If you were wanting a cheaper price, why didn't you wait for it to come on special, as these types of stores always have sales every so often. Some stores do have a change of mind policy, in fact quite a few bed ones do because sometimes people find the bed maybe uncomfortable after sleeping on it, as you can't sleep on it instore. I would personally only buy a bed from a store with that policy. But there is no requirements under law, and as others have said, it has nothing to do with the cga if the price changes. But some stores may refund the difference in good faith, but they aren't required to.
rayonline: Supercheap auto club member allows this but if you are not a card member you don't get. LV Martins does it too I think.
I like the Supercheap system. It does work as "loyalty" program - while they don't have the range and/or quality of specialist tools etc, for everyday stuff they are a good retailer IMO. I also got surprised by Placemakers recently. Their loyalty card gives only 10%. At most of these hardware shops the retail assistants can't haggle price. I gave it a try at Placemakers, and much to my surprise they dropped an item from $570 to $430 - then I still got 10% - so quite competitive with prices on the net for the same item. NZ retailers need to wake up. Over the last 12 months or so, I guess I've spent about $7,000 importing items, musical instruments, tools, appliances. Even with air freight and GST paid, I've saved a bundle. While warranty is problematical and CGA cover obviously nil, I don't think that justifies a typical 75-100% premium to buy locally.
Re: Placemakers. We were only buying 1 item. The dulux 10L paint was about 10% more than Bunnings. So hey ... But the 10% itself is very generous for the loyalty club itself. I mean most places give 1% only ie - credit cards, Flybuys is about 0.66%. Ie - spend $25 for each point and how much you have to convert to $25 AirNZ Dollar.
I was in a similar position earlier in the month when I bought some whiteware from Harvey Normans. I bought them on Monday on a 50 months finance deal, and agreed to pick up the items from their warehouse on Friday. Friday morning rolled around and they started a deal which dropped the prices on both items by around $350 total. I checked out Consumer.org.nz and found this:
Strictly speaking, they probably don't have to refund the difference, but because I hadn't received the goods yet (and they hadn't actually provided a copy of the credit contract - not any documentation that meets Consumer's definition anyway), I was entitled to cancel the credit contract. I went in store armed with a two step plan: first, I would ask nicely if they would honour the new, lower price. Second, if they didn't, then I would point out that I was entitled to cancel the contract, and then would re-buy at the new lower price. As it happened, they were more than happy to honour the new price, and everyone was happy. I didn't even have to bring out the Consumer advice.
This might not happen in your case, though if they haven't delivered yet you could ask to cancel your purchase and buy at the lower price. I don't know whether they would give you a refund or not, though. Because my situation involved a hire purchase, I had the added protection of being able to cancel up to three days from receiving the credit contract. But as others have said, the best policy is always to ask politely - if they are a good business, they will probably recognise the value of a happy customer, rather than a begrudging one. Harvey Norman's have benefitted from my telling plenty of people about how accomodating they are.
It also comes down to whether the drop in price is worth it. In my case, it was worth about 20% of the original price, so it was definitely worth it.