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Best Buy Moves Closer To Eliminating Mail-In Rebates

1/24/2006 02:37:00 PM Eastern

Minneapolis — Best Buy has moved two steps closer to fulfilling its pledge of eliminating all mail-in rebates from its portfolio by April 2007.

Effective this month, customers began receiving instant savings on notebook computers in lieu of submitting rebate forms through the mail, and the instant savings offer will be extended to most computer accessories by the first week of February. Both efforts “are a result of strong vendor partnerships and the commitment of Best Buy to keep customers first,” the company said.

The retailer has also introduced an online rebate submission process that enables customers to submit select Best Buy rebates online at www.bestbuy.com/rebates. Most rebate checks will be mailed within seven days after submission, the company said.

“Best Buy is taking a leadership position within the retail industry with our plans to eliminate mail-in rebates,” said Ron Boire, Best Buy’s executive vice president and global merchandise manager. “Our customers told us they hate mail-in rebate programs. As a result, we’re working as a company and partnering with our vendors to find new solutions to give our customers a better shopping experience, while remaining competitive on pricing.”

Best Buy announced in April 2005 that it intended to eliminate mail-in rebates from its portfolio within two years in an effort to improve customers’ experience. The announcement also followed a warning from the Federal Trade Commission (FTC) in March 2005 that retailers will be held accountable for all rebates they advertise, including those sponsored by vendors. The edict came after the FTC ordered CompUSA to make good on hundreds of thousands of dollars in unpaid rebate claims.