For anyone into tech, Best Buy is a paradise. It’s a place where the latest gadgets and electronic marvels line the shelves. This makes its employee discount program a big perk for many.
Keep reading to get a real sense of how their policy works and what you can save as an employee.
In this article:
What is The Best Buy Employee Discount Policy?
Best Buy does offer discount programs to its employees, and it’s widely regarded as one of the best benefits of working there. This electronics retailer uses a Cost + 5% model. This means employees can purchase items at a cost of just 5% more than what Best Buy paid for them.
This system can lead to some pretty significant savings. Depending on the product, employees might see discounts ranging from 20% to a whopping 40%. You always get whichever is lower between the employee price and the current list price.
For example, if a laptop costs Best Buy $800 wholesale, as an employee, you could buy it for $840. That’s a $260 discount off the $1,100 retail price.
Or let’s say a TV costs the company $500. With the employee pricing, you’d pay $525 rather than the $750 regular price, saving yourself $225.
What if the retail markup on a product is less than 5%? Then you just need to pay the retail price. You always pay the lowest price available, whether the employee or regular retail price.
What Items Are Eligible for the Employee Discount?
This policy covers almost every item Best Buy carries in their brick-and-mortar and online stores. You might need these things regularly, and the savings here can be pretty decent.
Essential items like cables, chargers, cases, and audio equipment are, of course, eligible. So are things like printers, external drives, computer monitors and other computer peripherals.
You can also get this pricing on major appliances, TVs, home theater systems, and smart home devices. Gaming consoles and VR headsets qualify, too.
Beyond just physical categories of products, these generous discounts extend to services from Best Buy’s partners too, like cell phone plans offered through partners like AT&T. This can be a game-changer for employees looking to cut down their monthly expenses.
But that’s not all. Salaried or hourly employees at Best Buy also get discounts on various insurance plans like auto, home, renters, and pet insurance.
Other services include identity theft protection, Geek Squad repair, access to legal services plans, and commuter benefits. These exclusive discounts can add up to significant savings in the long run.
Another notable aspect is the tuition assistance and discounts Best Buy offers. This can be a huge help for employees aiming to further their education. It’d be enough to earn degrees without any out-of-pocket costs in some cases (or at least that is what Best Buy claims).
New eligible items and services are frequently added to the program, so it’s worth keeping an eye out for the latest deals.
However, there are some exclusions. Not everything is up for grabs at a discounted rate. Major ones are Apple products, smartphones, movies, video games, and tablets. Certain specialty high-demand products are also left out, at least for a short period after launch.
How to Use The Discount
It’s pretty straightforward to take advantage of this policy.
Feel free to use your discount at any Best Buy location, which is great for convenience. You’re not restricted to shopping at the store where you work. Remember to have your employee ID handy to speed up checkouts.
To do this online, first use the Employee Price function on the Best Buy Connect app. This will link your employee credentials to the regular Best Buy app.
From now on, Best Buy will show employee pricing for eligible products on your personal account. If you’re okay with a deal, you can add it to your cart and complete it like a normal purchase.
For services like phone plans, the process might vary a little bit. You may need to follow specific instructions from Best Buy or the service provider.
Some Limitations to Keep in Mind
As good as the program sounds, some nuances exist to navigate here.
Typically, new hires must wait 30 days after starting before getting discount eligibility. However, this waiting period is waived during the busy holiday season (between November 20th and December 31st), so all employees can enjoy the savings.
Some high-demand products have a minimum employment period of 3 months before discount eligibility kicks in. This includes certain game consoles, VR headsets, and hot ticket items.
Some workers have also questioned whether Best Buy inflates the “cost” they use to calculate discounts in some cases. It’s difficult for me to verify this as an outsider.
Frequently Asked Questions
Who Can Use My Employee Discount?
Your spouse/partner, dependents under 23, and you can all use it. But you must be present and make the purchase, as they can’t use your current employee ID independently.
Is There a Cap on These Discounts?
While there’s no hard annual limit, managers might check in if your purchases seem unusual or suspicious.
The flexibility of employee discount policy at Best Buy and its wide range of tech products are definitely big highlights. It can make a huge difference when upgrading your gadgets or home appliances. Just remember to use this privilege responsibly, and you’re all set to make the most of the attractive opportunity Best Buy provides.
See more: 8 Best Buy Interview Questions