In Effort To Survive, Best Buy Will Start Price Matching Online Retailers Like Amazon

Photo credit: Best Buy

It’s no secret that big box stores like Best Buy are struggling to adapt to a world where consumers can easily order pretty much anything online. The consumer electronics giant has become little more than a showroom for many shoppers–they stop by to look at and touch a product in person, then they go home to order it on Amazon.

Best Buy already matches the prices of its brick-and-mortar competitors, but it looks like the chain is ready to take the next big step in an effort to remain relevant. The Wall Street Journal reports that Best Buy will soon begin price matching its online competitors.

Expect the new pricing to go into effect in time for the holiday shopping season.

Expect Best Buy to maintain a list of restrictions and limits. Obviously, it won’t match the price of your crappy Blogspot site that claims to sell MacBooks for $79. The goal of this initiative is to make Best Buy competitive with e-commerce leaders, like Amazon, and it’s quite possible that Best Buy will restrict its online price matching to items sold directly by Amazon and not any of Amazon’s smaller affiliates (which sometimes offer extremely low prices on stock they need to clear out).

Best Buy reps have disputed recent claims that as many as 40 percent of shoppers in the store are only there to look at products and plan to make any subsequent purchase online, but they have admitted that the figure could be as high as 15 percent. Either way, the store needs to adapt quickly or it will soon go the way of Blockbuster and other retail giants that failed to make the transition to the digital age of shopping.

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