Best Buy to close a "significant" number of stores after Christmas 2012?

[Meresgi]

They need to sell some more diamond HDMI cables and $9000 TV mountings!

[kuronosan]

By the way, management rarely ever tells their employees about closings. I only found this out because I have old connections in retail.

[volcanicweather]

Best Buy is losing out on money because people will go there to demo the big ticket items in person, then go home and order them from Amazon.com or Walmart.com for usually 15-20% cheaper.

This, new model is order online and pick-up in-store because research has shown that a solid percentage of people who pick up in-store also make other purchases while in the store. The giant warehouse showroom model is dated and the reluctance of Best Buy to move away from it has done them in. Should have learned from Circuit City and evolved their retail space to be more of a "mini-mall" with made-to-order food, "geek" apparel, etc instead of just sticking with the same old plan. Even Fry's continues to diversify their product offering and many have cafes in them now. Best Buy has no one to blame but themselves.

[Orden]

This, new model is order online and pick-up in-store because research has shown that a solid percentage of people who pick up in-store also make other purchases while in the store. The giant warehouse showroom model is dated and the reluctance of Best Buy to move away from it has done them in. Should have learned from Circuit City and evolved their retail space to be more of a "mini-mall" with made-to-order food, "geek" apparel, etc instead of just sticking with the same old plan. Even Fry's continues to diversify their product offering and many have cafes in them now. Best Buy has no one to blame but themselves.

This. It's a failure to adapt. Some people build their product and then bring it to market. The correct way is the go to your audience first, listen to them, and then build your product with their needs in mind. When a market fails to respond they are giving you clear instructions, "I don't like this." If you fail to adapt to contemporary consumer culture you lose. No amount of brand awareness will help you. Unless you're a bank, apparently.

[Orden]

.

[BaneTheBrawler]

Banks have the benefit of being able to technobabble their way out of things. Normally, technobabble wouldn't work, because smart people would catch on and alert their dumber brethren, but banks have the power to just invent shit that fits their technobabble. It'd be like if the mechanic who charges people for headlight fluid went in back and came out with headlights that required fluid.

[Kerberoz]

Where will I buy my $500 component cables now?!?!

[Meresgi]

Where will I buy my $500 component cables now?!?!

From me, ill even give you a 10% BG discount....after I mark them up 200%

[Guitarman]

By the way, management rarely ever tells their employees about closings. I only found this out because I have old connections in retail.

Backing this up. Was laid off a few years ago, just one day we were called into the office with the regional guys there. Sorry, pack your shit up. Time to go.

[Headspace]

From me, ill even give you a 10% BG discount....after I mark them up 200%

Old discount is back bro!

[Plow]

This shit is olde, weren't they on the process of moving all the focus into mobile best buy stores or something?

Yeah, I'm confused, this came out like a month ago.

Closing a bunch of big box stores, focusing on new small ones that are primarily for cell phones and shit.

[Skjie]

They're opening up a new location in Vancouver. Canada says, sup.

Meanwhile, Geek Squad Canada has been laying people off like mad.

[kuronosan]

Banks have the benefit of being able to technobabble their way out of things. Normally, technobabble wouldn't work, because smart people would catch on and alert their dumber brethren, but banks have the power to just invent shit that fits their technobabble. It'd be like if the mechanic who charges people for headlight fluid went in back and came out with headlights that required fluid.

Oxygen-pumped gold-plated hdmi cables!