Best Buy May Cut Prices Online

Planning out your Black Friday yet? It's a safe bet Best Buy is, and they know you're looking at Amazon.

Best Buy May Cut Prices Online Photo (cc) by osde8info

According to Bloomberg, Best Buy might try harder to compete with Amazon this holiday season.

Best Buy sets prices for televisions, tablet computers and smartphones based upon “what is selling online, what is selling in the store, what is selling with the competition,” Stephen Gillett, president of digital, global marketing and strategy, said today in an interview. The retailer may reduce prices “to make sure that we are competitive across those categories.”

Yesterday the company hired “a new e-commerce chief, former Expedia Inc. President Scott Durchslag,” who agreed the company needed to be more competitive online. We’ll have to wait and see if this is just talk, but we know they’ve been hurt and frustrated by showrooming, where consumers test-drive products in-store and then go online and buy them from a cheaper competitor.

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