Walmart is putting an end to one of its most popular shopping programs.
The retail giant has announced plans to discontinue its “Savings Catcher” initiative, which allows customers to price-match their Walmart purchases with nationally advertised products sold by competitors. According to a post on the company’s website, the last day for shoppers across the country to submit a receipt to the app-based tool is May 14.
“Since the introduction of the program, we’ve worked hard to lower prices on thousands of everyday items across our stores, which has resulted in our prices winning the vast majority of the time when you submit receipts to ‘Savings Catcher,'” the Bentonville, Ark.-based company said. “This tells us that the program’s intent has been met, which was to provide you upfront with everyday low prices so that you and your family can save money and live better.”
Traditionally, if customers are able to find a lower price on another website, Walmart would then issue a gift card with the amount of the difference. The balance will still remain on shoppers’ gift cards until they choose to spend it.
On social media, customers have begun to express disapproval about Walmart’s decision to end the program. “Since you won’t guarantee to match prices anymore, I guess I will actually have to go to the place with the lowest price, which WONT be Walmart,” wrote one user.
Another claimed that the retailer’s “pricing is beat all the time & you don’t want to pay the difference.”
More shoppers also said they would take their business elsewhere, with one user even calling out the big-box chain’s competitor: “Target wins.”
Responding to FN’s request for comment, a Walmart spokesperson said, “We are at our best when we deliver everyday low prices for our customers, and we’ve been focused on doing that through investments in price. And customers are noticing — we’ve seen a significant reduction in usage and redemptions from ‘Savings Catcher.’ As a result, beginning May 14 this year, Savings Catcher will no longer be offered as we continue to offer upfront, consistent low prices to customers shopping our stores.”
This story has been updated with comments from Walmart.
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