Best Buy: Pricing Report Inaccurate
By Alan Wolf -- TWICE, 2/10/2011
Minneapolis - Best Buy described as "distorted" a Bloomberg News report on the company's internal conversations about product pricing.According to Best Buy spokeswoman Susan Busch, the chain is only exploring an everyday price model, given the growing transparency of retail pricing, and has neither held any discussions with vendors nor plans to.
"Best Buy has not and will not talk about our pricing or flexible pricing strategy," she told TWICE. "How we set the retail selling price of our products is our decision and at our sole discretion."
Busch said the news report was based on a conversation with executive VP/Americas president Michael Vitelli that centered on the way technology has given consumers information they haven't had before. "We discussed how the industry has evolved and what works today vs. what worked years ago. We want to make sure we're communicating about our prices across all SKUs and all channels every day."
Talkback
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Simple logic will tell you that they didn't become the biggest by giving stuff away.
eddie willers - 2011-11-2 11:19:16 EST -
Buy local
Brian Rizzey - 2011-10-2 20:03:36 EST -
What does price fixing have to do with anything? Any company can charge whatever prices the coose for their merchandise. you may be refering to "loss Leaders" hich is perfectly ligitimate.
If your are an educated consumer, and don't get caught up in the impulse type buys, most businesses have great prices on cetain items tht consumers can take advantage of.
The question really is, what is your time worth? You purchase a new dispaly today and the bracket, HDMI cable and universal remote are going to cost more than the display.
Ted DeMatteo - 2011-10-2 18:13:09 EST -
Best Buy has never been a price leader. They advertise a few products, but if you price shop their everyday merchandise mix, they are not the sharpest price. Furthermore, on many accessories and smaller items they are extremely high. It makes you wonder if price fixing is on its way back.
Ben Dover - 2011-10-2 17:43:13 EST
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