Online Shopping Case Study - 1471 Words

Introduction: The evolution of technology and the internet has brought tremendous change to all facets of daily life. One area where this change is overwhelmingly evident is retail. Where once consumers had to physically go to a store in order to purchase goods and had a limited view of competitors, consumers are now able to shop from anywhere on their mobile devices, and access competing prices with ease. This was great for consumers and online retailers, but for brick-and-mortar businesses like Best Buy, this posed a significant challenge. Brick-and-mortar retailers were tasked with the challenge to adapt and overcome the competition posed by the online retail market, or risk being left in the past. Analysis: The global online†¦show more content†¦It attempted to block customers from using price-matching apps to scan barcodes by implementing their own exclusive in-store barcodes. Best Buy also created their own shopping app and partnered with third-party apps to cater to the mobile demand, and produced exclusive in-store products. However, these actions failed to prevent customers from showrooming, which forced Best Buy to implement a price-matching policy to combat the low online prices. The price-matching policy adopted by Best Buy is a risky bet, with the potential for positive and negative effects. On the positive side, permanent price-matching boosts Best Buy’s image as a trustworthy and reputable brand. A successful brand is a promise fulfilled (Diane, â€Å"Brand Power†) and with this policy, Best Buy is doing just that. By promising customers the ability to price match from reputable online retailers, it shows consumers that they are transparent, a nd are out to give consumers the best deal. Another pro of price-matching is that it gives consumers the best of both online and physical retail. Permanent price matching gives consumers the ability to test out products in store, and not miss out on better online prices. These pros enhance business-consumer relations, but have a negative impact solely on the side of Best Buy. One negative is that a lower sell price will result in lower profits if there is no increase in sales as a result. It is difficult for Best Buy to compete with online retailers becauseShow MoreRelatedOnline Shopping Case Study1407 Words   |  6 Pages Who would have ever imagined that buying groceries online would be an option to the general public? The internet has taken over nearly every aspect of the business world, and the grocery business is the most recent item added to the list. The grocery business is enormous, but they were uncertain about what their future may hold due to the increase in online reta il. They knew that their next move would have to be to take their business online if they wanted to continue to flourish. 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