Looking To Buy A New TV? How Costco And Best Buy Compare

TVs have long been central to our lives. They help older family members catch up on current events and entertain toddlers with timeless cartoons. Even today's teens will sometimes zone out in front of the TV, flipping through dozens of channels before diving back into their smartphones. In fact, an average person spends about two to three hours a day watching TV. So, when it's time to upgrade, where should you shop? Costco and Best Buy are two popular stores for everyday electronics. While they both dominate the market, their services and perks aren't the same. For instance, Costco's lenient return policy is renowned, and the chain also offers extended warranties on TVs. Best Buy, on the other hand, allows non-members to shop and sometimes provides free installation.

While the best picture quality and the lowest price are important, they're not the only factors you need to consider when buying a new TV. Extras like those mentioned above are worth careful consideration. Like every other electronic device in our homes, TVs are bound to run into some sort of issue sooner or later, so you want to buy a new one from a reliable retailer. Similarly, unlike a smartphone, which many of us replace every two to three years, TVs are a commitment. The real question is not, "Which store is cheaper today?" Instead, you need to ask yourself which retailer best serves your long-term needs and make an informed decision accordingly. Comparing Costco's and Best Buy's offerings can definitely help.

Warranty coverage varies a lot between retailers. Costco clearly offers an extended warranty on many electronics, including TVs. This is a big deal — most television manufacturers only provide a one-year warranty. However, Costco offers a two-year extended warranty on many TVs. This adds a layer of financial security that typically requires an additional fee elsewhere. Best Buy, on the other hand, operates on a standard one-year manufacturer warranty model. However, you may see them promoting their Geek Squad Protection plans. You will have to pay extra to get an extended warranty if you opt in. Plus, the cost of the plan varies depending on the TV brand, size, and features.

Similarly, return policies are another place where Costco and Best Buy differ. For instance, Costco has a straightforward 90-day return window on electronics, including TVs, and other common household appliances. This means if anything goes wrong with your device within 90 days of purchase, you can bring it back to Costco, and they will refund your money or replace it. Your choice! Best Buy, however, uses a tiered return system. If you are a standard customer, you have 15 days to return the TV after purchase. If you are a Plus Member (a privilege you pay for), you get a 60-day return window.

When it comes to warranties and returns, Costco may seem like the place to go when you're thinking of buying a new TV. However, there are other factors to consider. Take, for instance, installation. With Best Buy, you can often get free basic TV mounting and assembly with larger-sized TVs. In addition to that, Best Buy also runs periodic promotions that allow you to get any size TV installed for free. This saves you from having to choose only the oversized select TVs that come with free setup. The problem, though, is that you usually have to be a My Best Buy Total Member (costing $180/year).

Costco, on the other hand, does not offer free TV installation. If you want them to install your TV, you have to pay extra, even if you have their Executive Membership. However, you do get a 2% cashback on eligible purchases (capped at $1,250 annually) as an Executive Member, which may help recover the cost of installation if you shop at Costco often. Where Costco does it one better than Best Buy is in their free post-purchase technical support. Even their basic tier (Business or Gold Star) members (costing $65 a year) get this. If you want post-purchase technical support from Best Buy, you either need to be on the My Best Buy Total plan or buy Geek Squad Protection.

Lastly, you need to consider the breadth of TV models and brands on offer at both stores. Costco only sells an arguably small selection of brands, leading to somewhat limited options for the shopper. Best Buy, on the other hand, sells a wide selection of brands, giving you lots of opportunity to compare specifications.