Best Buy To Test Product Rental Program - Twice

Best Buy To Test Product Rental Program

"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."
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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."

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