Best Buy is launching a new three-tier membership program

 

Best Buy is launching a new three-tier membership program, My Best Buy, in late June to drive customer loyalty and generate revenue.   The company expects revenue to range from $43.8B to $45.2B this fiscal year. Best Buy's TotalTech membership program has seen new 5.8 million paying customers, contributing nearly $1.2B in annual revenue. The program will be reintroduced under a new name, with the highest tier's cost halved and with 24-hour tech assistance, product protection, and repair discounts included. A free loyalty program from Best Buy, a middle tier with member-only rates, and a more comprehensive return policy will be available. The price of Best Buy's stock, which closed the day at $72.22, is down roughly 23% from its 52-week high after going down around 10% this year.