Is Best Buy greedy as heck?

[lordhamster]

I have no issues with paying an extra $100 IF:

• I have an easy-stress free launch day delivery of the model I want.
• I can get the "Sim Free" model that works across all carriers without needing a Verizon or Sprint account.

so long as I know the price up front, I'm a big boy and can decide for myself where to buy.

 

[pl1984]

Lol 😀
I love this saying they're in the business to make money. I guess they think customers are pretty stupid and wont notice that they are ripping them off.
Every other retailer sells it for a certain amount and BestBuy is the only one charging $100 more just because.
Who else was overpriced like that back in the day and went belly up? Circuit City I think.

How is Best Buy ripping off their buyers? The price is clearly stated and, I assume, those deciding to purchase from Best Buy are agreeing to do so. Sounds like a win-win situation.

 

[Applejuiced]

How is Best Buy ripping off their buyers? The price is clearly stated and, I assume, those deciding to purchase from Best Buy are agreeing to do so. Sounds like a win-win situation.

Yes, its definitely a win charging $100 over retail price for something. For Best Buy though, not the customer 😀
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I have no issues with paying an extra $100 IF:

• I have an easy-stress free launch day delivery of the model I want.
• I can get the "Sim Free" model that works across all carriers without needing a Verizon or Sprint account.

so long as I know the price up front, I'm a big boy and can decide for myself where to buy.

You know most people dont actually enjoy paying $100 extra over retail.
Maybe you do but businesses that are overpriced and dont compete end up going down eventually😉 Its the basic rule of capitalism😀

 

[pl1984]

Yes, its definitely a win charging $100 over retail price for something. For Best Buy though, not the customer 😀

I assume it is if the customer agreed to buy the phone for that price. How is it not?

 

[Applejuiced]

I assume it is if the customer agreed to buy the phone for that price. How is it not?

That is true.
But the uproar and negative publicity Best Buy has been getting lately is not a good thing for the brand or their reputation.
So its a choice they made if they want to be labeled and seen as the retailer that's overpriced then they will continue to decline😉

 

[gadgetfreaky]

I agree Best Buy should be able to charge what it wants. Up to customers to decide to pay or not.
However, the idea that the $100 is warranted becuase BBY doesn't make much money on the product is stupid. Best Buy makes almost nothing on ANY of the products it sells. Best Buy makes money in a bunch of ways- but that's not one of the in the case of almost all it's products. Samsung TVs, LG - whatever.

 

[Applejuiced]

I agree Best Buy should be able to charge what it wants. Up to customers to decide to pay or not.
However, the idea that the $100 is warranted becuase BBY doesn't make much money on the product is stupid.

Exactly.
The customer doesnt care if Best buy makes money on a certain item or not or what the retailers profit margin is on each item they purchase.
Oh Im sorry Best Buy, you're not making anything selling that product. Sure, here's $100 extra from me.
I really feel bad you guys are not making enough on this product. Not 😀

 

[pl1984]

That is true.
But the uproar and negative publicity Best Buy has been getting lately is not a good thing for the brand or their reputation.
So its a choice they made if they want to be labeled and seen as the retailer that's overpriced then they will continue to decline😉

They've been doing this for years so it's unlikely they have anything to worry about.

 

[Applejuiced]

They've been doing this for years so it's unlikely they have anything to worry about.

We'll see how it plays out.
Amazon and other retail giants are cutting in their profits so in business you either compete or get left behind and shut your doors. That's the name of the game and its a vicious cycle that repeats😉

 

[protoxx]

I realized what a bad business model they had with it came out a number of years ago that 90%+ of their profit came from the up-sell warranties. How can you sell nearly everything at full retail and not make a good profit?

Circuit City without the divx controversy. It they had been able to hang on a couple of more years maybe both would of disappeared into bankruptcy and dissolution.

 

[pl1984]

We'll see how it plays out.
Amazon and other retail giants are cutting in their profits so in business you either compete or get left behind and shut your doors. That's the name of the game and its a vicious cycle that repeats😉

Apples exorbitant prices don't appear to have hurt their business.

 

[Applejuiced]

Apples exorbitant prices don't appear to have hurt their business.

That's different.
We're talking about selling the same exact item for higher markup price than all other companies sell the same thing for.
If all stores sold an iphone X for $999 and Best buy had it for $1099 what one you'd buy from?

 

[Harmonious Zen]

Look, this is capitalism. Best Buy has been doing this for years. It's just a bad PR move on their part. Their response was hilariously bad. But, it's a smart business move for them. The phone will be tough to get at an Apple store or through a carrier. If they have availability, why not sell it for more. Some people will buy. It's the same reason there's a market for scalpers - because people actually pay exorbitant prices to get an iPhone X early.

 

[Applejuiced]

Look, this is capitalism. Best Buy has been doing this for years. It's just a bad PR move on their part. Their response was hilariously bad. But, it's a smart business move for them. The phone will be tough to get at an Apple store or through a carrier. If they have availability, why not sell it for more. Some people will buy. It's the same reason there's a market for scalpers - because people actually pay exorbitant prices to get an iPhone X early.

True, Best Buy also sells $500 HDMI wires.
If people want to waste their money on it and pay up that's on them but that model in the long run is bad for PR and for the business in general😉

 

[Reno Raines]

Lol 😀
I love this saying they're in the business to make money. I guess they think customers are pretty stupid and wont notice that they are ripping them off.
Every other retailer sells it for a certain amount and BestBuy is the only one charging $100 more just because.
Who else was overpriced like that back in the day and went belly up? Circuit City I think.

I have to say nice things about Best Buy. I did Loss Preveention there back in my college days so they can do no wrong. Circuit City was good until they let all of their staff who were knowledgeable go and replaced them with not so knowledgeable people to save money. My bro in law worked there when it collapsed. Sad to see that happened as that used to be the go to electronics place. Also I am still not happy about how my Falcons keep losing to y’all.