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Old 03-29-2012, 11:12 AM
 
2,104 posts, read 3,586,218 times
Reputation: 2061

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BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores

Quote:
Electronics retailer Best Buy announced it would close 50 big box locations in the U.S. as it refocuses its operations around mobile.
The company said it will launch 100 new mobile locations as it retools its domestic store format.
The announcement was timed with the company's fourth quarter report, where it sharply beat analyst expectations on the bottom line....
Quote:
...Best Buy has rapidly been trying to turn its operations around as it has seen peers CompUSA and Circuit City fail. Consumers have been using its locations as a testing ground for products before making final purchases at competitors like Amazon and Walmart...
BEST BUY IMPLODES: Misses Revenue, Firing 400, Closing 50 Stores - Yahoo! Finance

I feel bad for BB since too many people take unfair advantage of their lax return policies...
Let's hope that Charlotte area will not be affected and potential layoffs people will get a job in the new mobile locations...
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Old 03-29-2012, 12:50 PM
 
Location: Matthews, NC
14,693 posts, read 23,128,863 times
Reputation: 14334
Yes, poor Best Buy. I'm sure it is their lax return policies that did them in and not the wave after wave of warranty/upsell pitches that one had to endure when purchasing an item there. If you annoy your customers, what do you expect.

Real pitch from a BB clerk to me: Hey, I see you are buying a $20 pair of headphones would you like a $5 replacement plan?
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Old 03-29-2012, 12:53 PM
 
8,402 posts, read 20,345,517 times
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IMPLODES????? Hardly. What a ridiculous headline. They're changing their focus, and responding to the market. Companies that don't do that actually do implode. I know firsthand, since I worked for one.

I've always had an issue with shoppers who go into a B&M store to do their research, wasting the time of those employees, and then buy online. It's unethical. To anyone who thinks otherwise, ask yourself this-if you had a store, would you be OK with people doing it to you?
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Old 03-29-2012, 01:01 PM
 
Location: Charlotte NC
11,751 posts, read 9,378,886 times
Reputation: 5248
Quote:
Originally Posted by vmaxnc View Post
IMPLODES????? Hardly. What a ridiculous headline. They're changing their focus, and responding to the market. Companies that don't do that actually do implode. I know firsthand, since I worked for one.

I've always had an issue with shoppers who go into a B&M store to do their research, wasting the time of those employees, and then buy online. It's unethical. To anyone who thinks otherwise, ask yourself this-if you had a store, would you be OK with people doing it to you?
How is it unethical? You mean to tell me you never set foot in a store unless you are purchasing a product?

I would love to have tons of people in my store asking questions and testing the products. I'd rather have a packed store than an empty one.
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Old 03-29-2012, 01:04 PM
 
8,402 posts, read 20,345,517 times
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Quote:
Originally Posted by Feltdesigner View Post
How is it unethical? You mean to tell me you never set foot in a store unless you are purchasing a product?

I would love to have tons of people in my store asking questions and testing the products. I'd rather have a packed store than an empty one.
That's not what I said, is it? No, it isn't. Go read my post again.

Empty or packed, if people are buying elsewhere because of (perceived, often) lower prices, you go out of business.
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Old 03-29-2012, 01:16 PM
 
Location: Charlotte, NC
1,969 posts, read 3,074,141 times
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Best buy would have been best suited to agree to match Amazon's pricing (amazon only, no 3rd party vendors), while touting their ability to provide the item immediately, instead of having to wait for shipping.
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Old 03-29-2012, 01:36 PM
 
Location: Charlotte, NC
1,658 posts, read 1,861,348 times
Reputation: 1478
Unless you require instant gratification, then there is no real reason to buy any major electronics at Best Buy. Due to how high their prices are in comparison to online venues, their stores are becoming more of a showroom for people to try out devices and then proceed to buy online.

Everyone wants to save money. There is no point to buy a $1000 laptop at Best Buy when it can be had online somewhere for $800.

This current move isn't imploding, it's them adjusting their strategy. As the electronics world continues to go towards all things digital and online, B&Ms like Best Buy will have to continue to find ways to adapt or fade away.
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Old 03-29-2012, 01:41 PM
 
104 posts, read 272,633 times
Reputation: 93
Quote:
Originally Posted by vmaxnc View Post
IMPLODES????? Hardly. What a ridiculous headline. They're changing their focus, and responding to the market. Companies that don't do that actually do implode. I know firsthand, since I worked for one.

I've always had an issue with shoppers who go into a B&M store to do their research, wasting the time of those employees, and then buy online. It's unethical. To anyone who thinks otherwise, ask yourself this-if you had a store, would you be OK with people doing it to you?
YOU GOT TO BE KIDDING RIGHT?

I would certainly be ok with someone walking in my store and ultimately choosing to purchase elsewhere. It would be silly to think otherwise.

Consumers will not and should not feel obligated to buy something just because they want a closer look at the item.

If they have or had such a big problem with that then they should charge admission like a warehouse club

I will continue to come look touch and leave and will not in the least bit feel bad about it.......
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Old 03-29-2012, 01:44 PM
 
Location: Charlotte, NC
3,356 posts, read 8,880,895 times
Reputation: 1932
Customer Service is the key.

The reinvented Compusa, has terminals for you to check the prices and reviews of everywhere else in the store.

For long enough best buy was hiring youngsters, they may or may not know technology but they sure do not know how to talk to customers.

The severe lack of service drove me away from best buy.
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Old 03-29-2012, 01:55 PM
 
40,107 posts, read 24,354,028 times
Reputation: 12619
Quote:
Originally Posted by vmaxnc View Post
That's not what I said, is it? No, it isn't. Go read my post again.

Empty or packed, if people are buying elsewhere because of (perceived, often) lower prices, you go out of business.
Getting them in the store is half the battle. Best Buy gets them in, they have the first chance to close the sale. They aren't closing the sale, and that's what they have to resolve. The foot traffic in the store is a POSITIVE, not a NEGATIVE.
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