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Businesses The Almighty Buck Technology

Best Buy Is Laying Off More Employees As It Reckons With Falling Sales (theverge.com) 139

According to The Verge, Best Buy conducted another round of layoffs and job restructurings to "right size" the business in response to declining sales post-pandemic. Further layoffs and changes are expected throughout the year. From the report: The layoffs appeared to have mostly targeted in-home sales roles called designers, who would go to customers' homes to help identify products that would work in their space. It's not clear how many were let go, but designers who weren't laid off have been moved into a different, largely in-store role. Also, pay scales for a similar, existing in-store "consultant" position were revamped. Best Buy confirmed the layoffs in an email to The Verge but declined to share how many people were let go or how pay was changing. "Many of our team members were moved to new areas or roles where our customers need it most," Best Buy spokesperson Ryan Furlong told The Verge. He said some employees in Best Buy's "Design and Consult workforce" -- the collection of roles with in-store workers (called consultants) and in-home field sales positions (called designers) -- will be transitioned into a new "Premium Designer role."

Best Buy has been drastically restructuring in recent months, responding to factors like falling sales after the pandemic spiked consumer electronics spending. Best Buy CEO Corie Barry told investors in February that they should expect layoffs this year, and two months ago, mass layoffs of Geek Squad employees were reported. Barry repeated similar things during the company's first quarter earnings call in May, saying that many of Best Buy's moves to "right size" its business "are being implemented throughout this year."

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Best Buy Is Laying Off More Employees As It Reckons With Falling Sales

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  • by Anonymous Coward

    I am shocked to hear... that Best Buy still exists.

    • When you spew your coffee on your keyboard an absolutely must have a replacement NOW...

      • Walmart, office supply store, having a waterproof keyboard to begin with, having a spare already, etc...

      • Amazon Prime same day delivery

      • I've seen people spill entire cups of coffee on keyboards and they seem to survive just fine. It's not the 80s anymore where it was common to have computers in the same enclosure as the keyboard, or the model M days where the keyboard isn't designed to channel fluids around the electronics instead of directly on to them.

        • Some old Unicomp-made [deskthority.net] IBM Model M keyboards did feature drainage channels but not all Model M keyboards had the feature. Likewise, the modern Raspberry Pi Model 400 [raspberrypi.com] features the computer in the same enclosure as the keyboard.
        • by DrXym ( 126579 )

          Keyboards have PCBs in them which are just as liable to water damage and corrosion as anything else in consumer electronics. You'd probably need to apply a water proof barrier to protect as much of them as possible, assuming the keyboard was valuable enough to go that route. And of course laptops still have keyboards in the same enclosure as the computer itself. I've actually had wine spilled on a laptop where the computer survived but the keyboard did not, and the laptop still worked when an external keybo

      • by Dadoo ( 899435 )

        When you spew your coffee on your keyboard an absolutely must have a replacement NOW..

        I can't imagine buying something like a keyboard without being able to see how it feels for typing, first.

    • Yeah, Worst Buy has been declining for a decade. It won't be missed when it goes out of business.

      • I still prefer to buy my movies.... I used to go to Best Buy for their steel case blurays. I went last week to Best Buy, because I needed a cable ASAP for work, and while the blurays, DVD and CD's have gone, they had quite a few LPs for sale.
      • I'm surprised it's still open at all. I remember almost two decades ago being in a similar (now non-existent) store with a colleague who remarked that there was no reason for the place to exist. As he put it, "This is just a showroom for Amazon."

        The same is true for Best Buy where even if you do see something you might like there, you can buy it online and have it shipped to you by one of several companies that don't have the added costs of a physical retail location and can therefore offer lower prices
  • by Anonymous Coward
    I haven't been in Best Buy in decades. The last time was when one of their drones tried to tell me a $50 HDMI cable, saying the colors would be brighter.
    • How long would you have to shop around on Amazon to find an equally absurd claim? I've bought HDMI cables on Amazon that didn't function as HDMI cables.

      I'm not defending the false claims of the guy you talked to, but Amazon is way worse.

    • by NFN_NLN ( 633283 )

      > tried to tell me a $50 HDMI cable, saying the colors would be brighter.

      You left out the part where you told him you were currently running RCA cables to your 4k HDR 10bit TV.

