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Best Buy's (BBY) Totaltech Launch Before Holidays to Lift Sales

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Best Buy Co., Inc. (BBY - Free Report) is among those players that are making cogent efforts to offer the best to their guests. Its efforts to serve the society with respect to fulfilling consumers’ technological wants are commendable. Progressing along the said lines, the company recently launched a Totaltech membership program, which looks forward to cater to all tech-support needs by a group of experts. The program is now available throughout the nation.

Totaltech has everything for its members from infinite Geek Squad support to a 24/7 VIP service and special member pricing. For $199.99 a year, members can avail free and unlimited Geek Squad tech support on all the technology, irrespective of where they purchased them; no cost delivery; standard installation; Totaltech Expert Access; product protection; discounts on repairs and many more. Totaltech Expert Access is a VIP service wherein a member can access the chat teams.

This program offers a discount of nearly 20% on labor advanced services and repairs, and 10% on custom installations, and extended 60-day returns. Totaltech provides product protection on the majority of Best Buy purchases for about 24 months during active membership. This protection covers AppleCare+ on Apple products.

As the holiday season — the most crucial part of the year — is round the corner, the retailer brings a lot more. Management said that Totaltech members will have a greater support this festive time. They can avail a few of the season’s hardest-to-find products and an access to Member Monday. Starting Oct 18 and running selected weeks in the season, Member Monday is a new series of special events wherein members can get exclusive deals on certain attractive tech products. This series also includes exclusive deals for customers being part of the company’s free membership program, My Best Buy.

More on Totaltech Drive

Last year, Best Buy introduced an important membership pilot called Best Buy Beta. This includes unlimited Geek Squad technical support on the entire technology including 24/7 VIP access. Management had earlier highlighted to scale up the program nationally across stores and online at the end of the third quarter of fiscal 2022 under the new name, Best Buy total tech.

Best Buy is constantly conducting several tests and pilots to become a more customer-centric, digitally-focused, efficient company. The launch of the Totaltech program prior to the holidays is quite a wise move. Analysts are also optimistic about the company’s new membership program. It is likely to lure new signups and drive consumer traffic in the holiday period. As a result, this presently Zacks Rank #1 (Strong Buy) company will be able to tap higher sales and in turn, boost the overall profitability. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of this consumer-electronics retailer have increased 10.2% so far this year compared with the industry’s 18.7% rally.

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