“If you can’t beat them, join them” seems to be the new mantra at Best Buy if a report that the retailer is set to price match online competitors is to be believed.
Best Buy has been fighting slipping into a role known as “showrooming” for some time now. This is the act where consumers come into the store to look at a product in person, and then go and order it online as it’s cheaper. It is currently estimated that only 40 percent of the consumers who walk into a Best Buy actually walk out with a product, but the struggling company may have a way to combat that this holiday season.
Speaking “to a person familiar with the matter,” the Wall Street Journal is reporting that Best Buy is going to offer price matching for online retailers in an effort to increase its sell-through rate. Apparently the details of this plan are still being worked out, and there may be restrictions on what products it applies to, but it could be the best hope for the struggling company that is currently being examined for a buyout.
No word as of yet as to when this policy would kick in should it be approved, but our suspicions would be around Black Friday, Nov. 23.
[via the Wall Street Journal]