Amazon, the company that undercuts its competition by charging less and operating at a loss, will have some actual competition from another business giant: Best Buy.
According to a press release, the big box electronics store is opening up an online shop called The Marketplace, where it will still sell all of the gadgets and accessories you’re used to, but with the addition of other products from other retailers. So, it’s essentially Amazon, but with the benefit of having real-life stores that people can browse in.
In this day and age, we’re all looking for a bargain. We want things on sale, or we want things to be affordable, so we may browse in stores, but we’re comparison shoppers at heart. This, in effect, makes stores as we know them into showrooms, where goods sold serve as reference materials, as if it were some sort of commodity library. Then we go online, find the cheapest price (hopefully with free shipping), and then we wait.
The good news for people who actually like to go to stores to try things on or test things out, is that Best Buy won’t be shutting all of its stores down. In fact, they will remain open and serve as places to pick up and return items, like a trading post with exorbitantly high rents. And yes, they’ll still sell things and take your money there, too.
It’s too soon to say if Best Buy will dethrone or even be able to contend with Amazon’s grip on the online shopper, but it’s nice to know that it’s no longer a monopoly.