What is price adjustment?
Price adjustment, also known as price protection, refers to the retail sales policy that grants customers a partial refund of cash or credit when the price of a purchased item decreases in a given time frame. For example, if an item is purchased for $200 and the price of that same item drops to $70 within the price adjustment policy period, the customer can receive a $130 refund. This refund will come as a cash return or be sent back to the credit card used for purchase depending on the original purchase method.
Price adjustments are not the same as item returns. When an item is returned, it typically must be unused and unopened to qualify for legitimate cash or credit return. Price adjustments are available regardless of whether an item has been used. The only caveat to this money-saving policy is that companies offering price adjustments don’t notify customers when prices drop, so the onus is on the customer to stay vigilant in order to receive any potential money back.
How will I know when prices drop?
Stores don’t let customers know when prices drop – even if it’s within the customer’s rights to receive a refund in accordance with their price adjustment policy. If smart shoppers want to ensure they don’t miss out on refunds for the items they buy, they have to meticulously track their every purchase, scour websites, and visit stores daily to catch price drops they can take advantage of. Clearly this is a lot of work, and shoppers are almost certain to miss out on savings. Fortunately, there’s a better way. Moolah tracks the purchases you make through your email, automatically collects your refund, and returns it to you if a price is adjusted. It’s your easiest money-back hack!