  • They got a momentary reprieve from the shift from standard definition TV to HDTV making a ton of money there. But that shift is over and I can get an HDTV for 20 bucks at a thrift store now. Hell the one I have now was given to me as a hand me down because a buddy was going to throw it out otherwise.

    DVD and Blu-ray sales are done and video game sales are mostly digital now. The PS5 and xbone 2 have probably sold as many as they're going to at their price point and Sony and Microsoft don't seem able to ge
    • it seems like every year there is less and less work to go around

      It's not a "seems" thing. There are indeed fewer jobs in general. Technology is doing the thing it is supposed to do, make less. Make less things required for the same output, make less work required for the same output, make less industries required to support the same level of society.

      But it sucks because it means a loss of a ton of retail jobs

      Ah. See that's the other side of the coin. We've tied work and living wage and quality of life all together. So when you don't have a job, you don't have a living wage, and thus you don't have a quality of life that's

      • Horses didn't pick up new kinds of work when the car was invented.

        I'm stealing this.

        • Industrialization -> generation and concentration of wealth -> Polo, dressage, and racing
          • by Osgeld ( 1900440 ) on Tuesday June 11, 2024 @09:50PM (#64542317)

            Ya you kind of made his point ... the only horses that still work do so at the amusement of the wealthy

            • by mjwx ( 966435 )

              Ya you kind of made his point ... the only horses that still work do so at the amusement of the wealthy

              Beasts of burden are still commonplace in developing and undeveloped nations... It's just that most of the horse breeding nations aren't that poor any more, however I suspect a horse is still a common mode of transport/work animal in some of the 'Stans.

        • Horses didn't pick up new kinds of work when the car was invented.

          I'm stealing this.

          It's not worth stealing, because it's a terrible analogy. I'll just point out that horses were equipment, not the job, nor the employee. It's like worrying whether your old fax machine can be repurposed. Even aside from all that, horses didn't exactly go extinct either.

          • Horses didn't pick up new kinds of work when the car was invented.

            I'm stealing this.

            It's not worth stealing, because it's a terrible analogy. I'll just point out that horses were equipment, not the job, nor the employee. It's like worrying whether your old fax machine can be repurposed. Even aside from all that, horses didn't exactly go extinct either.

            I think you missed the message. Horses were equipment, and so are we. If you don't see the way management eyes employees exactly the same way as they eye equipment on the shop floor? I'd like to meet your management. They sound like they may have a better head on their shoulders than most. Or at least a bit more heart.

          • I'll just point out that horses were equipment, not the job, nor the employee

            *Laughs maniacally* Oh shit son. Do you think they look at you like a person? [Archer - He thinks he's people meme.gif]

            LOL.

            Even aside from all that, horses didn't exactly go extinct either

            Yeah, rich people always need entertainment.

            Damn. I thank you for the laugh this morning.

        • Horses didn't pick up new kinds of work when the car was invented.

          I'm stealing this.

          But did the guys riding/driving the horses find new jobs? Cars replacing horses is like the new absolutely fabulous AI iPhones replacing the obsolete non-AI iPhones.

      • Those people making 9 figures still need the little guys to keep the system churning that earns them 9 figures, even if those little guys no longer have a place in the market. Automation will reduce the lowerbound on sustainable prices, and the market will push prices down toward those lowerbounds, to meet the demand which still exists. We haven't hit the tipping point yet, but I reckon we're moving closer.

        At the end of the day, you need to understand that people are in charge, and the things serve us, even

        • Those people making 9 figures still need the little guys to keep the system churning that earns them 9 figures

          Let me tell you a story about these six people I knew. They kept up with the tape backup, admin, maintained the email system, etc... And then they all didn't have a job anymore. The end.

          Automation will reduce the lowerbound on sustainable prices, and the market will push prices down toward those lowerbounds, to meet the demand which still exists

          Ah yes, as we've seen with places like McDonald's, the grocery store, and automobiles. A single person, with farming automation can mostly maintain 100 acres of land. Last I checked wheat prices are still up. I guess that lower bound is floating a bit.

          At the end of the day, you need to understand that people are in charge

          There's a lot of people in charge. I think you're forgetting that.

          and the things serve us, even when we're at the bottom of the totem pole

          U

          • Ah yes, as we've seen with places like McDonald's, the grocery store, and automobiles. A single person, with farming automation can mostly maintain 100 acres of land. Last I checked wheat prices are still up. I guess that lower bound is floating a bit.

