Best Buy Comes Up With Genius Idea To Compete With Amazon: Lower Online Prices

Hey, consumers. Best Buy knows what you’re up to. Yup, it knows you’re out there on the sneaky ol’ Internet, comparing prices and trying to find  the best deal. And now that the company is hip to your tactics, it’s come up with a potential plan to make sure you buy online with Best Buy and not say, Amazon. How’s it gonna do that? By reducing prices. Consider your mind blown.

Well, it might do that, said Stephen Gillett, the president of digital, global marketing and strategy. See, it usually prices its items depending on what’s selling online and in the stores, as well as how the competition is selling those products. He said they could possibly reduce prices to “to make sure that we are competitive across those categories,” according to Bloomberg News.

In addition, Best Buy’s new e-commerce chief Scott Durchslag says offering competitive prices is “just the price to play,” because consumers are savvy and know how to navigate the Internet via various devices and compare prices.

Apparently we as consumers “are trying to reach a general conclusion that they are not having to pay more than they need to,” Durchslag said. Nuh uh! The revelations keep on coming.

These guys have really caught on to the fact that we won’t pay a more expensive price if we can get it cheaper elsewhere. We look forward to seeing if Best Buy actually goes ahead with said price reductions as the holiday season heats up the competition in the electronics market.

Best Buy May Reduce Online Prices to Compete With Amazon [Bloomberg News]