Why Best Buy is Going Out of Business.... Gradually (Forbes article) - High-Def Digest Forums
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Old 01-03-2012, 09:43 PM
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Default Why Best Buy is Going Out of Business.... Gradually (Forbes article)

http://www.forbes.com/sites/larrydow...ess-gradually/
anybody agree with this article?
seems quite possible imo unless some kind of major turnaround occurs.
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Old 01-03-2012, 09:58 PM
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Originally Posted by Arkadin View Post
http://www.forbes.com/sites/larrydow...ess-gradually/
anybody agree with this article?
seems quite possible imo unless some kind of major turnaround occurs.
I agree witht he article.

One, they are over priced.

Two, the sales people don't know what they are doing. I could work in there and be more valuable to the customers with zero taining.

Three, I don't think that sales person was selling CinemaNow. More likely a DirectTV sales person. I'm accosted by them almost everytime I walk in there after work. Which isn't often. It's always DirectTV.

Ya I can see them closing stores to reduce cost next year. They will blame it on the economy and ignore everything else.
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Old 01-04-2012, 12:32 PM
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I'll admit I didn't even bother looking at the article because based on what Mal said, I agree 100%. I only really shop there when they make dumb mistakes on their website or to use their price match guarantee because quite often they are so far off the lowest price in town I end up with a pretty good deal.

In Canada we have both BB and the sister store Future Shop. The only difference is that Future Shop is commission while Best Buy isn't. As a result, the staff of Best Buy normally don't know a thing. Future Shop is a little better, but it's been going downhill there too. I used to work at Future Shop in the Movies/Music department and still can't go in there or BB without helping someone because the staff is just clueless.

The only problem with them closing stores will be losing nearly all brick&mortar stores for buying movies. We're left with BB, FS and HMV. I don't even count Wal-mart cause their selection is completely hit and miss.
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Old 01-04-2012, 01:33 PM
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I am not suprised in the least, I agree with all of whats been said so far. I worked there for a time in the home theater dept, ultimately they forced me to leave, because I was interested in helping the customers vs pleasing management. I really wasn't cut out for it, how can I sell someone a TV who is stretching his budget, paying with two credit cards, when I know it can be had online for hundreds less than what he'd pay at my store? Not to mention their ungodly markup on cables, $70 for the 6ft HDMI cable. It costs more than some of the upscaling DVD players we had! I just told everyone to go to Monoprice cables online and get one for $7.

My favorite story is my supervisor telling me "I know your not on commision, but I need you to sell like you are". I didn't say it out loud, but the only logical response was "why the fuck should I? To get a pat on the back from you, a guy I can't stand, at the price of a peice of my soul?". Point being, if they would actually put employees on commision, and reward them for being knowledgable, things might have been different.
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Old 01-04-2012, 02:42 PM
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That guy said it better than anyone else I've heard comment on the subject. He's right on the money. I won't be surprised if they are gone completely by 2016, but I think it will probably take until 2020.
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Old 01-04-2012, 02:47 PM
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That guy said it better than anyone else I've heard comment on the subject. He's right on the money. I won't be surprised if they are gone completely by 2016, but I think it will probably take until 2020.


I am willing to bet money on Best Buy going bankrupt within this decade. Amazon will take them out.
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Old 01-04-2012, 02:50 PM
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I am willing to bet money on Best Buy going bankrupt within this decade. Amazon will take them out.
I won't bet money on it, because its certainly possible. I will say that they will either have to drastically down-scale, or they will go out of business (and a smaller, more nimble electronics store will rise up and replace them). While I and millions of others love amazon, there will always be room for a brick and mortar that sells electronics.
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Old 01-04-2012, 02:53 PM
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Originally Posted by Plissken99 View Post
I am not suprised in the least, I agree with all of whats been said so far. I worked there for a time in the home theater dept, ultimately they forced me to leave, because I was interested in helping the customers vs pleasing management. I really wasn't cut out for it, how can I sell someone a TV who is stretching his budget, paying with two credit cards, when I know it can be had online for hundreds less than what he'd pay at my store? Not to mention their ungodly markup on cables, $70 for the 6ft HDMI cable. It costs more than some of the upscaling DVD players we had! I just told everyone to go to Monoprice cables online and get one for $7.

My favorite story is my supervisor telling me "I know your not on commision, but I need you to sell like you are". I didn't say it out loud, but the only logical response was "why the fuck should I? To get a pat on the back from you, a guy I can't stand, at the price of a peice of my soul?". Point being, if they would actually put employees on commision, and reward them for being knowledgable, things might have been different.
Well said man. You know that's how these companies have weeded out the employees that they should have kept. But you didn't meet their criteria. They want people like themselves. Greedy and con artists. But like crooks. They can only get away with it for so long. Gone are the days of my father and grandfather where people actually took pride and provided a great service for a fair price. Those guys are still out there. But big corporate America has muscled them out for the most part. that's why I pride myself on great customer service. Always have. Sounds like you do too! Kudos!
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Old 01-04-2012, 02:59 PM
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Originally Posted by TheAnalogKid View Post
I won't bet money on it, because its certainly possible. I will say that they will either have to drastically down-scale, or they will go out of business (and a smaller, more nimble electronics store will rise up and replace them). While I and millions of others love amazon, there will always be room for a brick and mortar that sells electronics.
Walmart and Target will fill the B&M void easily.
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Old 01-04-2012, 03:02 PM
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Walmart and Target will fill the B&M void easily.
I don't think so, but then I remember quite fondly life before BestBuy and it wasn't any worse..or better. I'd much rather have a smaller electronics shop to drop by as opposed to shuffling around walmart like a herd of cattle.
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