Wal-Mart Stores, Inc. (NYSE:WMT) announced that it will price match other retailers, including some online retailers like Amazon.com, Inc. (NASDAQ:AMZN), but that plan has apparently backfired. Some shoppers were able to scam the big box retailer into selling them a PlayStation 4 for a mere $90.
How the scam works
NBC News reports that scammers have taken advantage of Amazon’s third party marketplace. Any Amazon member who is registered for a selling account on the e-commerce site can create what look to be real sale pages and list anything for sale.
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Since Wal-Mart said it will match Amazon’s prices, it means the big box chain had to honor its promise when someone listed the PlayStation 4 for $90. Shoppers simply take a picture of the webpage and show it to a Wal-Mart cashier when they go to check out at the store.
Playstation 4: Scammers take advantage of Wal-Mart’s policy
Apparently there aren’t many Wal-Mart employees who try to verify whether the webpages showing the ultra-low price of the PlayStation 4 are real. And with all the employee complaints about how the company treats them, this doesn’t come as much of a surprise. Not that it makes what the scammers are doing OK though.
According to NBC News, “many” shoppers were able to buy gaming consoles for $90. Users of both Twitter Inc (NYSE:TWTR)’s platform and Reddit posted photos of their receipts showing that they were able to get Wal-Mart to honor its price matching policy for the fake price on Amazon.
Yes! Got a ps4 at Walmart for $90! I already have one so I’m gon raffle it! Follow and retweet! Winner picked Nov 27 pic.twitter.com/zSPC6nx2KO
— PAULFIERCE (@PAULFIERCE) November 18, 2014
And here’s someone who pulled the same stunt with the Xbox One:
Today me n mike tried to take this to walmart n price match it with a $400 Xbox one LOLOL pic.twitter.com/hHy3QmQdMV
— Hayden Hoke (@haydenxhoke) November 19, 2014
Apparently some Wal-Mart locations are starting to catch on, as one Twitter user posted a sign they said was in a Wal-Mart store:
Walmart PS4 Amazon Price match was a failure for me… pic.twitter.com/a6GHth8jOp
— Niuqauj (@RisingGoesHam) November 18, 2014
The Consumerist suggests that the idea for this scam came after Sears Holdings Corp (NASDAQ:SHLD) made a major blunder in setting the price for the Nintendo at $60.