Best Buy apologizes for big mistake of price-gouging Texans for water - after their stock tanks

[Doug the Dem]

Source: RawStory

Bob Brigham
29 Aug 2017 at 19:27 ET

Electronics retailer Best Buy is apologizing to outraged consumers after a social media storm of complaints against a Houston area store charging $42 for a case of bottled water.

The image, which raced across the internet, shows $42.96 cases of Dasani bottled water, next to a “limited supply” of “Smart Water” for $29.98 a case.

“As a company we are focused on helping, not hurting affected people,” Best Buy told Business Insider. “We’re sorry, and it won’t happen again.”

The company claims the “big mistake” was caused by an employee multiplying the price of a single bottle. The company says the price-gouging signage was only up on Friday and that the Cypress, TX store in question is now closed due to Hurricane Harvey.

Read more: http://www.rawstory.com/2017/08/best-buy-apologizes-for-big-mistake-of-price-gouging-texans-for-water-after-stock-tanks/

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Apologize when Caught Red-Handed. Praise the Free Market System!

[exboyfil]

1. Really they put out special signage

On a display as if no one knows how much water costs.

Real weak excuse. Pathetic even.

[neeksgeek]

2. Well, another one bites the dust.

I've generally avoided them, but over the years have sometimes bought something there. No more.

My boycott list was feeling neglected anyway.

[LudwigPastorius]

3. Ah, the much-worshiped 'Invisible Hand' of the market,....

holding down people already suffering under unimaginable conditions and punching them repeatedly in the face.

[bdtrppr6]

4. never purchased anything

in Best Buy when I didn't feel ripped off. haven't been there in years. these big box stores are the last decade's news. Geek Squad is for morans who don't know how to close apps and shut down computer occasionally. hopefully it's their death knell. is it wrong that i want all of these major corps to fail? don't tell me either way- i won't listen to reason.

[xor]

6. You mean you don't think $35 is a fair price for a 5ft HDMI cable?

Best Buy is one of the last places I would go for most things because the vast majority of their items are way overpriced. You might be able to find a fairly priced Dynex keyboard and mouse, but that's about it.

[FiveGoodMen]

19. To be fair, they aren't the only ones charging that

I bought my first 6' HDMI cable for $50 -- yup, that's right. It was at the electronics store (now defunct) which sold me the TV.

I bought the second one for "only" $30 at Target.

Then, I went to Amazon...

I bought two 15' (yes 15 foot) HDMI cables for a total of one dollar and 4 cents.

First one is working fine after 2-3 years of service. Haven't needed the backup yet.

[xor]

5. Home Depot did the same thing with their water...

Trying to sell bulk water at individual prices. You'd think someone would have realized this was special circumstance that warranted maybe selling the water at more standard prices for 24 packs...

I am curious who actually made the final decisions on these prices, and if it was legit attempts to exploit the situation or just someone who was too dumb or ridged to follow the more appropriate path of charging decent prices. I could see someone being scared of losing their job if they took too much liberty in using their common sense.

[TexasBushwhacker]

7. I never underestimate the power of stupidity

Places like Home Depot and Best Buy sell individual bottles of water as a convenience to their customers, so you have something to drink while you thumb through the wallpaper samples or decide on just how fucking big you want your flat screen to be..

[DFW]

8. We don't have "Best Buy" stores here in Europe

But if this is a big chain, a stock drop of nearly 12% has to mean a drop in value of the company in the tens or hundreds of millions. I think the free market system worked better than they would have liked.

[Dopers_Greed]

9. It probably was an honest mistake

Drinks are just an impulse buy for the register. Best Buy isn't a grocery store, so don't normally sell cases of them at a discount.

They make a tiny amount (a fraction of a fraction of a percent) on the drinks and snacks, so there'd be no reason to price gouge on them.

Source: I used to work at Best Buy.

[FakeNoose]

14. Maybe so, but the store manager should be allowed to revise pricing in an emergency

It's not a valid excuse that their corporate pricing didn't know about Hurricane Harvey.
The individual store's manager should be able to make on the spot decisions.

[jpak]

10. In some states, this is illegal

yup

[herding cats]

13. It's illegal in Texas, too.

It's a $20k fine per occurrence and $250 if the person is over 65.

[Skittles]

15. ? if who is over 65

[herding cats]

16. The victim.

Sorry out the lack of clarity there.

[Skittles]

18. ah, so stiffing the elderly

yup

what a disgrace

[Hieronymus]

11. Rarely been in their stores ..

I'll certainly think long and hard before doing so again.

[bigworld]

12. Lost in the outrage is the fact that they are regularly gouging people

with $2.09 per bottle pricing EVERY day.

[Blue_Tires]

17. +1000