By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Minneapolis – Best Buy will for the first time extend its price-match policy to online competitors this holiday season, the Wall Street Journal reported.
The No. 1 CE chain will also offer free home delivery on items that are out of stock at local stores.
The moves are designed to blunt showrooming in Best Buy’s stores, an unnamed source told the newspaper, and show a willingness for the company to hold or recapture market share at the risk of lower profits.
Aiding Best Buy in its aggressive stance are vendors’ new and re-enforced UPP and online MAP policies, which have successfully leveled pricing across all distribution channels on a growing pool of products.
Best Buy’s strategic pricing decision is a seeming reversal of earlier statements by recently appointed CEO Hubert Joly and newly named e-commerce chief Scott Durchslag that downplayed the showrooming phenomena.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.