This phrase likely refers to a price matching scenario between two major home improvement retailers. Specifically, it suggests that one of these retailers, either Home Depot or Menards, will match a competitor’s price if it’s 11% lower. This practice is a common strategy used by businesses to remain competitive and attract customers who are looking for the best deal. For example, if a customer finds an item at Menards for $100, and Home Depot sells the same item for $111, Home Depot might offer a lower price to match Menards’ price plus an additional discount related to the “11” component.
The importance of such a price matching policy lies in its ability to instill consumer confidence and incentivize purchases. Customers are more likely to shop at a store that offers price matching, knowing they are getting the best possible value. Furthermore, such policies can create a competitive market environment that benefits consumers through lower prices. Historically, price matching has been employed across various retail sectors to maintain market share and respond to price fluctuations by competitors.
