The other day I was lounging around watching TV when I saw a new Best Buy ad. The ad was to promote their new “buy back” program where they will buy back your electronics (at a lower price of course) to keep up with ever changing technology. At first I didn’t think much of it. I mean big corporations like Game Stop have been buying back their products for years. But the more I thought about it I said, “why aren’t more companies doing this?” After all, places like pawn shops Boca Raton have been doing it for years. I mean pawn shops will buy basically anything they think they can make a profit on. And with the introduction of eBay in the last 10 years selling useless items has never been easier.
After seeing the ad and thinking more of it I Googled it to see what other people thought. Most articles that I read said the general public was drawn to the program and it seems to be working for Best Buy. It makes perfect sense. Why throw away your obsolete two-year-old laptop when you can sell it back to the place you bought it from? You can even use the money you get towards a new one. The fact that more companies don’t do this is mind boggling.
Personally, when I was younger, I worked at Game Stop, then at an estate jewelry store, and now at a pawn shop Boca Raton. All three of these companies make a majority of their money by buying back customers valuables and selling them at a discount. For 5 years I have seen first hand the success that companies have from buying used items. For example, Game Stop will buy back a video game for a fraction of what they sold it for; and they will sell it as “pre owned” for three or four times what they bought it back for. They entice you to sell your games back to them by offering more money if you use the money towards a purchase. It is no coincidence that Best Buy saw the success of Game Stop and adopted its own “buy back” system.
Best Buy has yet to say that they are going to adopt this “buy back” program forever. In fact I think it is only for a limited time. Maybe they are testing it out before they offer it forever? While I am not the CEO of Best Buy or of any other company for that matter, I have seen what success buying back old products can have for a company and I recommend Best Buy keep this program forever.
by, Seth at Boca Raton Pawn