What Are Price Adjustments and How Do They Work?

We’ve all had that sinking feeling. You just bought an item only to find the price dropped right after. For a bargain shopper, it can feel like a knife to the gut. However, if the store you purchased from offers price adjustments, no need to beat yourself up over purchasing a little too soon! Here’s what you need to know about how price adjustment policies work.

What Are Price Adjustments?

Price adjustments are when a retailer adjusts the price you paid for an item. Many retailers will give you a partial refund, allowing you to enjoy the lower price on the item rather than the higher price you originally paid.

How Do Price Adjustments Work?

Exact procedures vary between stores. Typically, you would request the price adjustment through the retailer’s customer service department. You can often do this by phone or in-store at brick-and-mortar retailers. Have your receipt handy. If you made the purchase using a credit card, they may also need that information to issue a partial refund. It is important to note that price adjustments often don’t apply to some special promotions, like Black Friday. The only way to know for sure is to read a store’s price adjustment policy and/or check with the store.

How Long After I Purchase an Item Can I Have the Price Adjusted?

Policies vary by store. Most retailers offer 7-14 days. However, some retailers offer as much as 30 days. Reading a retailer’s price adjustment policy can give you greater insight into what it covers.

Which Retailers Offer Price Adjustment Policies?

A lot of stores offer price adjustment policies. Even if you can’t find a published price adjustment policy, it may be worth checking with your favorite store to see what they offer.

Here are a few popular retailers with established price adjustment policies:

• Best Buy
• Costco
• The Children’s Place
• Home Depot
• JCPenney
• Kohl’s
• Macy’s
• Meijer
• Old Navy
• Sears
• Staples
• Target
• Victoria’s Secret
• Walmart

If you discover a store has dropped the price on an item you just purchased, don’t fret! Look for the retailer’s price adjustment policy or check with customer service to see if they can give you a partial refund for the difference.