Best Buy Announces Buy Back Program
Super Bowl Sunday will bring more than a game and some high-profile ads. It's also when Best Buy is expected to announce a new program that will offer consumers a small degree of price protection and encourage them to upgrade old purchases to new ones.
To enroll in the Buy Back program, enroll your product purchase for a fee. Best Buy will then offer to buy it back for a percentage of the original price within six months. The longer you wait, the more the percentage goes down. Good deal? That's up to you. But if the product is something whose value would depreciate quickly, and you're inclined to update often, it may be worth considering.
Engadget reproduces the announcement from Best Buy CEO Brian Dunn, which follows in full:
Because you're a valued Best Buy customer, I want to personally tell you about a program we're launching during the "big game" this Sunday, Feb. 6. It's called the Buy Back Program and we're announcing it in a commercial during the third quarter, with stars like Justin Bieber and Ozzy and Sharon Osbourne.The program will apply to TVs, mobile phones, laptops, netbooks, and tablets within two years of purchase. See Best Buy.
Buy Back is essentially "future-proofing" your technology. You purchase the technology you want today, and we'll buy it back at a set price when you're ready to upgrade to something new. You'll know upfront what your gear will be worth, and you can conveniently redeem your Buy Back at our stores and immediately receive a Best Buy Gift Card.