            Is wheat subsidized where I live? (It is where I live...)

      • It's not a "seems" thing. There are indeed fewer jobs in general. Technology is doing the thing it is supposed to do, make less. Make less things required for the same output, make less work required for the same output, make less industries required to support the same level of society.

        Why then is unemployment going down as we get more and more technology?

        • Since we're doing single line replies, two things as a retort. Labor force participation rate is also down. Funny thing, homeless don't get counted as unemployed.

      • We've tied work and living wage and quality of life all together. So when you don't have a job, you don't have a living wage, and thus you don't have a quality of life that's any good. One of the things we've built into our society. Is it right, is it wrong?

        It's not about right or wrong, You want society to work for you, you have to work for society, You want food, you are asking farmers, driver, store staff, cooks, etc, to do their job so you can have food. You want police, fire fighters, doctors, nurses to be available for you - that is all work you are asking them to do for you. You don't get to have other people work for you for free. You need to work for them too. Money is just a way to easily exchange your work for theirs, saving you the trouble of barte

        • The corollary to that is, there have to be the jobs for people to take in order for them to contribute to society. Also, those jobs need to pay high enough so that they rise above the level of merely surviving and not paying much tax to contributing back to the system at least as much as a person is taking out of it. Consider that more education is not for everyone. Manual labour is not for everyone. The right job for everyone needs to be offered before they can contribute back. I don't know what the r
          • The key here is defining what does "above the level of merely surviving" means. In the end, the total benefit (goods and services) generated by a society is all you got to distribute to everyone. If you have a society with per capita GDP of say $4K (Egypt for example), if you evenly distributed those goods and services, it will produce a way different standard of living than a country like US with 20x the per capita GDP. Remember that GDP per capita is an average, so for every person who produces more there
        • You want food, you are asking farmers, driver, store staff, cooks, etc, to do their job so you can have food

          Okay so how much should an ear of corn be, when a single person can grow 100,000,000 ears of corn with today's technology? How much should an ear of corn be, when a single person can transport 42,000 pounds of corn per truck? Now go off and compare that to the actual price of a single ear of corn. We are able to have a single person produce more food than a reasonably sized city of say 100,000 could possibly consume in a month.

          You don't get to have other people work for you for free

          I'm not debating that. See that's the issue here, someone points out that we'

          • See that's the issue here, someone points out that we're getting a shitty deal on the price and everyone starts thinking "OH YOU WANT IT TO BE FREE?!" No. What I'm saying is that the current price is not correct.

            You are taking it too literally. Change the "you want it to be free" to "you want it to be as per the price you decide and I have no choice". Same thing. In other words you don't get to dictate how much someone is asking for their work. It's a free market, you can price your work or product at whatever you feel like, customers will say how much they will pay, if you meet, sale happens, if not, no sale. Imagine your employer comes to you and tells you "hey, I priced out what it would cost you to pay rent, a

            • Holy shit the mental gymnastics in your reply are astounding. The owner of the company has the cards, they're the dealer, they are NOT the

              because your employer (the customer for your work) decides what a fair price for your work is

              You are doing your damnest to redefine what "service" means and wow are you way off mark here.

              Employees set the price of work, because employers don't have a company if they have no workers. But Employees that have no employer are called self-employed. That's why employers can suck a dick if they think they have the power dynamic you think they have. You do NOT have a

          • Okay so how much should an ear of corn be, when a single person can grow 100,000,000 ears of corn with today's technology? How much should an ear of corn be, when a single person can transport 42,000 pounds of corn per truck? Now go off and compare that to the actual price of a single ear of corn. We are able to have a single person produce more food than a reasonably sized city of say 100,000 could possibly consume in a month.

            The problem with this simplistic thinking is you're ignoring basically everything unseen and just assuming that it will somehow work itself out.

            How much work was involved in preparing the soil for growth?
            How much did all of the fertilizer cost?
            How much did the tools for preparing the soil cost?
            How much did all of the seed cost?
            How much did the water cost?
            How much did pest control cost?
            How much did all of the tools needed to harvest all of that corn cost?
            How much of that corn was actually fit for human consu

            • The problem with this simplistic thinking is you're ignoring basically everything unseen and just assuming that it will somehow work itself out

              I'm literally out here. You want quotes on these?

