Price-Matching Pitfalls: Best Buy Loses $65,000 In One Day
Best Buy lost $65,000 in one day by matching Walmart’s iPhone 5 discount on December 15, 2012, according to All Things D.
Walmart began the day by offering the phone for $127 instead of $190 and by offering iPads for $399 instead of $499. Best Buy was obligated to match those prices through an advertised guarantee.
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