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October 5, 2012

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.

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