Best Buy recently announced that is will be closing 50 of its 1,450 US stores and replacing them with 100 mobile locations. One of the biggest reasons is showrooming. What’s showrooming? It’s where you go to a store, like Best Buy, look around the showroom, talk to salespeople, then use your smartphone or computer to purchase the item from an online retailer at a lower price. It started a while back when people just copied down models numbers and went home to find items online, but now, with 4G smartphones, you can make the purchase right from inside the store – it’s costing big retailers a lot of sales. Price comparison apps like Amazon Price Check let you take a picture of the barcode in a store and just click to buy the item on Amazon. Visit shellypalmer.com and check out my article called Transparency vs. Information Asymmetry. It will help you understand how showrooming will affect your business.
Shelly Palmer Radio Report – April 3, 2012
Author: Shelly Palmer
Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).