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Best Buy To Test Product Rental Program

6/12/2017 09:30:00 AM Eastern

In an effort to stem returns, Best Buy, through a partnership with San Francisco startup Lumoid, will allow customers to try-before-they-buy beginning later this month. The rental pilot will be limited to open-box cameras, drones, audio equipment and fitness trackers, and could cost shoppers anywhere from $50 a week to $50 a day depending on the product's price point. Customers will then have the option to buy the item at a discount, or purchase a new, unused one through Lumoid.

"Over the last few years, the idea of short-term rentals has taken off in industries from lodging to fashion. Now Best Buy is trying to push that same trend into the mainstream for consumer electronics."

Read More at Recode

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