Best Buy starts Black Friday deals early amid supply chain woes

Dive Brief:

With holiday shoppers preparing to shop earlier this year, Best Buy is offering Black Friday deals from Oct. 19 until Oct. 22.
Best Buy is implementing a price guarantee, which means the price of goods won't go lower prior to Black Friday, according to a Thursday press release. If it does, the retailer will automatically provide refunds for members of its My Best Buy and Best Buy Totaltech members for the difference they paid. Non-members can still get a refund by visiting a store or reaching out to the Best Buy customer care team.
Best Buy said it will offer Black Friday deals multiple times throughout the season, but the retailer will also start Black Friday a week earlier this year on Nov. 19. The retailer will close on Thanksgiving.

Dive Insight:

Amid the ongoing COVID-19 pandemic and widespread supply chain woes, major retailers are shifting away from offering their best holiday discounts on Black Friday. In addition to Best Buy, Amazon and Target have each offered earlier holiday shopping deals for consumers this year.

As the holiday season quickly approaches, the global supply chain remains tied up due to the coronavirus pandemic. Because cargo ships are clogged at U.S. ports, retailers may face product shortages and, in turn, charge customers more for holiday purchases.

Last year, the National Retail Federation ran a campaign encouraging consumers to shop earlier and safely due to the pandemic. The trade group found that 43% of shoppers planned to wait until November 2020 to do their holiday shopping, and 59% wanted to shop more online than in 2019. But this year, following the rollout of coronavirus vaccines, 85% of respondents to an ICSC survey said they plan to conduct their holiday shopping in physical stores, and 75% said they plan to shop earlier this year.

Best Buy this year is also offering new options for consumers to get their orders. The retailer will place shoppers' purchases in lockers for pickup at select stores and notify them when they're ready. The company is also introducing mobile self-checkout at select stores to let customers make purchases on their Best Buy app and show their digital confirmation as they exit the store.