              Additionally, you're over simplifying how it's rigged. Where do you think the loans for the equipment come from? Who secures them? The insurance, who underwrites it? The contract managers, who do they listen to?

              You're talking about work involved in the soil. 6R pull is about five to eight minutes an acre in local soil here, so 100 acres is a full day. Fuel is about ~$60 for red diesel (harrowing on topsoil around here is about $0.40/acre with red +- on

      • On the bright side, the climate crisis will leave those who survive with a nice scapegoat for what's going to happen to the world's population. "I mean, it's too bad all those people had to die. What ya gonna do? Earth just did what it does." *SHRUG*

      • by Targon ( 17348 )

        Peak human? Western society has been in a decline, because corruption has allowed excessive amounts of wealth to be horded with lower tax rates for the very wealthy than those who work for others. The lower intelligence humans also reproduce at a faster rate than the intelligent people, so we are outnumbered by stupid people who listen to and believe the lies of wannabe fascist dictators, or who see stupid politicians as being the ones to vote for, because they are one of THEIR people.

        Things will get be

    • Also: Amazon. Can't really think of anything one could get at Best Buy that you couldn't get at Amazon instead and probably for less money. Unless you needed it super immediately. Maybe a large appliance, but there are probably better other stores nearby for those. Personally, I'm for shopping locally whenever possible, even if it's slightly more expensive, but don't really consider Best Buy to fall into the category of local things that should (or need to) be helped/saved. They're really not the best

    • it seems like every year there is less and less work to go around

      Unemployment is at record lows in the US. The jobs may be changing, but there is still plenty of them. There is a shortage of good workers in all kinds of jobs, from retail, to trades, to 4+ year degree holders.

    • Best Buy never made money on CDs or DVDs. They sold them as loss leaders.
    • by Targon ( 17348 )

      There was a time when if you went to a retail store, if you wanted speakers, you could go in, and the store might have a setup to let them pick which speakers the amplifier was connected to. This would let those who care about these things hear that the better speakers really did have better low and high reproduction, and how a better pair of speakers can enhance the listening experience. By providing good sales support, people would feel that it was worth paying a bit more than the online prices, becau

  • who lets best buy in their homes for an sales call and does not get taken for an ride?

    • Yeah, I didn't even know this was a thing. People really used that service?

      • by Falos ( 2905315 )

        In theory I would pay for someone to identify use cases and know optimal options that suit me.

        In practice I would get someone who, at best, is knowledgeable about IoT dreck. More likely, a gold monster cable peddler.

  • Finally, the boycott I started in 2001 is beginning to have an impact! Die, you worthless waste of an electronics store, DIE!!!

    • by GFS666 ( 6452674 )

      Finally, the boycott I started in 2001 is beginning to have an impact! Die, you worthless waste of an electronics store, DIE!!!

      Hey, don't hold back, tell us how you really feel.. ;)

  • A quick google shows some history with PE firms. They're pretty much responsible for all business failures these days. Let's face it. If Best Buy was a victim of Amazon and shifting technology changes alone, why have they not either adapted or failed long ago? Anything that is a threat to Best Buy has been a threat for over 10 years. I suspect some PE firms played a role.
    • The PE firm play is pretty standard. You buy the company. Then you purchase assets from the company at a discount. Usually the real estate as part of a sell and lease-back transaction. You buy the asset for cheap and lease it back at above-market. This makes it very hard for the company to be successful. However, that by itself doesn't actually change anything since all of the transactions were still within the PE company. Then what happens, over time, is that the business takes on debt from other so
  • More ex-Geek Squad 'droids' coming to an IT Help Desk near you.
  • This doesn't surprise me in the slightest.

    In the past 6 months I've invested over $6k in new tech without ever setting foot in a store. This includes a laptop, monitor, and new phone.

    If I go to Best Buy, or other store it's to show room. As in, see it, then buy it online.

    But with the plethora of online reviews, it hardly seems relevant to need to go to a store.

