E-commerce giant, EBay Inc has announced that it would match top rival's prices for a number of popular products in an effort to attract customers.
In the fall, eBay will guarantee three-day delivery for tens of millions of items for the first time, a logistical feat that Amazon.com Inc has already mastered. EBay has also shifted away from its former core online auctions towards fixed-price sales in line with big retailers.
Now, eBay will guarantee that the roughly 50000 new products on its Deals site will be at least as cheap as identical items sold by Amazon, Wal-Mart Stores Inc, Target Corp and other major retailers on the web. Shoppers must contact eBay's customer service team about relevant price disparities to receive a coupon they can apply at checkout.
Hal Lawton, Senior Vice President of North America at eBay, said, "Our eBay Deals selection has grown exponentially since being launched in 2011. The vast majority of our deals are already lower priced or equal to our competitors, but if a shopper finds it for less, we’ll gladly match the price of our competitors."
EBay Deals accounts for more than $1 billion of the company's annual gross merchandise volume, the total value of all goods sold on its websites.