Best Buy launched a membership program for customers to gain access to social perks. The electronics retail giant announced that its new program would eventually replace its current membership offering. As pandemic restrictions lift, retailers are finding new ways to adapt to the changing consumer demands. Best Buy opted for an annual membership program to appease electronic needs.
Best Buy's new membership aims to facilitate tech purchases. Customers will have access to a Member Monday event starting on October 18th, which includes special deals. The program is dubbed Totaltech and provides unlimed 24/7 tech support as well as special pricing. Participants will have access to free shipping and installation as well as product protection on virtually all purchases.
Electronic Retail Membership Programs
Best Buy Unveiled its new Membership Plan with Special Perks
Trend Themes
1. Membership Programs for Consumers - Other retailers might follow suit and launch membership programs to keep their customers engaged.
2. Tech Support and Product Protection - Offering 24/7 tech support and product protection can be a disruptive innovation for tech retailers who want to compete with Best Buy.
3. Online Purchase Assistance - Retailers can offer online purchase assistance and consultation as a part of their membership programs for customers who prefer convenience.
Industry Implications
1. Retail Industry - Electronic retailers that do not have membership programs can adapt to the trend and launch their own to keep their customer base engaged.
2. Tech Industry - Tech retailers can innovate and offer their own versions of 24/7 tech support and product protection to compete with Best Buy's Totaltech program.
3. Customer Service Industry - Companies that specialize in customer service can partner with retailers to offer consultation and support services to online shoppers as a disruptive innovation within the retail industry.