The article explores how retailers can make better pricing and inventory decisions when dealing with uncertain demand and strategic shoppers. By offering price protection, where customers get refunds if prices drop, retailers can attract more buyers during regular periods and increase profits while reducing inventory risks. Full price protection is found to be the most profitable strategy compared to price commitment. However, suppliers may see a decrease in profits due to price protection policies. This research offers new insights for retailers, especially online ones, on whether to implement price protection to address strategic consumer behavior.