BENTONVILLE, Ark. — Following a pilot in the spring, Walmart has announced plans to roll out its Savings Catcher, a receipt-comparison tool, nationwide later this summer.
Savings Catcher looks at other retailers’ ads and gives customers an eGift card for the difference if a competitor’s offering is lower than the price they paid at Walmart. The tool is designed to give shoppers added confidence when they shop by eliminating the need to visit multiple stores to find low prices.
At launch, Savings Catcher will compare approximately 80,000 grocery and consumables purchases. In the coming months, produce and general merchandise will also be added to the tool.
“Our customers are savvier than ever when it comes to finding the best deals — they are using technology to do their research and spending hours clipping coupons. We knew there had to be an easier way,” stated Duncan Mac Naughton, chief merchandising and marketing officer, Walmart U.S. “Savings Catcher offers customers yet another reason to trust us when it comes to helping them save. It brings greater price transparency to the market and gives our customers confidence that they are finding some of the best deals available in retail.”
Originally available only on Walmart.com, Savings Catcher will, now, be available on Walmart’s mobile app and compares advertised prices from retailers such as Aldi, Harris-Teeter, Target, Walgreens and HEB.
How it works:
- Go to Walmart.com/SavingsCatcher, or the Walmart app;
- Enter the receipt number located near the bottom of a Walmart receipt;
- Enter the date of the shopping trip;
- Savings Catcher looks at the eligible items purchased at Walmart and then compares the price paid to the advertised prices in the weekly print ads of major local retailers;
- If Savings Catcher finds an advertised price that is lower than what was paid for the same exact item at Walmart, customers will receive a Walmart eGift Card for the difference.
Nearly one million receipts have been processed using Savings Catcher since Walmart launched its pilot in seven markets this spring. The tool ranks first on the retailer’s list of concepts tested to date.
In the near future, Walmart plans to also offer customers eReceipts and the option to instantly load each of their purchases into the tool automatically finding the lowest price available in their area. Savings Catcher and eReceipts will work together and lead to further innovations like eCoupons and automated shopping lists, the retailer stated.
“We are going to win by integrating digital and physical. Savings Catcher and its expanding capabilities are just one example of that. We are well-positioned to innovate and lead in the tech space, and you’ll see more of this,” added Mac Naughton.