$90 PlayStation 4 Scam Fools Wal Mart With Help From Amazon
Wal-Mart has sold several $90 PlayStation 4 consoles after honoring their online price-matching policy. Normally, the PS4 console retails at $399 at Wal-Mart, but Amazon users found a way around that.
Amazon allows any of their users with a registered selling account to create sales pages that are authentic-looking. Amazon users have been doing this, creating fake, cheap PS4 listings in order for Wal-Mart to obey their policy. Many of the customers who scammed the company has posted images on their social media pages, showing receipts that prove Wal-Mart accepted the fake Amazon listings.
— The Bigger Picture (@Rello910) November 19, 2014
Wal-Mart announced last week they would begin price-matching several online platforms, including Amazon. Greg Foran, president and CEO of the giant retailer said their new promotional offer was a response to what everybody else was doing. “About half of the stores were doing it anyways.”
“We’re committed to providing low prices every day, on everything,” reads the online price-matching policy. “So if you find a current lower online price from an online retailer on an identical, in-stock product, tell us and we’ll match it.”
It’s possible that their new price-matching addition will help prevent consumers seeing a product in a Wal-Mart store and going home to buy it cheaper somewhere online. Sometimes, consumers will use their phones to compare the in-store prices to those elsewhere, such as Amazon.
CNBC says that few employees have verified the legitimacy of these online deals as many customers took advantage of the $90 PlayStation 4.
Wal-Mart reported Thursday its third quarter results. Their profits surpassed Wall Street expectations. The fourth-quarter profit outlook is lower than expectations because of the aggressive holiday discounts like their Black Friday deals. According to Forbes, consumers are cutting back this holiday season, but “lower gas prices may encourage an increase in spending at retail stores.”
The retailers has not yet announced how they’ll repair their policy after selling $90 PlayStation consoles.
This article was syndicated from Business 2 Community: $90 PlayStation 4 Scam Fools Wal-Mart With Help From Amazon
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