Last Updated on December 27, 2021 by Laura Ritterman
As a shopper, you are always trying to get the best deals when shopping. One of the biggest ways retail brands help you attain this goal is by using price matching and price adjustment models. If you are going to be shopping at Costco, you may want to know if they have a price matching and price adjustment. Thankfully, we have all the answers. Read on below as we discuss everything you need to know about Costco, price matching, and price adjustment.
Table of Contents
Does Costco Price Match?
No Costco does not price match their competitor’s products. You are still able to request a refund if you’re not satisfied with your purchase.
You should understand Costco’s policy towards price matching and price adjustment. By understanding store policy, you can know how it will affect you as a buyer and how you can benefit from it. Below, we give you details about Costco’s price matching policy.
Unfortunately, Costco does not price match with any retailers.
Does Costco have a Price Adjustment Policy?
Yes the Costco Price Match Guarantee provides you a benefit of price adjustment within 30 days of the purchase date. If you find the identical product at Costco or costco.com at a lower price, your product is eligible for price adjustment.
Costco offers its buyers a chance to request a price adjustment for a particular product if the store offers a promotional price within 30 days of the purchase.
In such a case, the store will allow a price adjustment and refund the buyer the price difference from their previous purchase price and the promotional price. Instead, the store offers its customer competitive prices at the point of purchase.
Costco also offers refunds on purchases made under specific conditions within certain periods, apart from allowing price adjustments. However, refunds are not allowed on alcohol and cigarettes, especially where the law prohibits the practice.
You can expect the credit for the difference in Costco prices to be issued within 3 to 5 business days.
If you are a reseller, you must purchase an item during the promotional phase to receive a promotional price as the Costco price adjustment policy is only good for end consumers.
If for any reason, you find it impossible to get a price adjustment at Costco, you can return the item and buy it at a new, cheaper price at the local Costco warehouse or online.
How does their Price Adjustment Work?
A Costco Price Adjustment Policy is when you buy something from the Costco store or costco.com and when the price of the item drops later you’re entitled to claim your partial refund. Read the following points to know about Costco’s price adjustment policy for the product purchased from the stores.
- As soon as you apply for the price adjustment, credits will be issued within 3-5 business days.
- Unlike all the other companies, Costco will provide price adjustments even on Black Friday.
- Also, Costco is well known for its lower price especially in December to compete with the other companies.
For products purchased Online
If the product you purchased from costco.com and notice the reduced price for the identical product within 30 days. Just request a Price Adjustment.
To request you can contact Customer Service at 1 (800) 774-2678. If not through calling, you can fill up a form given in your account related to the Price Adjustments.
If you are a Costco Member then you have won a jackpot. Read more to know about the benefits Costco members get at price adjustments.
Also, take a look at the similar Price Adjustment Policy of Macy’s.
Process For Price Adjustment
Costco Price Adjustment Policy has mentioned steps to price adjust your product. Follow them.
- Find an identical product at a lower price.
- Take the Original Receipt at the store.
- Talk to the desk Associate.
- If the product is eligible for the Price adjustment, you’ll be credited within 3-5 days with the amount of difference.
Also, there are some locations that require the Original receipt and some don’t. But it is better to keep it with you. As the Costco store associate will print the adjusted price on the back of the original receipt.
Lost the receipt? Visit the store, contact the customer service desk and ask for a duplicate receipt and they’ll print the receipt for you. Still, try to keep the original receipt safe, as that can affect the price adjustment. Some stores will accept while some can ask for the original receipt only.
Price matching is a practice that involves offering the same or lower price for an item if the end buyer can prove that a competitor is offering a different price from the store they bought at.
On the other hand, price adjustment or price protection is a retail practice that allows customers to get partial refunds of the price of an item if they can prove that the item is being sold at a lower price within a fixed time frame, such as 30 days for Costco.
These two practices differ from return policies as a price adjustment will be allowed even if the item has already been utilized. However, returns usually require that the product be unused when being returned.
While many businesses embrace the cost-matching practice, Costco distances itself from this practice for the reasons we outline below:
One of the main reasons Costco does not allow price matching is that the profit margins at these types of businesses are already slim.
Many of the products at similar stores do not make any profits. If Costco matched prices with other retailers, the profit margins might become even smaller for these products.
While in the short term, such an arrangement may eat into the profits and cause increased prices in the future.
The stores that have embraced the price matching policy usually encourage their customers to check prices from their competitors. However, this can prove detrimental to the health of a business in the long run. To counter this, Costco encourages its customers by offering low overall product prices.
The store has amassed a loyal following so far with this strategy without needing to match prices with other retailers.
From a layman’s point of view, price wars may be beneficial, especially to the consumer. However, price wars are more destructive than beneficial for businesses. If there is an intense price war, there is a probability that some competitors will be forced to exit the field.
The remaining players will then have to adjust their prices accordingly or risk falling off like the competitors.
While Costco may not be doing what many other retailers in their field are doing, their approach informs the customer that they have something valuable to offer. Furthermore, the fact that you can always contact customer service is a plus.
Does Costco price match?
No, Costco does not price match with any of their products.
Does Costco allow price adjustment on their products?
Yes, Costco allows price adjustment on the products you buy from their stores.
How much time Costco provide to do price adjust?
Costco's price match guarantee gives you 30 days to price adjust your product.
How much cost is taken by Costco for gold star membership?
They cost $60 annually to access Costco gold star membership.
What is Costco Membership?
Costco mainly has two levels of membership 1) A Gold Star Membership 2) A Gold Star Executive Membership.
Does Costco Honor Older Sale Prices?
According to the store’s policies, Costco will only honor advertised prices when a sale is still ongoing. Adjustment happens only when you buy an item, and Costco lowers the product cost. Therefore, if you buy an item and discover that it was slightly cheaper sometime back, you will not buy it at a reduced price.
Does Costco Price Match Amazon and Best Buy?
Both Amazon and Costco are not involved in price matching. While we have explained the case of Costco above, you should understand that Amazon price matching will compromise the small businesses and companies that work with the company. Instead, Amazon will inform the buyer if there is a retailer with lower prices.
Furthermore, Costco does not price match with Best Buy.
Does Costco Price Match Sam’s Club
No Costco does not price match Sam’s Club or other competitors. Instead, they offer price adjustments.
Does Costco Offer Price Adjustments?
Yes. Costco offers price adjustments on store prices for their consumers to enjoy. In addition, Costco will credit the consumer the difference between what was paid and the promotional price if they are the end consumer and if they can prove that the purchase was made within 30 days of the price change.
However, as we have highlighted above, price adjustments preserve end consumers and not resellers. In addition, resellers can buy promotional items only during the time the promotion runs.
Does Costco Price Match or Price Adjust in Canada?
Yes. Costco offers price adjustments in other countries such as Canada and even the United Kingdom. At the same time, it does not price match in either. You will get refunds only from the location where you bought your item. If you are a Costco member, you can always find out about price adjustments and other offers on the coupons page.
Read More: Check out the Best Buy Price Adjustment Policy if you purchase from Best Buy also.
We hope that you got all the information that you were looking for to price match your product. Costco Price Match Guarantee provides you the benefit of saving your money in all ways. Just be alert of the reducing price and save your money.
Read Also: Kohl’s Price Match Policy and make your shopping experience smoother at Kohl’s.