Target agrees to price match Amazon 'year round,' hopes you'll stop showrooming

The CE pricing war just got really real. Gregg Steinhafel, Target's chairman, president and CEO, just announced a move that'll undoubtedly get the attention of Amazon. And while we're at it, the attention of Walmart, Sears, Best Buy, and practically every other major brick-and-mortar retailer that it competes with. Following Best Buy's move -- which saw the retailer price match Amazon during the holiday 2012 shopping season -- Target is taking it one step further by announcing that it'll match Amazon's prices year round. Naturally, the goal here is to put a stop to "showrooming," a term that describes the act of using B&M stores simply to ogle products before buying them for less online.

Details on how it'll all work out, including an official start date, remain under wraps, but we're told that if a customer "buys a qualifying item at Target and then finds an identical item for less in the following week's Target circular or within seven days on either Amazon.com, Walmart.com, BestBuy.com and Toysrus.com, Target will match the price." It's not at all unreasonable to assume that Wally World and the like will end up following suit, but a part of us worries that this may end up having the opposite effect -- if Amazon's pricing begin to float higher in order to meet somewhere in the middle with B&M retailers, consumers will end up with fewer options when it comes to saving.

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Source: Marketwatch, CNBC