We had a long conversation about price matching our ecommerce site today. It was discussed that we don't need to do this and others said, yes we do.

Are there any documented studies of this and why it should or should not be done?

Thanks for any help or information.

For products only few retailers carry, you can go away setting the prices little higher. Other then that for common products you would loose customers if you set prices higher. So yes, its always good idea doing research how others are pricing the products.

I'm talking about adding a price guarantee to the website. Stating we will match or beat anyones best price.

Thoughts about doing this? There could be items we would lose money on.
Thanks for any advice

I wouldn't do it. There are too many freelancers or hacks who would quote $400 for an Amazon or eBay clone, even though they wouldn't be able to deliver anything close to it that's of quality. Who would you be willing to price match?

I wouldn't do it either.. It's far too easy to take advantage of someone making that offer..

With the internet being global little things like labor and overhead play a huge role in pricing.. Even just boxing a product and shipping it could make a difference in price..

Set your prices where they need to be for you to make as much money as you can and still sell enough product to stay in business..