Retail

Toys”R”Us: We’ll Match Amazon’s Prices This Holiday Season

Toys”R”Us doesn’t want to be outdone this holiday shopping season by some of its biggest eCommerce competitors, so the toy giant has announced it plans to match the prices of 20 of its biggest competitors this holiday season.

That offer will be good in both Toys”R”Us’ physical brick-and-mortar locations and online and includes some of its biggest competitors, like Amazon, Walmart, Sears and Target. The offer also extends to Toy”R”Us’ Babies”R”Us brick-and-mortar stores and online.

Toys”R”Us offered a similar price-match program in 2013, but it only extended to 11 of its competitors at the time, according to Internet Retailer.

Most forecasters are predicting robust holiday sales this season, and Toys”R”Us clearly wants to be able to compete in that space.

The National Retail Federation predicted that holiday sales would climb 3.6 percent this year to $658.8 billion, with online sales alone expected to jump 7–10 percent alone to total $117 billion.

PricewaterhouseCoopers, in its holiday forecast, was even more bullish on holiday spending this year, predicting that the average shopper will spend $1,121 this holiday season, a 10 percent jump from last year, and that spending will be fueled by families that earn $50,000 or less annually, who are encouraged by signs of an improving economy.

“The great news for all retailers is consumers are much more optimistic this holiday season,” Steven Barr, PwC’s U.S. retail and consumer leader, said in a statement. “They are expected to spend 10 percent more on gifts, travel and entertainment.”

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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