Hardware giant Bunnings built its retail empire on a guarantee to beat any competitor’s price by 10%. And now online marketplace eBay, faced with increased competition from a range of rivals, is trying a similar strategy to attract and retain Australian customers.
eBay’s “Best Price Guarantee” launched today, offering to match prices with the likes of JB Hi-Fi, Harvey Norman, Amazon, kogan.com and even Bunnings itself – which could make for an interesting price off, promising vouchers for the price difference plus an extra 5%.
If you find a lower price on the same item on one of 120 rival websites approved by eBay within 48 hours of purchaser, then the company is offering an eBay voucher for the price difference – plus 5%. So for example, if you found something on eBay for $110 that’s $100 elsewhere, they’ll give you a $15 voucher.
The offer applies to new ‘buy it now’ listings, which eBay says covers more than 70 million items from Australia and overseas.
For the next week, until July 8, the company is also offering 10% off overseas purchases to beat the federal government’s new GST on international online purchases under $1,000.
eBay ANZ Chief Marketing Officer Julie Nestor, said the 10% off purchases applies on eBay.com.au, eBay.co.uk and eBay.com when customers spend $50 or more.
She called the price guarantee “the biggest program of its kind in Australia”.
“We know eBay sellers have the best prices, and we’re willing to put our money where our mouth is,” Nestor said.
The offer excludes products such as real estate, coin, services, cars, bikes, boats, tickets and travel and a few other categories and there are claim limits – one a day to a maximum of 10 per month, but Nestor says that with 40,000 Australian retailers on the site and more than 1 billion listings globally, there’s plenty to chose from.