Product Price Adjustment Policies Save Canadians Money
Are you aware that some Canadian big box and grocery stores have a product price adjustment policy?
If you are then you know about the great savings you can pocket if you keep your eyes open after making purchases.
However, if you’ve never heard of this great Canadian policy you’ll learn how to put money back in your pocket.
How To Return Products To A Store
Generally, we all know about returning products or purchases are accepted across Canada.
Most stores offer a return policy for unopened, unused or defective products however not all offer cashback.
For example, if you shop at Value Village and return an item with your receipt you only get a store credit.
Once you have finalized a purchase at the point of sale it is now your product unless you need to return it.
Just be aware that not all stores allow returns so it’s best to ask before you pay.
You might want to return a product because:
- It wasn’t what you expected
- The product is defective
- You already have one and it was gifted to you
- It doesn’t fit
- The product was the wrong colour
- Food may be expired or tastes off, moldy or other food health concerns from Health Canada.
- Product recalls
- Wrong product
On a cautionary note be aware of a possible restocking fee.
Typically stores have anywhere from 30-90 days for return policy but again you’ll want to read their website or ask customer service.
This is strictly for returning products to the store.
However, if you want to keep the product you just bought but found it cheaper the following week you may be entitled to some money back.
This is called a product price adjustment in Canada.
Product Price Adjustment 101
What is a Product Price Adjustment Policy?
What most people don’t know is the Product Price Adjustment Policy for most stores also known as a Price Protection Policy.
If you buy a product and the exact product goes on sale cheaper than what you purchased it for then you may be able to apply the store policy.
Keep in mind the price adjustment policy time frame based on individual store management.
This is why it is imperative to always keep your receipts and to read the front and back.
Most often you’ll find the fine print carries the information you need.
You’ll also find what you need on company websites and at the bottom of most paper flyers that come delivered to your home.
How to ask for a product price adjustment
If you spot a product that you purchased in the timeframe allowed for an adjustment bring your receipt and the flyer to the store.
Most often the store has the flyer or ability to look up the product in question on their computer.
I’d just bring all of the information that is relevant so you aren’t going back and forth getting what you need.
All you need to do is explain to customer service that you purchased an item that was x amount of dollars during a certain time period and it’s on sale now.
You let the cashier know that you’d like it if they could please apply their price adjustment policy to the item.
What you get is the difference of what you paid for the product compared to the price it is on sale for.
For example, if you buy a BBQ for $799.00 and next week it went on sale for $399.00 you would get an adjustment for $400.
Typically when you ask for a price adjustment they will refund the difference in whichever tender you purchased the product.
An example would be if you paid by credit card the adjustment will go back on the same credit card.
Also, be aware that policy terms vary from store to store so the easiest way to find out is to call the store.
Product Price Adjustments Are NOT the Law
You may even find you can get a product price adjustment at certain grocery stores as well.
However, as I mentioned above I would call the store ahead of time to verify before heading over.
** Keep in mind these stores can change their price adjustment policy at any time.
As I find the links I will add them below.
I’m updating this post now in 2020.
- Future Shop
- Toys R Us
- The Gap
- Old Navy Price Adjustment
- Reitmans, Penningtons, Smart Set, Thyme, Cassis, RW&Co, Addition-Elle
- The Source
- Gap Price
- American Eagle
- Walmart Price Adjustment
- Home Depot Price Adjustment
- Giant Tiger
- Shoppers Drug Mart
- Best Buy
- Bath and Body Works
- Bed Bath and Beyond
- Marks Work Warehouse
- Club Monaco
- Children’s Place
- Pottery Barn
- Rona Product
Coming Soon- Updating 2020
Costco You have 30 days to return a purchase so if you notice a price drop return the item back with your receipt and ask them to price adjust. If they don’t then return the product on the spot and go and buy it for the sale price.
Real Canadian Superstore
Coming Soon- Updating throughout the year.
Importance of a Product Price Adjustment
Why is the Adjustment Policy in place?
This extended price policy as I like to call it is a good gesture in hopes of retaining customers who might be unhappy.
Don’t be a scammer though as it costs the company time and money.
I’ve heard of people who have gotten upset so they buy the product at the cheaper price and use the original receipt to return the first product.
I’m just happy the retailer is thinking about the consumer’s pocket-book even a small gesture like this.
In 2011 we saved over $300 in price adjustments just by watching the weekly prices in the flyers.
One of our best adjustments was a Swordfish UV Filter System which we paid $157.99 plus tax then it went on sale for $89.99 plus tax the following week.
So there you have it, saving more money in the budget!
Discussion: What is the best Product Price Adjustment you have ever received?