Best Buy To Launch 'Buy Back' For Used Electronics
MINNEAPOLIS (WCCO) -- The Minnesota-based company Best Buy is launching its new Buy Back Program during the Sunday Super Bowl.
Look at it like insurance. When you buy a laptop, tablet, phone, or TV, customers can buy into the program.
The company says if you bring your gear back within two years in good condition, you can get a percentage back in your pocket, with a Best Buy gift card.
"I really think it's a good idea, because people like me, I like to keep up with technology, right?" said Buneet Manchanda, a Best Buy customer from Canada.
Here is what would happen under the Buy Back Program. Let's say you want a laptop. Under the Buy Back program, customers would pay $69.99. Then, if you bring it back within 6 months, you get 50 percent of the purchase price back, 30 percent after a year, and 20 percent as you reach the end of the two years.
Stay tuned on Super Bowl Sunday. Best Buy says more details will be revealed by Justin Bieber and Ozzy Osbourne in a third quarter commercial.
A high profile push comes with a benefit.
The company hopes the program will increase electronic recycling, which is one trend that's here to stay. Goods that don't have resale value will be stripped for parts as part of the in-store recycling programs.
And, of course, Best Buy hopes this is an incentive to spur sales..Reports showed sales were lower than expected this past holiday season.
The corporate offices in Richfield declined comment on their new program until after the Superbowl promotion.
