Best Buy will match the prices of online retailers like Amazon this holiday shopping season, reports the Wall Street Journal. Best Buy is making this move to better compete with its Internet-based competitors, which often offer significantly lower prices than the brick-and-mortar electronics retail chain. Best Buy has been dealing with an increasing problem of “showrooming,” which is when customers browse physical products in Best Buy stores, return home and purchase them online.
Best Buy overall has been experiencing a gradual decline in customer traffic to its retail locations across the United States, opting to close over 50 stores in the country and downsizing other locations. In response, Best Buy is attempting to take an Apple approach to its retail stores by adding help desks that are similar to Genius Bars and emphasizing its focus on the customer experience. Nevertheless, Best Buy could continue to struggle in a world that is increasingly integrated with online services.