Best Buy to Launch 'Buy Back' Program for Electronic Products

One of the obvious advantages of Buy Back Programs is that they turn electronic thrash into cash. The retail giant of consumer electronics is rumored to launch a Buy Back program by this week. The offer would be available for phones, laptops, netbooks, tablets, and TVs priced under $5,000. Sources also suggest that this service will be soon expanded to cover other product categories during the year.

Under this new protection plan, the consumers will be able to sell back their devices for a percentage of its original MSRP. Best Buy is going to resort to an aggressive marketing strategy in forms of advertisement and commercials that will go live from February 6th.

For each of the products covered under this service, the pricing policy will differ. Television Sets which have been used for less than 6 months can fetch 505 of their original full retail price whereas those going beyond 6 months but within 12 months are entitled for 40% so on and so forth. Best Buy Gift cards will be given against such buy backs instead of hard cash. The sales staff of the retail units have trained to meet the USP of this scheme with the motives of the customer by calling it a ‘protection against obsolescence.’ Well, in times of recessionary and inflanatory trends in the economy, this trend will surely catch up with other retailers too.