Online): Offers price matching.

Your Action:

• You take a screenshot of the Samsung TV on Store B’s Shopee page, clearly showing the price of PHP 28,000.You take the screenshot on 2024/01/20 at 9:00 AM.
• You contact Abenson’s online customer support via their chat feature.
• You show them the screenshot.

The Result: Abenson verifies the price and agrees to match it. You buy the TV from Abenson for PHP 28,000, potentially saving you PHP 2,000.

This scenario highlights how price matching can work in practice. Always be ready to search various online stores and physical shops, and keep those screenshots handy!

Things to Keep in Mind: The Fine Print of Price Matching

Price matching sounds great, but there are often limitations and conditions you need to be aware of. Don’t just assume a store will automatically match any price you find. Here’s what to look out for:

• Identical Items: The item must be exactly the same – same brand, model number, color, and specifications. A slight variation can disqualify you.
• Availability: The item must be in stock at both the store offering price matching and the competitor.
• Authorized Retailers: Many stores will only match prices from authorized retailers. This means the competitor must be a legitimate business, not some fly-by-night online seller. Be wary of incredibly low prices from unknown sources – they might be fake or selling counterfeit goods.

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• Exclusions: Some items might be excluded from price matching. This could include clearance items, limited-time deals, bundle offers, or items sold through auctions. Keep an eye for promotional periods such as 11.11 or 12.12 Sales, because sometimes price matching won’t apply during those times.
• Shipping Costs: Often, the price matching will only apply to the item’s price itself, not including shipping costs. So, make sure to factor in the shipping costs when comparing prices.
• Time Limit: Some retailers may only offer price matching for a certain amount of time after your purchase. Always check with the retailer about their specific time frame.
• Location Restrictions: Some retailers will only match prices from competitors within a certain geographic area, for example “Metro Manila only.”

Always read the store’s price matching policy carefully before you start shopping. This will save you time and prevent disappointment.

Common Reasons Why Price Matching Might Be Denied

Even if you think you’ve found a perfect price match, your request might still be denied. Here are some of the most common reasons:

• The Competitor is Not an Authorized Retailer: As mentioned before, stores usually only match prices from reputable and authorized retailers.
• The Item is Out of Stock: If the item is out of stock at the competitor’s store, the price match is usually denied.
• The Price is a Mistake: Sometimes, a competitor might accidentally list an item at a ridiculously low price due to a typo or error. Stores are usually not obligated to match these “mistake” prices.
• The Competitor is Selling Used or Refurbished Items: Price matching typically only applies to new, unopened items.
• You Can’t Provide Sufficient Proof: A blurry screenshot or a broken link might not be enough to convince the store to match the price. Make sure your proof is clear, accurate, and easy to verify.

Don’t get discouraged if your first price match request is denied. Ask the store representative why it was denied and see if there’s anything you can do to fix the issue. For example, if the competitor was out of stock, you can check back later to see if the item becomes available again.

Tips and Tricks to Become a Price-Matching Master

Want to become a pro at price matching and save even more money? Here are some tips and tricks:

• Do Your Research: Use price comparison websites and apps to quickly find the lowest prices on the items you want. A quick Google search can reveal numerous options.
• Take Screenshots Immediately: Prices can change quickly, especially online. If you find a great price, take a screenshot right away to preserve the evidence.
• Check the Store’s Price Matching Policy: As we mentioned before, knowing the store’s policy inside and out will save you a lot of time and effort.
• Be Polite and Patient: Customer service representatives deal with a lot of requests. Being polite and patient will increase your chances of getting your price match approved.
• Don’t Be Afraid to Negotiate: Some stores might be willing to go the extra mile to earn your business, especially if you’re a loyal customer. It never hurts to ask if they can offer an even better price.
• Consider Credit Card Benefits: Some credit cards offer price protection, which is similar to price matching. If you find a lower price after you’ve already bought something, your credit card company might refund you the difference.
• Track Prices Over Time: Use price tracking tools to monitor prices and see if they go down over time. This can help you decide when to buy.

Remember, price matching is a skill that improves with practice. The more you do it, the better you’ll become at finding the best deals.

Which E-Commerce Platforms in the Philippines Offer Price Matching?

While not every e-commerce platform in the Philippines explicitly advertises a “price matching” policy in the standard sense, many of them will unofficially match prices to remain competitive. Here are some platforms to consider investigating:

• Lazada: While Lazada doesn’t have a formal price-matching policy, they often run promotions and offer vouchers that can effectively lower the price of an item, making it competitive with other retailers. Keep an eye on flash sales and store-specific vouchers.
• Shopee: Similar to Lazada, Shopee relies heavily on promotions, vouchers, and Shopee coins to offer lower prices. Regularly checking these promotions can lead to significant savings. Some sellers might be open to negotiation, especially if you’re buying multiple items. You can also explore discounts on selected items on Shopee Philippines.
• Abenson: As mentioned in the earlier example, Abenson, a major appliance retailer, often offers price matching, particularly on electronics and appliances. Contact their customer service to inquire about price matching on specific items.
• Anson’s: This is another larger appliance retailer with both physical and online store, that may be open to price matching to acquire consumer sales.
• SM Appliance Center: One of the biggest retailers when it comes to electronics and appliances. Always a good idea to check if they offer price matching or any promotions on specific items.

It is important to note that price matching policies can change, so it’s essential to always confirm with each retailer directly for the most up-to-date information. Check their websites and contact customer services whenever possible.

