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Can Best Buy Turn Itself Around?

Posted by: Alex DiVincenzo (03/29/12)
Could this be the beginning of the end of Best Buy? The company is suffering a fall in revenue and is closing 50 stores and laying off some 400 employees.
 
Displaying posts 1 - 15 of 59
11:02 AM on 03/29/12
#2
chrisstahl
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Best-Bye
11:11 AM on 03/29/12
#3
t00latef0rr0ses
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lolz

With the way people have access to online stores and product reviews, its amazing stores like this last as long as they do. Personally, I like going to stores to see the picture of a tv or hear the sound come out of headphones, but nothing beats reading a bunch of reviews and purchasing products in your underpants.
11:15 AM on 03/29/12
#4
njdevils327
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Fuck. I actually love best buy. They are so good about honoring their warranties and you can get pretty good deals there. I'm guessing walmart is the cause?
11:16 AM on 03/29/12
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trojanick
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Hope not. Still buy a good amount of CDs there - they usually have good discounts on new opening week CDs ($7.99).
11:17 AM on 03/29/12
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jhotmann21
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Went into a store yesterday to pickup an item that I bought online and was shipped to the store...took 45 minutes because all the customers in the entire store were at the service desk...doesn't bode well for them.
11:20 AM on 03/29/12
#7
rebelaznboy
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it's only a matter of time before best buy completely shuts down. there should only be one reason to purchase something from best buy, and this is for needing something immediately in an emergency situation. otherwise, you are only a fool for purchasing things at best buy. online shopping is so much cheaper.

given this is a music site, many of us have memories going out tuesday morning to BB or CC back in the day and purchasing new music. the reality of it, at least for me is that i personally will download leaks. if i like the album enough i will then proceed to do a pre-order from the band. for me, there is no more reason to go out tuesday morning for new releases.

also, rumors are, amazon.com plans to have retail stores as well. the idea is that each amazon.com store will be catered to the region they are in. this alone would kill best buy.

update: forgot to add that i also use best buy now to play with new toys and gadgets, then go home and purchase from amazon.
11:24 AM on 03/29/12
#8
Spencer Control
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I hope not.

Edit: Meaning, I hope BB doesn't go under.
11:27 AM on 03/29/12
#9
mr_raccoon
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Why am I not surprised. This company still thinks it could get away with selling $100+ HDMI cables to people who wouldn't know any better.



^that and they thought people would pay for this kind of service...
11:31 AM on 03/29/12
uglystar03
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Good riddance. Support your local record store.
11:31 AM on 03/29/12
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That article is a bit sensationalist. A couple thing that article didn't mention that you all should be aware of:

About 6-7 years ago, Best Buy was competing with Circuit City. When Circuit City would bid on a spot to put a new location, Best Buy would come and bid higher so CC couldn't have market share. The problem was that they put these stores really fucking close to each other (around 5 miles apart) so now the leases are up, Circuit City is gone and they are getting rid of those stores. Also, they fail to mention that Best Buy is opening another 100 locations.

I'm also a bit confused at them closing down 50 stores but only 400 employees are laid off? 8 employees per store are getting the axe?

Edit: The 100 locations are mall locations that will primarily sell cell phones and accessories.
11:34 AM on 03/29/12
plns
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it's only a matter of time before best buy completely shuts down. there should only be one reason to purchase something from best buy, and this is for needing something immediately in an emergency situation. otherwise, you are only a fool for purchasing things at best buy. online shopping is so much cheaper.

given this is a music site, many of us have memories going out tuesday morning to BB or CC back in the day and purchasing new music. the reality of it, at least for me is that i personally will download leaks. if i like the album enough i will then proceed to do a pre-order from the band. for me, there is no more reason to go out tuesday morning for new releases.

also, rumors are, amazon.com plans to have retail stores as well. the idea is that each amazon.com store will be catered to the region they are in. this alone would kill best buy.

update: forgot to add that i also use best buy now to play with new toys and gadgets, then go home and purchase from amazon.
The problem with Amazon retail stores is that their stock is going to be a fucking mess. They would probably stock less than 1% of what they have online. Also, I imagine they would be competing with Target or Wal-Mart if anything.
11:36 AM on 03/29/12
mr_raccoon
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That article is a bit sensationalist. A couple thing that article didn't mention that you all should be aware of:

About 6-7 years ago, Best Buy was competing with Circuit City. When Circuit City would bid on a spot to put a new location, Best Buy would come and bid higher so CC couldn't have market share. The problem was that they put these stores really fucking close to each other (around 5 miles apart) so now the leases are up, Circuit City is gone and they are getting rid of those stores. Also, they fail to mention that Best Buy is opening another 100 locations.
The company has said they're going to open up smaller stores that are around 20% smaller than a regular Best Buy (sorta like those 'mini' version of Walmarts)
11:36 AM on 03/29/12
WeltallAY
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I used to religiously go to BB for CDs but they slowly shrunk their selection to the point where now they only have the most popular of choices and the prices are no longer competitive. It was one of the few stores I loved going to and now it's useless to me (games are in the same situation).
11:39 AM on 03/29/12
thesinkingship
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Best Buy overcharges for a lot of items.
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