Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Best Buy tells Amazon: Take that!
CNN ^ | November 20, 2014: 9:48 AM ET | Jesse Solomon

Posted on 11/20/2014 7:46:16 AM PST by BenLurkin

Best Buy's results are particularly poignant for a company that has fallen victim in recent years to the so-called "showroom effect," in which customers visit stores to check out products in-person, and then go home and buy online somewhere else like Amazon.

Shares of Best Buy jumped 8% in morning trading. The stock took a beating early in the year as investors soured on its turnaround plans, but its since clawed back dramatically, and is now only a few percentage points away from breaking even.

Compare that to Amazon's stock, which has fallen almost 20% this year as quarterly losses mount and investors grow increasingly anxious that the company's big investments in such things as its Fire Phone aren't paying off.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy
KEYWORDS:
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-82 next last
To: usconservative

So if Best Buy matched the price for the same item as Amazon, and sales tax was equal, what was the cost difference due to? Warranty Program? Something else?

_______________________________________

Mileage, time, gas, convenience.

Last week I needed a toner cartridge and a new wireless mouse. Even though there is a Best Buy not 5 miles from my house, why would I want to spend an hour getting there, finding the stuff, buying it, and going back home. And spend maybe a buck or two in gas. Yes, if you are already at BB (showroom shopping) and the price is matched - then yeah. Go ahead and buy it.


61 posted on 11/20/2014 10:12:11 AM PST by Responsibility2nd (NO LIBS. This Means Liberals and (L)libertarians! Same Thing. NO LIBS!!)
[ Post Reply | Private Reply | To 59 | View Replies]

To: usconservative

Zero, I don’t buy warranties.


62 posted on 11/20/2014 10:12:57 AM PST by dangerdoc ((this space for rent))
[ Post Reply | Private Reply | To 59 | View Replies]

To: dangerdoc

Someone tries to sell me a warranty, my first thought is, “So you think this product is going to break then, right?”


63 posted on 11/20/2014 10:13:47 AM PST by dfwgator
[ Post Reply | Private Reply | To 62 | View Replies]

To: The_Balvenie

I prefer looking at something before I buy it. Generally I’ll pick something up at a store.

That being said, I hate crowds so I tend to do my Christmas shopping on line.


64 posted on 11/20/2014 10:15:23 AM PST by dangerdoc ((this space for rent))
[ Post Reply | Private Reply | To 60 | View Replies]

To: Mastador1
Last two times I've tried to get something at Best Buy (because it is relatively close to where I live), their selection sucked horribly, and what they did have was way overpriced. I ended up going to Frys. Got just what I wanted, and didn't overpay for it.
65 posted on 11/20/2014 10:35:40 AM PST by zeugma (The act of observing disturbs the observed.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: zeugma

Yeah Fry’s is pretty good on their deals in store and online and I love their loss leaders.


66 posted on 11/20/2014 10:42:39 AM PST by Mastador1 (I'll take a bad dog over a good politician any day!)
[ Post Reply | Private Reply | To 65 | View Replies]

To: Above My Pay Grade

I do the same thing- just yesterday I shopped online for snowblowers and found one i liked- then went to the store to buy it


67 posted on 11/20/2014 10:43:45 AM PST by Mr. K (Palin/Cruz 2016)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Responsibility2nd
Mileage, time, gas, convenience.

All reasons I buy as much as I can online (in addition to not paying the sales tax.)

If you're looking to avoid those costs, online's the way to go.

68 posted on 11/20/2014 10:44:25 AM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 61 | View Replies]

To: catnipman

I would have written to BestBuy corporate about that


69 posted on 11/20/2014 10:45:14 AM PST by Mr. K (Palin/Cruz 2016)
[ Post Reply | Private Reply | To 10 | View Replies]

To: dangerdoc
Zero, I don’t buy warranties.

So there was zero price difference at the end of the day and you still wouldn't buy from Best Buy? Do I understand you correctly?

70 posted on 11/20/2014 10:45:36 AM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 62 | View Replies]

To: BenLurkin

Wal-Mart recently got burned by advertising they would price match Amazon. Clever “customers” quickly setup fake Amazon seller pages and were walking out of Wal-Marts with Playstations they got for less than a hundred dollars.


