Best Buy shortens return policy
Best Buy will soon be changing their return policy, cutting the time allowed for returns from 30 days to 15 days, according to The Consumerist1 who has confirmed with one source that the new policy will go into effect on March 3rd, with general managers saying they learned of the upcoming change earlier in the week. Best Buy HQ remains silent on the issue, claiming their policy is not changing.
The company recently extended their price matching policy through March 2nd, and there is ensuing confusion as some news outlets have translated the details of policy to mean the price matching is a permanent policy, while others note it does end in March.
Two retail trends to watch
First, there is a race to price match with the web, with retailers like Best Buy, and even Target getting in on the trend, each extending policies to outdo each other as well as outdo the web. The primary goal of retailers right now is to curtail showrooming wherein consumers go to a retail store, then search the web right then and there to see if that product can be purchased for a better price elsewhere. In response, retailers are price matching major web vendors when a consumer shows customer service that they can get a better price; it’s a massive retention effort.
Additionally, we are hearing murmuring on the ground about quietly changing return policies which used to be 60 days, now down to 30, and with Best Buy’s possible reduction, down to 15, with others sure to follow, regardless of whether or not Best Buy goes through with it. Other retailers have made returns difficult by only offering consumers a check in the mail, regardless of how they paid, and others, particularly discounters, are only offering store credit or exchanges.