Add Product

Search Results:

    By submitting an idea to IdeaX, you agree to our Terms & Conditions.    

Elite/Elite Plus Open Box/Clearance Blowout Night

Status: Tell Us More
by on ‎02-14-2014 02:16 AM

Hello,

 

I noticed, checking the open box inventory online for local area stores, there are a TON of open items on hand in the area.  Why not create value and have an Elite/Elite Plus My Best Buy event focused on ridding stores of open items.  You could generate coupons offering an additional discount of 10%, 15% and 20% off based on product category (i.e. on tablets, since they're lower cost 10% and maybe move computers under $999 to 15% and over $999 to 20%, etc.).  Or TVs based on size for instance.  You could also offer bonus poins on clearance items versus marking them down, since they are not opened - i.e. Up to 5X the points depending on how end-of-life items are based on performance code. 

 

In hind site this creates a mutually-beneficial relationship for both Best Buy and its customers.  For Best Buy, you rid yourselves of an ever-growing amound of open items.  For customers you're creating more value and awareness around the My Best Buy program and because it's customers that are already spending more in your stores so you know they'll buy in volume, effectively reducing inventory, and you know there's a really good chance they'll buy protection plans so you'll recoupe some of the margins on items too.  

 

Just a suggestion.

Status: Tell Us More
There's has been other ideas over the years around how to move more open-box product out our doors, and this idea sounds decent to me. In the end I guess it will come down to whether any losses on these sales are made up somewhere else. Any other thoughts on this idea? Remember to vote for an idea if you like it.
Comments
by
on ‎02-14-2014 12:02 PM
OP is 100% on target do this 1 weekend every 2 months based on volume on hand. You can either discount the items by %`s off & make up the difference plus profit with warranties or add the 5X rz booster across the board. The 5X rz point booster really pay off as you ensure at least 2 purchase trips, the warranties also earn rz points so people maybe more willing to commit to them & you don`t have to offer as much of a discount on the items.

http://www.forums.bestbuy.com/t5/Best-Buy-IdeaX/Increase-2X-3X-bonuses-promos-to-5X-due-to-the-elite... And lets get the 5X rz pts boosters coming in general

by
on ‎02-15-2014 12:54 AM

Don't think it would be a bad idea.  It could definitely be a very positive thing to help stores with a very heavy open-box inventory clear out stuff in a timely manner.  However, it could also be a bad thing depending on how often you wanted to do it.  Every 2 months would encourage people not to look for it whenever they go into the stores and instead just wait.  Also, you'd likely run into people buying and returning just to repurchase at an open item price. 

 

In January, we had the Open Item/Clearance event which really helped move through a lot of stuff.  The company already runs periodic sales on open items for different departments throughout the year.  I know the $50 off open box appliances is still going on if you take the product home with you that day. 

 

Could definitely work well for some stores.  My associates tend to push out open box products as fast as they come in, though.  Wouldn't be much for the customers in our area to get out of it :/

by
on ‎02-15-2014 12:58 AM

Viewing your store's open item selection (#663), you are currently sitting on 134 open box items. This is plus and minus some due to newer items sold and newer items returned but generally in the right ballpark.  

by
on ‎02-15-2014 09:37 AM
@Dval Really good open box deals won`t last a person would be taking a risk trying to return/rebuy considering that another customer or employee could get it before them. I only said every 2 months as a baseline that way there`s never an overwhelming amount of stock on hand. Also, there`s customers who love "the chase" of a deal so they`d consistantly provide steady foot traffic. Hopefully, they`d generate a quality # of warranties, accessory add on, impulse purchases during these trips. Word of mouth would do wonders too stores that have good stock will be targeted daily even when the promos aren`t in effect just to see if there`s deals & other stores that may not have as a good of selection will see foot traffic from people checking them out.
by Senior Social Media Specialist Senior Social Media Specialist
on ‎02-17-2014 11:06 AM
Status changed to: Tell Us More
There's has been other ideas over the years around how to move more open-box product out our doors, and this idea sounds decent to me. In the end I guess it will come down to whether any losses on these sales are made up somewhere else. Any other thoughts on this idea? Remember to vote for an idea if you like it.
Join the Community
Join the community and enjoy all the benefits! You may be our next expert!
Join Sign In
Announcements
Welcome to our Best Buy Community Forums. Please review floated posts and solutions posted, as this may assist you in answering your concerns. For more immediate assistance, please contact us at (888) 237-8289. We do not have any information as to when more PS5 or Xbox Series X/S consoles will be available.
Top Kudoed Authors
Labels