As consumers hunt for the best deals during the holiday season, they are increasingly turning to smartphone applications to assist with their shopping and track down the best deals.
New applications like ShopSavvy permit consumers to scan a product's bar code to compare prices at stores in their area. RedLaser has the capability to scan curved bar codes and will soon show library listings and wine tastings. In addition, Amazon's application uses a "remember" feature that matches photos taken with a mobile phone to products listed online at Amazon.com, according to The Wall Street Journal.
Competition is already running high as retailers look for big dollars during a predicted low-spending Christmas season, and the apps are only pushing retailers to drop prices even lower. Stores such as Best Buy are reducing prices once consumers show a store manager the price comparison on their app. Some stores are less trusting of the apps, however. Wal-Mart demands to see a printed item price listing, not just a picture on an iPhone, and online retailers seem the least likely to budge on their prices.