By Zanub Saeed
Best Buy and Future Shop stores in Canada announced that they have set up an online initiative where they will guarantee the lowest prices compared to any other online or in-store retailer, and beat the lowest prices online by 10 percent of the difference, to get more sales.
As a way to change and update their price match and return policies, Best Buy Canada and Future Shop set up the new system as a way to respond to the changing nature of retail in the North American nation to strive for the best customer service, said a press release issued by Best Buy Canada on Monday.
"We're going to beat any price in-store or online for any Canadian Competitor," Mike Pratt, president and COO, Best Buy Canada, was quoted as stating for the press release. "Showrooming is a completely price-based concept - it's about the perception of getting a lower price somewhere. We see our Price Beat Promise as rendering showrooming obsolete."
The new initiative will be called Price Beat Promise, and will guarantee the 10 percent added discount if a consumer alerts Best Buy and Future Shop of a product price that is lower than theirs. Once the chains have been notified, they will beat whatever competitor had the lowest price of whatever item it may be, including electronics and televisions, and add the additional 10 percent discount, up to 30 days, noted the press release.
The Price Beat Promise was also part of a marketing strategy to cater to the online market, which has increased significantly in years - around eight out of 10 Canadians have been found doing their shopping online, said the press release.
Best Buy and Future Shop products can also be purchased through their mobile apps, like the Apple iTunes App, and Google Play for Androids.
