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Consumer Reports Senior Projects Editor Tod Marks on the price matching strategy instituted at Best Buy.
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Heads up consumers retailers are catching on to you and your show roaming.
That's when you scope out their merchandise and store only to use your Smartphone to purchase that same item elsewhere.
-- for a better deal best by announcing a permanent price matching policy get you to buy their products from them.
But our next guest says make sure to read the fine print Tod marks senior projects editor for consumer reports joins me now -- always great to have you on the show thanks for coming by appreciate -- my pleasure hearing.
I don't tell us about the well it's a radical policy is.
-- price match goes and he chose either you know they're really on the cutting edge sure they're taken a big risk -- -- is -- risk.
Because while most price matching policies.
You don't seem above board they're very limited in general big company promises to match the price of -- local competitor.
And we've just seen a flyer what you can usually match the price of an online competitor in whereas we all know in this great day -- age.
Most of the great deals to be had ten to occur on line.
But Best Buy is taking a risk.
And they're -- were not only gonna match -- -- you get from a local store we're gonna match the prices of nineteen world class retailers.
Everybody from Wal-Mart.
And -- on Dell Fries hhgregg.
-- -- -- -- -- Time there are limits to this though I mean it's all not sunshine and flowers for consumers.
For example there is a limit to one price match her -- -- don't -- well but.
That's no big deal hum how many identical TVs you gonna buy any given time yet you wanna -- to you can't use that one Christ like but.
If you wanna buy a -- if you wanna buy -- TV if you wanna -- a cell phone if you wanna buy.
A food processor you could -- each one of those things using an individual.
Price match guarantee that you find yeah.
Here's something that's fine -- my friend here's some more of -- fine print.
Our sales events.
Are excluded credit card offers excluded online clearances excluded so let's not absolutely everything on the show now now but look look at they're gonna sell clear it is usually get a good deal but -- It doesn't cover cell phones it doesn't cover cell phone plans it doesn't cover -- price match for items sold.
By marketplace emergence like Amazon marketplace divergence -- -- sold Amazon but he sold by a.
Third party yet all the big guys do Wal-Mart does it and it doesn't cover special order theater so -- there's fine print.
But -- -- price matching policies -- I would pay very close attention is because it looks pretty darn good and the consumer has very little to lose.
Are well you know -- did surprise me.
A look I thought everybody did show -- but apparent camera on it says only 6% of customers -- in store items for better deals elsewhere.
And this is from a source called vibes of mobile marketing firm do you think -- number is actually higher.
Well I think it's kinda hard to tell you should look -- too many people start taking advantage of this offer this price match.
Best -- and any other company that gets involved this could be in big trouble because these companies operate on razor thin profit margins -- cut -- business.
-- court to heck I want mortar run stores hire people and do this sort of thing bid to run their online distribution center.
So you know the percentage is that generally take advantage of this are quite lull.
But it gets a lot of publicity after all look what we're talking about.
Well and you know I've got to tell you we had a full screen on this I just gonna share.
Amazon beads bricks and mortar prices Best -- 16%.
Higher than Amazon target 14% higher Wal-Mart 19% higher.
People -- -- what -- -- gone online but we you're right I think you got it right on the money here Todd we're gonna have to pay attention to Best Buy now.
The kids are gonna be in the running.
I have done about it wouldn't Todd thanks for coming on today it's always good to see you my pleasure as always Jerry.
