Most shoppers are always looking for a deal, but some will go to greater lengths than most to get one. And that was the case with a bunch of people who were able to buy $400 PlayStation consoles for just a quarter of their price after taking advantage of a loophole in Wal-Mart’s latest price-match promotion offer.
The story began on November 13, when the world’s biggest retailer announced that it would match its prices against select online retailers, including Amazon, in an effort to give a boost to sluggish sales in the run-up to the holiday shopping season. To take advantage of the deal, shoppers were asked to show their Wal-Mart cashier a screenshot of the online sales page of a rival online retailer and request the price match.
Well, it didn’t take long for some quick-thinking consumers to realize that any Amazon user with a selling account could create their very own Amazon seller page and list items “for sale” online at very low prices. News of the loophole spread like wildfire on social media, including Twitter and Reddit, with people even posting images of receipts showing PS4s purchased for as low as $90 at Wal-Mart, reports CNBC.com.
Of course, it was only a matter of time before Wal-Mart makes the necessary adjustments and put an end to the scheme. By Wednesday the retailer had already updated the terms and conditions associated with the price-match promotion.
The updated policy states that Wal-Mart stores will not honor prices from marketplace vendors, third-party seller, auction sites or sites requiring memberships. (Scroll down for the video.)
1. Eagle-eyed shoppers were able to purchase $400 PlayStations for just a quarter of the price after taking advantage of a loophole in Wal-MartΓÇÖs current price match promotion deal.
2. To take advantage of the offer, consumers were required to show their cashier a screenshot of the online sale page to request the price match.
3. The too good to be true deal couldn’t last for long and by Wednesday the retailer had cottoned on to what was happening and quickly updated the terms and conditions associated with the promotion.
4. On November 13 the world’s largest retailer had announced that it would price match items against select online retailers, including Amazon, in a bid to rev up sluggish sales in the run up to the holiday shopping season.
Wal-Mart said in a statement:
We can’t tolerate fraud or attempts to trick our cashiers. This kind of activity is unfair to the millions of customers who count on us every day for honest value.
Of course, by then plenty of people had already taken advantage of the loophole.
Here is the video report:
And here is CNBC’s report:
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