The Future of Price Matching in the Philippines

As e-commerce continues to grow in the Philippines, price matching is likely to become even more common and sophisticated. Here are some potential trends to watch out for:

• More Automated Price Matching: Expect to see more stores using AI and machine learning to automatically track competitor prices and adjust their own prices in real-time. This would make price matching faster and easier for both shoppers and stores.
• Personalized Price Matching: Stores might start offering personalized price matches based on your shopping history, location, or loyalty status.
• Price Matching Apps: We might see the rise of dedicated price matching apps that automatically scan the internet for the lowest prices and help you submit price match requests.
• Expanded Price Matching Policies: Stores might expand their price matching policies to include more items, offer larger discounts, or match prices for a longer period of time.

The future of price matching in the Philippines looks bright. As technology improves and competition intensifies, shoppers will have even more opportunities to save money. It is expected the e-commerce industry revenue to show an annual growth rate (CAGR 2024-2029) of 12.25%, resulting in a market volume of US$24.50bn by 2029 according to Statista. So as more businesses enter the market, price matching will be useful for consumers looking for the best deals.

Price Matching vs. Price Adjustment: What’s the Difference?

It’s easy to confuse price matching with price adjustment, but they’re not exactly the same thing. Here’s the key difference:

• Price Matching: You find a lower price before you buy the item, and the store agrees to match that price.
• Price Adjustment: You buy the item, and then you find a lower price at the same store within a certain period (usually 7-14 days). The store then refunds you the difference.

Not all stores offer price adjustments, but it’s worth checking if they do. If you buy something and then see it go on sale a few days later, you might be able to get some money back.

Staying Safe: Avoiding Scams and Fake Deals

While price matching can save you money, it’s important to protect yourself from scams and fake deals. Here are some tips to stay safe:

• Be Wary of Unbelievably Low Prices: If a price seems too good to be true, it probably is. This could be a sign of a scam or a fake product.
• Check the Seller’s Reputation: Before buying anything online, check the seller’s reviews and ratings. Look for sellers with a long history of positive feedback.
• Use Secure Payment Methods: Use secure payment methods like credit cards or PayPal, which offer buyer protection. Avoid paying with cash or wire transfers.
• Read the Fine Print: Always read the terms and conditions of any deal before you buy. Make sure you understand the return policy, warranty, and any other important details.
• Trust Your Gut: If something feels off, don’t buy it. It’s better to be safe than sorry.

Being careful and doing your research will help you avoid scams and fake deals. Remember, the goal is to save money, not to lose it!

Price Matching in Physical Stores vs. Online Stores

Price matching isn’t exclusive to online shopping. You can also take advantage of price matching policies in brick-and-mortar stores. The key difference lies in how you present your proof.

Physical Stores:

1. Carry a printed ad or show the price on your phone: You will usually show the actual advertisement or the mobile app/website on your phone to the cashier or store representative.
2. Check inventory: Ensure that the store has the item in stock before requesting a price match to avoid complications if the store runs out of stock.
3. Inquire and clarify: Ask the store if they price match with online retailers as some only match prices with other physical stores in the area.

Online Stores:

• Screenshots: Screenshots are your best friend when dealing with online stores. You’re going to use your screenshot as your piece of evidence, so make sure the screenshot contains the right information.
• Customer Support: Utilized the customer service reps by getting in touch via email or chat to present the price difference and the screenshot as your evidence.
• Check the T&C: As mentioned earlier, familiarize yourself with the store’s T&C, to make sure you get the best deal by following all of the requirements.

Whether you’re in a physical store or shopping online, the core principle of price matching remains the same: find a lower price and ask the retailer to match it!

Is Price Matching Worth the Effort?

Is price matching worth spending time to do? Absolutely, it can save you a lot of money, especially on big-ticket items like appliances or electronics. Even small savings can add up over time by using it frequently. Plus, price matching can give you peace of mind knowing that you’re getting the best possible deal.

However, price matching can also take time and effort. You need to research prices, gather proof, and contact the store. It’s up to you to decide if the savings are worth the effort. In the Philippines, where many families are on a tight budget, even small savings can make a big difference.

Frequently Asked Questions (FAQ)

Q: What if the competitor’s price is only slightly lower? Is it still worth asking for a price match?

A: Yes, it’s almost always worth asking! Even if the difference is just a few pesos, you have nothing to lose by asking. Plus, some stores might offer a discount on top of matching the price.

Q: What if the store refuses to match the price?

A: If the store refuses, politely ask why. If their reason is valid (e.g., the competitor is not an authorized retailer), then there’s not much you can do. But if you believe they’re being unfair, you can try contacting their customer service department or looking for a different store that offers price matching.

Q: Does price matching work on sale items?

A: It depends on the store’s policy. Some stores will match prices on sale items, while others won’t. Always check the fine print.

Q: Can I price match with online stores if I’m shopping in a physical store?

A: Yes, some physical stores will match prices with online stores. However, you’ll usually need to show them proof of the lower price on your phone or a printed copy of the website.

Q: What’s the best way to find the lowest prices online?

A: Use price comparison websites and apps, search on multiple e-commerce platforms, and sign up for email newsletters from your favorite stores. Also, follow social media accounts to be in the know regarding any upcoming promos or discounts.

Q: Are there any downsides to price matching?

A: The main downside is the time and effort involved. It can take time to find the lowest prices and submit price match requests. Also, some stores might have strict policies or be difficult to deal with.

Ready to Start Saving?

Now that you know all about price matching, it’s time to put your knowledge to use and start saving money! The next time you’re shopping online, remember to do your research, find the lowest prices, and ask for that price match. You might be surprised at how much you can save. Happy shopping, ka-budget!

References

• Statista