Costco is well known for its low prices and high product quality. There are close to 550 Costco warehouse stores in the United States. Costco runs on a membership system – to shop at Costco and take advantage of its low prices, you need to be a member.
Low prices and high quality are not the only things offered by Costco. When you shop there, you can also get free extended warranties on a wide variety of products. And if you are an Executive member, you get a 2% cashback reward.
If you are a Costco customer and are looking to save money on a specific product, this could be a good idea to check if the company has a Price Match.
Does Costco Have Price Match?
Costco does not do price match as they already offer the most competitive bulk price at their warehouse. Although Costco does not price match the prices of other retailers, its promotional prices can be used up to 30 days from purchase.
Costco will refund the difference between the price of a product and its retail price within 30 days of purchase for individual members. All purchases are subject to a refund if they are made for any reason beyond the company’s control.
Although Costco does not price match other retailers, they will sometimes offer promotional prices at its stores within 30 days of purchase. As long as the sale is happening, Costco will honor the advertised price.
Why Doesn’t Costco Do Price Match?
Most businesses are already too competitive. As a result, margins are already becoming even slimmer. Price matching can help erode those already slim margins and affect the profitability of many products in the future.
Price wars are not beneficial to the consumer. They can happen when multiple competitors go head-to-head in a given region.
Competition is good for consumers, but it can also backfire if it encourages people to shop at a rival. For instance, encouraging people to shop at a competitor can lead to higher prices for the same products.
Many stores, such as Costco, have refused to offer a price matching policy due to these reasons.
Does Costco Have Price Adjustment?
Yes, Costco does offer price adjustments. Price adjustment means if you buy something from a Costco warehouse store only to have the Costco price of that item drop shortly afterward, you are eligible for a price adjustment and a refund for the difference in prices.
For example, say you bought a TV set at Costco last month for $1,200. Then 3 weeks later Costco decided to drop the price of that TV set to $1,000. In this case, you are entitled to a price adjustment that would refund you the difference between the old price and the new price – $200.
All you have to do is to bring your receipt to Costco and ask for a price adjustment. Here is the process flow:
- Find the same product at a lower price
- Take it to Costco with the original receipt (You can also do this online by visiting Costco’s price adjustment page.)
- Go to the customer service desk and show it to the rep
- If the return is approved, you will get the payment difference in about 3-5 days.
You can do this under Costco’s price adjustment policy for up to 30 days after your original purchase.
Costco’s official return policy is “Risk-Free, 100% Satisfaction Guarantee.” For most products, you can return your purchase any time after your original transaction for a full refund. There are some exceptions. For example, for electronics and appliances, you only have 90 days (instead of unlimited time) after your original purchase to return. But still, it is a very generous return policy.
Does Costco Have Price Match in 2023?
As of 2023, Costco does not offer price match with other retailers. If a customer is dissatisfied with the price they paid for a product, they can return it and get a refund.
For example, if you bought a TV set at Costco for $1,500 and later on you find the same TV set on sale at Best Buy for $1,300, Costco is not going to match that $1,300 Best Buy price.
Instead, you can return your TV set to Costco and get a full refund of the $1,500 price, and then go to Best Buy to buy the same TV set for $1,300.
Costco strives to provide you with the best prices in the industry and they do it in a way that is fair and transparent.
Benjamin is a certified financial advisor, with over 10 years of experience in the industry. He is knowledgeable about various business and financial topics, such as retirement planning and investment management. Ben has been recognized for his work in the financial planning industry. He has also been featured in various publications.