Walmart just introduced a brand new program that Walmart shoppers are probably going to love. It’s called “Savings Catcher,” and basically it allows you to compare your Walmart receipt, right from the Walmart app, to prices offered by Walmart’s competitors. If the price you paid at Walmart is higher than somewhere else, say Target, Walmart will issue you a Walmart eGift Card for the price difference.
The program has been in a pilot in just seven markets for a few months, and Walmart says that it has already processed almost 1 million receipts since launch. The program is clearly in an effort to thwart show-rooming, or instances where a customer might go into a Walmart store to check out a good, before buying it a lower price online or elsewhere. Now, if there’s a lower price out there at another retailer, like Aldi, Harris-Teeter, Target, Walgreens and HEB, you’ll know about it.
There are a few caveats you should know about right now, however. First, right now it only applies to about 80,000 grocery and consumable products, Walmart said, but it will expand to produce and general merchandise “in the coming months.” Also, it compares prices to weekly print ads from its competitors, so you won’t be able to use Savings Catcher to take advantage of a lower price on Amazon, for example. And since it’s just consumables and grocery items right now, there’s no comparison to gadgets at Best Buy or other similar retailers.
Still, the process works right from the Walmart app, so if you paid $6.99 for your cereal at Walmart, but it’s advertised for $4.99 at Target, you’ll get the $2 difference back in a Walmart eGift card. Hopefully it expands to electronics soon, too.