Costco’s price adjustment is an excellent money-saving policy. It guarantees that you will receive a refund for the price difference if an item you purchased at Costco undergoes a price drop within 30 days of your purchase.
When utilized, loyal Costco customers can save hundreds of dollars annually through this price adjustment. This post reviews everything you need to know about this policy.
Key Takeaways
- Costco provides price adjustments within 30 days of your purchase date. It allows you to receive a refund for the price difference if your newly-bought product has a price drop.
- Costco products bought online can only be refunded online, and those from warehouses must be refunded at the same store they were purchased from.
Does Costco Do Price Adjustments?
Costco makes price adjustments for its products. However, this policy completely differs from the usual price-match programs offered by other retailers such as No Frills, FreshCo, and Best Buy.
Rather than offering you the lowest price in the market, Costco’s price adjustments only compare a product’s original price to its discounted price during a sale or promotion.
Then, it refunds the difference between the two values so that you won’t miss out on deals you would’ve otherwise enjoyed if you had bought an item later.
How Costco Price Adjustments Work
Costco’s price adjustment policy is straightforward. Suppose you purchased a product from the store within the last 30 days, and it’s currently on sale or being offered at a lower price. In that case, you can receive a refund for the difference between the original and the discounted listed value.
Note, however, that you can only request a Costco price adjustment online if you have also purchased your item(s) online. Similarly, the price adjustments for goods bought in-store can only be processed in person at a Costco warehouse.
How To Do A Price Adjustment For Costco Online
Here’s the process for online price adjustments at Costco.ca:
Step 1: Submit A Price Adjustment Request
You can easily initiate this process on the Costco website. Simply visit the company’s Price Adjustment page and click the “Request a Price Adjustment” button. After doing so, complete and submit the form you’ll find after signing in to your Costco account.
Step 2: Wait For The Confirmation
In a few days, you will receive an email confirmation stating that your request for a price adjustment has been approved.
Step 3: Receive Your Refund
After receiving your confirmation, it typically takes 5 to 7 business days for the refund of the price difference to be issued. The adjustment will be given to your original form of payment.
How To Do A Costco Warehouse Price Adjustment
Here’s the process for in-person price adjustments at Costco:
Step 1: Visit Your Costco Warehouse
Specifically, visit the Costco branch where you bought the item you want a price adjustment for.
Step 2: Speak To A Costco Representative
Proceed to the store’s Returns Counter and inform a presentative that you’re there for a price adjustment.
In most cases, you won’t need to provide your receipt, as your membership card will already show all the purchases you’ve made. However, some branches may still ask for it, so bringing your proof of purchase is advisable.
Step 3: Receive Your Refund
Once Costco’s representative verifies that your product is eligible for a price adjustment, they will process your refund.
The time it takes for you to receive the refund amount will vary depending on factors such as your specific Costco warehouse and original form of payment.
But from experience, the process usually doesn’t take longer than seven days.
Can You Do A Costco Price Adjustment Over 30 Days?
You cannot request a Costco price adjustment for purchases over 30 days. This time limit is one of the strict prerequisites of the price adjustment policy, and there’s no known way to work around this limitation.
However, I’ve heard many cases where in-store representatives have assisted customers in getting a price adjustment even though it has been several days after the 30 days limit.
So, you may still want to ask if you can receive a price adjustment after the limited time frame.
Things To Know About Costco Canada’s Price Adjustment
Here are some things you should know when considering a Costco price adjustment:
Price Adjustments For Online And Warehouse Purchases Are Different
The prices and inventory available on Costco’s website and its warehouses differ. Hence, as mentioned earlier, refunds for online purchases can only be processed online, and vice versa.
Always verify where you bought your goods and follow the appropriate steps for receiving the price adjustment for your specific purchase.
Some Restrictions May Apply
You can request a price adjustment refund on almost every Costco product. However, know that Costco has the right to deny price adjustments on certain items at their own discretion. For instance, promotional items may not be eligible for price adjustments.
Therefore, don’t be surprised if not all of your requests for price adjustment will be accepted.
FAQs
If you buy something at Costco and it subsequently becomes cheaper, you can receive a refund for the price difference, provided that it hasn’t been over 30 days since your date of purchase. The price adjustment policy applies to both online and offline purchases.
Yes, there are stores that price match Costco Canada. In fact, many retailers do. That said, feel free to show a cheap item you found in Costco to another retailer that offers a price match policy to see whether you can get a better price.
Costco may ban or penalize members who abuse the return policy. Since all purchases from the retailer are recorded under your name, it’ll be easy for Costco to identify whether you’re taking advantage of the free returns.
Costco is well-known for only capping its markups to only 15%. This is why its products are generally cheaper than most of its competing retailers, who often mark up 25% or even higher.
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