The ‘showrooming’ trend is a serious threat for the physical retail outlets. Since it is established that the price of the products is one of the key factors that have a greater impact on the purchasing behavior of the consumers, the top online marketplaces are spelling out new innovative strategies to hook more customers. Best Buy has come up with a great business proposition and it has declared that it will offer low price guarantee on the vast array of its in-stock products. The prices that the consumers will get at Best Buy will match with the other local retailers and even with the top 19 retailers that are going great guns in the online market zone.
This new strategy is definitely a great answer to the concept of showrooming, which is eating up the business juice of the retailers with physical stores. The interested customers are very choosy in terms of investing their money while buying products. They want to enjoy the best deals, the exciting offers, so that shopping online gives them a higher level of satisfaction. For checking out the wide variety of products, to strike up a conversation with the sales stuffs, the potential buyers frequent the physical retail outlet, but they seal the business transaction online by availing the best offers.
Best Buy taking up the Challenge
It is the impulse of the customers at the time of buying which ultimately enable them to make or break an online transaction. The ability to match the pre-tax prices of the in-stock products from a local competitive store and the other online retailers is a great weapon in the hands of the customers. This is definitely one of the best efforts that Best Buy has adopted to hold on to its customer base and add new ones to let its business grow. However, the experts in the field opine that such a move or the matching of web prices of the products to that of the local retailers and e-retailers cannot really put an end to ‘showrooming’. Consumers who are busy in tightening up their financial belt will make a much thorough probing when weighing the prices of the products that they want to buy.
The Holiday Shopping Season offered the Signal
There is a mad rush among the interested buyers to buy their choicest products during the holiday shopping season. Best Buy engaged in the test mode in the fourth quarter of 2012, starting from October 24 and it continued till the fag end of December. In this test mode, Best Buy found out how lowering down the prices to maintain parity with the other local stores and e-sellers helped it observe surging sales figures. The big players in the field like Amazon, Apple, Sears, Target and the like reflected the same real-time price as Best Buy did in its retail store. BestBuy.com and its physical store also held up the same price chart.
Enhancing the Customer Care Experience
Improved customer service is what Best Buy is banking on to fight against showrooming. By reshuffling its team and adding new personnel, this credible marketplace is aiming to reach out to the people in a greater way and offer enhanced customer service. Remaining competitive at the price that Best Buy offers coupled with its excellent customer service, can make it to defy the challenge posed by “showrooming” to a great extent.