    If I need something specific, like cabling, I go to a specialty store. I think the last thing I bought at Beat Buy was a $150 cheapo TV for my dad's

    • by kackle ( 910159 )
      I'm not arguing, just curious, what will you do if it (and all other 'showrooms') closes?
    • "In the past 6 months I've invested over $6k in new tech without ever setting foot in a store."

      I'm not surprised. The nearest BestBuy is over 120 miles away. Obviously I never go there. (The same applies to an Apple Store.) There is a Staples nearby, and I did buy a printer from them several years ago. Everything else has been on-line. It does make buying monitors a bit tricky, but I haven't bought one of those new in a long time. Used monitors on eBay were going for $35 thanks to the office downsizing, it

  • First, CompUSA smote Egghead Software and NCA Peripherals.

    Then, BestBuy smote CompUSA and Circuit City.

    And then, Amazon, eBay, NewEgg, AliExpress, Mouser, and DigiKey smote BestBuy and Fry's Electronics.

    Somehow, MicroCenter and Central Computers lingered like zombies, and B&H Photo Video is thriving like mad with hybrid B&M and online sales.

    The demographics of BestBuy are tourists and people who don't do online shopping but can't find a mall anymore because online shopping destroyed those too.

    • I find it sad. if they close, it would reduces competition. I'm not sure about the US but in Canada there's isn't much competition. I bought many things at BB and appreciated their price match policy.
    • by Khyber ( 864651 )

      "First, CompUSA smote Egghead Software"

      No, Egghead smote themselves, constantly, with fucked inventory systems, misleading investors, etc.

  • Get rid of everything in the store that isn't a major appliance, and hand people a measuring tape at the door.

  • "Post-pandemic"? (Score:3, Informative)

    by fintux ( 798480 ) on Wednesday June 12, 2024 @12:53AM (#64542513)
    On what indicator are we in a post-pandemic state? People get sick, severely ill, die, get long covid all of the time. WHO has not declared the pandemic over, only the public health emergency. Societies just stopped caring about the virus because of economy. But turns out the virus doesn't care if we care.
    • by Dusanyu ( 675778 )
      While the virus is here to stay I am seeing alot less pink cards on patent room doors now than a few yeaars ago. (pink cards are the required ppe level warning cards that indicat that the patent in the room has covid) at one time ((2020 - 22)) almost every room had one these days seeing a single pink card is rare
      • Because everyone who Omicron can kill is dead already I guess. Lets hope there isn't another variant. Maybe it will even wait until the next generation to kill people in bulk again.
    • On what indicator are we in a post-pandemic state? People get sick, severely ill, die, get long covid all of the time. WHO has not declared the pandemic over, only the public health emergency. Societies just stopped caring about the virus because of economy. But turns out the virus doesn't care if we care.

      Ironically enough societies also stopped caring what the WHO has to say. Because of how they handled a pandemic they claim is ongoing. If I can walk around mask-free and be concerned about illness and death at a risk level circa 2019 and current general illness and death rates for my age confirm that, then we’re not in a pandemic. The WHO merely assumes otherwise because they DO feel rather panicked still. About the stability of their fucking jobs.

      • If you can walk around mask-free and not worry about it, then you weren't in the demographic that the WHO is trying to protect.
    • Our power-mad lockdown happy governor declared the pandemic over ages ago. The virus mutated to harmlessness as is normal for corona viruses. The hyper-vaccinated governor got it multiple times, clear proof the vaccine wasn't effective.

      Pfizer keeps whipping up the terror though, it's good for profits.

  • That's probably not fair since the last time I was in one was in 2020 early in the pandemic because I wanted a monitor right away. There didn't seem to be many employees.

    I walked in and looked at all the monitors they had on display and picked one out (but of course I couldn't just grab one and take it to a cashier). I then got in a very socially-distanced line and listened to the guy who just sold a phone to some attractive woman drone on endlessly about how she could use the features. She had already pa

  • the list of dead big box electronics/computer stores is long and growing. I often wonder if the salesperson was lying or clueless in many cases. I suspect the good ones, and there are some, move on at first chance. My favorite story was when they tried to sell me Monster cables because they would make my inexpensive home theater setup look and sound like one costing 10x as much. The cable quote was more than the AV receiver.

    I do check their open box items, as sometimes you could score good deals.

