The minutes ticked down Wednesday morning until the first in a series of Best Buy Drops, a new type of online flash sale that the retailer is debuting for the holidays.
As consumers have tighter budgets this upcoming gift-giving season, merchandisers like Richfield-based Best Buy have prepared a host of promotions to convince customers that they have the best deals.
To get the deals, shoppers download the Best Buy mobile app and scroll down to the "Drops" section to see what products are for sale that day and what are coming up in the future. The "Drops" include limited-edition products and new product releases.
There's a countdown, and once it reaches zero, customers will be able to buy the promoted items at the lower price. Customers can see how much inventory is left before a product sells out.
While anybody can take part in the sales, members of its loyalty programs — My Best Buy Plus and My Best Buy Total — will get bigger discounts.
Best Buy's first drop was an Apple Watch Ultra 2, which Apple debuted earlier this month. The watch usually sells for $799, but the drop gave a discount of $70 and $80 for Plus and Total members.
Best Buy's deals of the day is another limited-time sales program. Best Buy leaders have predicted sales will be even more important to consumers buying gifts this year as they try to save money.
"Our hypothesis regarding the holiday season is that the consumer largely returns to pre-pandemic behavior," Best Buy CEO Corie Barry said last month during an earnings call with analysts. "By this we mean that they will be looking for great deals and convenience, and traffic will be weighted toward promotional events."
