Walking through Sears today I happened to come across a couple looking at a Kitchen Aid mixer, with the price of $199 prominently posted. The man pulled out his smartphone, read the barcode and told his partner “it’s cheaper at Best Buy. Let’s go.” And they left Sears, presumably headed to Best Buy. Out of curiosity, I loaded one of my trusty barcode reader apps (in this case, @ShopSavvy) and checked the price. Sure enough, it was available at Best Buy for $179, a $20 saving, or 10 percent.
Now that may not seem like such a big deal, with a brand the size of Sears, which has about 2,500 stores in the United States and Canada. But if you consider the magnitude of the power of people armed with smartphones and barcode readers, the impact can be profound.