Best Buy Matches Prices With Online Competitors
Online shopping has gained a lot of popularity—it has been fuelled by the rapid technology development that allows shoppers to buy items in the comfort of their homes or offices.
Most traditional brick and mortar stores have lost a huge chunk of the market share as many people opt to buy items online.
Best Buy has decided to tackle this onslaught by online stores through launching an aggressive marketing campaign.
This marketing strategy involves matching the prices of electronics with those of online stores, especially Amazon.com, reports CNET.
The matching of consumer electronics and appliances with other competitors’ online prices was authorized in all Best Buy stores. According to Amy von Walter, the company’s spokesperson, these lower prices will be matched discreetly by the Best Buy staff.
This campaign targets holiday shoppers and will be valid for a period of time. Apart from price matching, Best Buy will also provide free shipping for any products that customers seek from the store, but they are out of stock.
According to Investors.com, this strategy aims at fighting the showrooming trend whereby customers visit the physical store, but leave without purchasing any item. They only checkout the product in the store and later on purchase it online at a lower price. Best Buy hopes this aggressive strategy will improve its bottom line after it posted lower profits compared to last year.