Best Buy

Summary List Placement

Best Buy announced on Wednesday that it is piloting a new membership program.

The program is called Best Buy Beta and offers customers special discounts, free product installation and delivery, as well as unlimited tech support for $199.99 per year or $179.99 for customers with the company’s store credit card.

The membership program is currently being rolled out to select stores in Iowa, Oklahoma, and Pennsylvania, but will be available in Minnesota, North Carolina, and Tennessee in April. It will encompass about 60 stores within the month.

The program puts Best Buy in direct competition with Amazon Prime, which provides a similar offering for $119 per year and had over 150 million active members last year, according to data from Statista. 

Amazon and Best Buy have long competed for customers, and a recent report suggests Amazon has examined further offerings that could threaten Best Buy’s brick-and-mortar operations.

Last week, Bloomberg reported that Amazon had looked into creating its own brick and mortar discount stores for electronics and home goods. That same day, Best Buy’s stock dipped lower. Just last month, the retailer announced it was laying off 5,000 employees and planning to close more stores. 

While Best Buy …read more


Source:: Businessinsider – Tech

      

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