Best Buy pricing on products across the store have now dropped to the point they are similar to Amazon’s, David Magee Suntrust Managing Director told CNBC Monday.
He’s been price shopping the chain for years, but his recent trip marked the first time Best Buy pricing dipped to Amazon levels in all product areas.
“It removes another obstacle for customers for shopping again at Best Buy,” said Magee.
He added, “By improving the service in their stores, upgrading the web site and with their loyalty program, they’ve really become a very compelling place for consumer electronics.”
And Best Buy has the advantage that consumer electronics are the types of products that people like to try out in a store, he added
You can listen to the interview here.
Brands realized they have a role to play in keeping retailers Alive and it’s based on the premise that they have to first attract and retain a customer. How complex of an idea, someone doesn’t want to pay MAP when a brand through distributor ir dealer (ironically) or directly sold by Amazon is sold for half the price. Rocket science was applied in great detail here.
Finally making manufacturers accountable for their actions. You let scum have access to your products and race to Zero, then you should let a place that provides service be able to try to stay afloat. Never ceases to amaze me the ridiculous nature of a brand trying to force unequal playing field for retailers vs amazon.
stack it high. sell it cheap.