71 posted on 11/20/2014 10:49:05 AM PST by IamConservative (If fighting fire with fire is a good idea, why do the pros use water?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: KarlInOhio

This isn’t just Best Buy, this is all stores, try the same thing at walmart...

Hey Mr WalMart employee, you are selling this exact computer online at walmart.com for this price, will you sell it to me for this price? Answer is always no! But I can order it online and have it shipped to the store for that price. Makes zero sense, but that’s how they all operate.


72 posted on 11/20/2014 11:00:45 AM PST by HamiltonJay
[ Post Reply | Private Reply | To 23 | View Replies]

To: usconservative

You can’t blame BB for having to collect sales tax, they don’t get to keep it, it goes the state, and they have to collect it by law.

You know what else? That purchase on Amazon, you are bragging about not paying tax on, you are in most cases SUPPOSED to self report at the end of the year when you file and send in the sales tax... So that’s apples and oranges.

As to the extended warranty you choose whether or not to buy that, so again, that’s an unfair comparison.

Not defending BB here, but seriously, expecting you are can get them to eat the tax and give you an extended warranty for the same price you saw advertised on amazon for the item is silly.


73 posted on 11/20/2014 11:04:24 AM PST by HamiltonJay
[ Post Reply | Private Reply | To 40 | View Replies]

To: usconservative

I didn’t say. I prefer to buy at physical stores and will usually buy locally even if it is a little more expensive, except between Thanksgiving and New Years, then I shop online.


74 posted on 11/20/2014 11:10:23 AM PST by dangerdoc ((this space for rent))
[ Post Reply | Private Reply | To 70 | View Replies]

To: j. earl carter

Amazon does not take or want your checking account number. You may be thinking of PayPal; Amazon doesn’t take PayPal either.


75 posted on 11/20/2014 11:10:35 AM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: HamiltonJay
Not defending BB here, but seriously, expecting you are can get them to eat the tax and give you an extended warranty for the same price you saw advertised on amazon for the item is silly.

If you bothered to take the time to read and comprehend what I wrote, I was the one who made that exact point. Including the fact that sales tax was out of their control and not a negotiation point.

In the future please read more carefully. Thank you.

76 posted on 11/20/2014 11:14:40 AM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 73 | View Replies]

To: ilgipper

This is because they’re desperate for customers after ruining Christmas 2011 for many, many people.

http://techcrunch.com/2011/12/23/how-best-buy-stole-christmas/

This is on top of their ongoing practice of faking their website on their in-store kiosks so they don’t have to match the actual online prices of others, a practice they have had for most of the past decade: http://www.latimes.com/business/la-fi-lazarus23dec23-column.html

Plenty more documented reasons Best Buy sucks and needs to either shape up or go away. Many people call them Worst Buy.


77 posted on 11/20/2014 11:21:52 AM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: ilgipper

Evidence that two years later, people were still pissed at Worst Buy: http://www.slate.com/blogs/moneybox/2014/01/16/best_buy_q4_disaster_share_prices_taking_a_well_deserved_dive.html


78 posted on 11/20/2014 11:26:03 AM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: BenLurkin
Went to BB last week because I needed an item immediately that they had on the floor. Had to break up the high school clerks having a grab ass session and then the punk that helped me was surly at best. I hate BB.
79 posted on 11/20/2014 11:27:41 AM PST by mad_as_he$$
[ Post Reply | Private Reply | To 1 | View Replies]

To: who_would_fardels_bear
The management of Circuit City decided to try and increase profits by lowering their salespeople's salary and training.

I worked at both. CC was a commission sales job. So, to get good sales, you had to know your stuff. Then they became BB with just a straight hourly pay rate. Product knowledge was terribly high on the priority list. Oh, sure, BB pushed it--kind of--but the motivation really wasn't there. Then, CC, went hourly for its sales folks, and the experienced people left en mass. There were people who worked sales on the floor for decades. They could support their families on what they made in sales.

Going hourly probably buried CC quicker than anything else.

80 posted on 11/20/2014 11:44:34 AM PST by Future Snake Eater (CrossFit.com)
[ Post Reply | Private Reply | To 12 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-82 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson