Best Buy’s Trade-In Plans: “Why Let eBay Have All The Fun?”
Written by Evan SchumanMarch 4th, 2010
With the economy putting intense pressure on supplier costs—while also making lower cost merchandise highly attractive—Best Buy is quietly making a push into the secondary market, a strategy that is opening huge possibilities in its CRM analytics. Suddenly, a sold product starts the clock on when it can be profitably bought back.
"The product now doesn't disappear from your mind after it’s sold. It actually just begins a different lifecycle," said Larissa Hall, the Best Buy general manager in charge of the consumer end of Best Buy's new venture. "Why let eBay have all the fun? You don’t throw away a car when you're done with it. Even a broken DVD player is worth something."
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8 Comments | Read Best Buy’s Trade-In Plans: “Why Let eBay Have All The Fun?”
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Our Comment SPAM system is getting very aggressive these days and has been blocking legitimate comments. If you post a comment and don't see it appear within 2 hours or so, can you please send a heads-up to customer-service@storefrontbacktalk.com? Ideally, please include the time you posted the comment. That will allow us to try and hunt for it. Thanks! P.S. We're working on fixing the system, but we don't want to lose any valuable comments in the meantime.
-Christine
March 4th, 2010 at 2:33 pm
When will it start? I have a load of DVD players, and even some VHS’s that are in good shape, but unused!
March 4th, 2010 at 3:36 pm
Hi Robert – today you can use the online tool for products bought at other retailers, or walk into Best Buy to trade in products bought at Best Buy.
Details are here:
https://www.bestbuytradein.com/bb/
We will let people know when the full circle solution is in place. Thanks!
@lihall
March 4th, 2010 at 4:44 pm
Brilliant idea. Win for Best Buy. Win for consumers. I predict a dramatic increase in synchronous & asynchronous Best Buy satisfaction web chatter. Congratulations on rethinking the old wheel.
March 5th, 2010 at 12:48 pm
Someone is either uninformed or does not understand how eBay works.
“There’s also something unnerving about sending possessions out in the mail and then hoping that a check will somehow get back to you weeks later. There’s a level of trust in the system that not everyone has.”
Uh, no.
Just like Best Buy’s online sales, bidders and buyers pay first.
And you receive cash or its equivalent vs. BB’s store credit.
I’ll take the cash, thank you.
March 5th, 2010 at 11:29 pm
This is an excellent idea! I already love shopping at Best Buy. Now I can get rid of junk and buy much wanted electonics to replace that supposed “void.”
March 9th, 2010 at 10:49 pm
I agree with Brenda. Why would I want to take my old junk stuff into a Best Buy store and then only get store credit. If I’m trying to get rid of it I am going to be looking for the cash. I am willing to bet that the amount that they will give you in store credit isn’t anywhere near what you could get on ebay or craigslist. Now if they ever decide to give cold hard cash for my junk will someone please let me be the first to know.
March 10th, 2010 at 7:45 pm
First of all why would a store not give you store credit instead of cash… business decision wise that would be a poor one.
Secondly you’re probably more apt to get more money back if you receive it in store credit than if you were to receive it in cash because they (Best Buy) want you to BUY expensive items from their store to replace your old ones.
March 17th, 2010 at 12:47 pm
Actually it looks like you can receive cash for your trade-in. I just received a quote on my old 1st gen xbox and can choose either $26 on a giftcard or $17 through a mailcheck.