Walmart to end its price-matching program

Walmart announced earlier this week that it will discontinue its popular "Savings Catcher" price match initiative. Under the program, the retailer would match the price of a competitor if a shopper found an identical item priced for less than Walmart's price.

The retail giant would issue a gift card to that shopper with the difference in price. This initiative allowed Walmart to remain the lowest priced seller of numerous products.

May 14 will be the final day for shoppers to take part in "Savings Catcher." Walmart has said that it is ending the program as it has now learned that its prices do meet or match those of its competitors.

“Since the introduction of the program, we’ve worked hard to lower prices on thousands of everyday items across our stores, which has resulted in our prices winning the vast majority of the time when you submit receipts to ‘Savings Catcher,'” the company wrote on its website.

“This tells us that the program’s intent has been met, which was to provide you upfront with everyday low prices so that you and your family can save money and live better.”