    • by quall ( 1441799 )

      I never understood why they would sell digital cables like HDMI for 3, 4, or 5x the price of standard cables that have the same data ratings. They either work or they don't. I don't need to spend $50+ on a single cable that costs $10 everywhere else.

      • Someone had to step in and fill RadioShack's shoes. I wonder if Best Buy also sells "monster" audio cables that are bigger "so more music flows" through them.

    • by drnb ( 2434720 )
      Fry's was a special case. Terrible usage of space per square foot. Their rent probably made them one of the least competitive.
      • Fry's was a special case. Terrible usage of space per square foot. Their rent probably made them one of the least competitive.

        Probably, coupled with low paid staff that often had no idea about what they were selling. Store decors looked cool, however.

  • When I look at their web site and can order the same stuff direct from China for less - if I'm willing to wait a month for delivery - I have to ask myself a question:

    Do I really care which group of ultra-wealthy people get a bit richer more than I care about saving some money?

    It's not like the shareholders of Best Buy care about me any more than a Chinese factory owner... who is already getting a cut anyway because that's where all the stuff is made anyway.

  • Best Buy is the only "electronics store" left in my town. There is nothing else ! Occasionally, I might buy something, but online.
  • They badly messed up Christmas gift orders I made last year and support tried to be helpful but was ultimately incompetent and insufficient. If their service is poor there's no reason to use it unless they're the only local vendor and I need it today not tomorrow.
  • I tried to use a designer like 5 times. No one ever showed up. I ended up figuring out what I wanted by myself and then ordered it on amazon.

  • Shocking, shocking I say!

    some 12 years ago, I was in the market for a camera. I drove over to best buy and really liked this one $500 camera. It was pretty good, and head and shoulders above the camera in my phone... But, well, then I googled. And in Googling found that that "$500" camera sold for about $350, everywhere and for $320 at B&H Photo. Yeah, I get that brick and mortar stores have to charge more than non-brick and mortar sales does, but.... it just seemed outrageous large of a price differe

    • I don't go there too often but they used to be pretty good about price matching. The problem retail of factory produced goods will continue to face is that logistics wins overhead so the bigger guys will continue to get the margin thinner and thinner and grow until the competition is squeezed out. Because even if they price match to keep you from showrooming, they've likely just now not really made any money on selling you the item if you don't buy some gum at the checkout, too.
      • Back in the late 90's I was an Apple Representative at best Buy stores... back then they seemed to always have good deals. I never liked 'showrooming' as you put it, it didn't seem 'fair' in some sense. I mean, effectively the store was providing one a service for which one did not pay... so, yeah, if I ended up seeing a massive difference in price online, I would buy some dvd's or computer parts or something, and a soda at check out. I don't chew gum.
  • I don't know who thought the store should blast music like that but it really irritates me whenever I need to go there.
  • The only reason I set foot into Best Buy these days is to drop off old computers (minus the hard drive of course) with customer service to be recycled. Its free and it helps me remove clutter.
  • The local Best Buy is little more than a showroom anyway. The staff seem confused when you actually want to buy something.

    ...laura

  • Every time I go to Microcenter there's a line of customers half way around the store checking out. Walmart? Tons of customers. It's not the business, it's the model. Best buy is quickly going to follow CompUsa and circuit City if they don't change their business model.
  • This goes to show how the executives just can't figure out how to run a business. In this age where we can buy just about anything online, the advantage that retail provides is to let people see the differences between products, and good customer service and sales people will be there to educate people. Give people good customer service, and they will buy retail, go minimal with customer service, and people may as well just buy online without seeing the products. Until business executives(not just big
  • At least In all the stores around Phoenix, they never seem to have what you need or at best only stock just the crappiest models/versions of whatever you're looking for, and then ridiculously overprice it.
    Hopefully Best Buy will fold soon and leave a hole that someone with an actual clue can fill.
    I'm still upset that Fry's Electronics went under. They were great but apparently failed because they couldn't get a clue on how to stop shoplifters.

    • [Fry's] couldn't get a clue on how to stop shoplifters.

      Somewhat related, my local supermarket just started having a guy check your receipt upon exit. He looks at it for 2 seconds, scribbles something on it, and sends you on your way. I assume they started doing this due to shoplifting, but I don't see how what they're doing helps. In theory, they'd have to check that every item that's in your bag to see if it's on your receipt, but that would be time-prohibitive.

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