Best Buy Targets Big Spenders
Best Buy’s retail strategy for the holidays resembles the sort often pursued by high-end department stores, rather than big box chains. According to the Wall Street Journal, the retail giant will offer both giveaways and big sales as a reward to its highest-spending customers, who are members of its Reward Zone program.
The initiative will entail sending invitations to “best customers” who are members of the program, letting them know about special retail events being held at 150 Best Buy locations throughout North America. At the events, drawings will be held for prizes, with both discounts and double reward points available at the event only.
Best Buy’s strategy differs from Wal*Mart and other chains, which have focused more on cutting the prices of more popular, lower-end items.