Welcome Guest! To enable all features please Login or Register.

Notification

Icon
Error

2 Pages12>
Options
View
Go to last post Go to first unread
Offline paul  
#1 Posted : Tuesday, January 3, 2012 2:32:50 PM(UTC)
News


Rank: Member

Reputation:

Groups: Registered
Joined: 9/23/2007(UTC)
Posts: 25,073

Was thanked: 3 time(s) in 3 post(s)
Would you miss Best Buy if the electronics chain suddenly shut its doors for good the way Circuit City did awhile back? The knee-jerk reaction by many tech enthusiasts is to answer "Hell no!" followed by a Best Buy horror story or three, but such incidents aside, would you really be happier if Best Buy no longer existed? Regardless of your answer, the time may come when you'll find out firsthand if the world is a better place without Best Buy in the picture, and according to Larry Downes, a contributing writer with Forbes, the time will come.

Mr. Downes gives Best Buy "maybe a few more years" before the seemingly inevitable happens, and he supports his notion by pointing out a few key metrics. One of those metrics is that fact that Best Buy continues to lose market share, even though it no longer has a competitor in Circuit City. Investors weren't real happy with Best Buy's last earnings announcement, and the electronics chain closed out 2011 with a stock price 40 percent lower than when the year began.


Source: Flickr (nafmo)

The numbers are one thing, but according to Downes, they only scratch the surface.

"To discover the real reasons behind the company's decline, just take this simple test. Walk into one of the company's retail locations or shop on line. And try, really try, not to lose your temper," Downes writes.

He goes on to offer anecdotal evidence of how Best Buy is ill equipped to survive, before getting back on track with better arguments, one of them being the challenge of competing with online giants like Amazon. It's a long piece -- 5 pages -- but mostly interesting and certainly makes you think, what would life be like without Best Buy?
Offline RTietjens  
#2 Posted : Tuesday, January 3, 2012 5:45:58 PM(UTC)
RTietjens


Rank: Member

Reputation:

Groups: Registered
Joined: 6/28/2011(UTC)
Posts: 378

"would you really be happier if Best Buy no longer existed?"

Yes. Absolutely. There's no lack of *legitimate* electronics outlets. Best Buy is not among them.

Offline mrdrcapt  
#3 Posted : Tuesday, January 3, 2012 7:02:48 PM(UTC)
mrdrcapt


Rank: Member

Reputation:

Groups: Registered
Joined: 1/3/2012(UTC)
Posts: 1

Were am I going to use the Amazon barcode scaning app!

Offline omegadraco  
#4 Posted : Tuesday, January 3, 2012 8:05:48 PM(UTC)
omegadraco


Rank: Member

Reputation:

Groups: Registered
Joined: 3/21/2011(UTC)
Posts: 2,827
Location: United States, Connecticut

To be honest I hate Best Buy but I do not want to see more jobs go away and besides the fact they put everyone else out of business in my area so that would leave me no where to pick up certain products in an emergency.

Offline AKwyn  
#5 Posted : Tuesday, January 3, 2012 8:36:25 PM(UTC)
AKwyn


Rank: Advanced Member

Reputation:

Groups: Registered
Joined: 3/18/2010(UTC)
Posts: 3,215
Man
Location: California

Was thanked: 2 time(s) in 2 post(s)

Well honestly I think there'll always be a place for a big-box electronics retailer (Micro Center and Fry's are still doing well in their respective cities.), I do think that there's no place for Best Buy... In any case, if it does go belly up; they should at least sell some of their stores to SystemMax so that they can expand their Circuit City and CompUSA stores past their hometown in Miami. I mean there is still a need for electronic stores, where else can you see TV's up close and personal and have a wide variety of it?

Offline bob_on_the_cob  
#6 Posted : Tuesday, January 3, 2012 8:41:57 PM(UTC)
bob_on_the_cob


Rank: Advanced Member

Reputation:

Groups: Moderator, Registered
Joined: 8/29/2003(UTC)
Posts: 6,135
Man
Location: United States, Virginia

I think Best Buy would hurt me less than losing Circuit City did. But that is mainly because the restaurant I work at is right next door to the old Circuit City headquarters. It was our main source of business. :( Though a new company is moving in this year finally.

On a tech related note I do go into Best Buy once in a while. The usually have decent deals on hard drives which is what is usually broken when someone brings me a laptop to fix. I actually got my PSU from there as well. It was $10 cheaper than Newegg. It's a Corsair 750TX. Really the only component that is over the top is graphics cards.

Now Radioshack is the store I would miss. They are nothing but cellphone stores that carry thermal paste. But they are the only place in Richmond, VA that I know of that I can get Arctic Silver 5.

Offline sarcasticjosh  
#7 Posted : Tuesday, January 3, 2012 9:19:18 PM(UTC)
sarcasticJosh


Rank: Member

Reputation:

Groups: Registered
Joined: 12/14/2011(UTC)
Posts: 36
Location: Scarborough

I dunno.... As much as I despise the company, thats a lot of jobs at stake. I'd rather have a few thousand people employed and scamming a few who are richer than average than having a few thousand unemployed.

Offline realneil  
#8 Posted : Tuesday, January 3, 2012 9:48:23 PM(UTC)
realneil


Rank: Advanced Member

Reputation:

Groups: Administrators, Moderator, Registered
Joined: 4/8/2009(UTC)
Posts: 8,695
Man
Location: Shenandoah Valley, Virginia

Thanks: 2 times

I don't want to bore people with Best Buy horror stories. Everyone has already heard them, or lived them anyway. (is that my knee going crazy?)

There is not one near me, so it will not matter at all. I want to see people retain the jobs that they have, but some practices that have developed at that store over the years piss me off.

I quit making the drive to Best Buy years ago because of how they are towards the customers that shop there.

If they fade away it's gonna be ~because~ of the way they treated their customers, but somebody will replace them soon enough.

Offline MayhemMatthew  
#9 Posted : Wednesday, January 4, 2012 12:04:58 AM(UTC)
MayhemMatthew


Rank: Member

Reputation:

Groups: Registered
Joined: 12/13/2011(UTC)
Posts: 615

Instead of the big box stores, we will hopefully go back to smaller electronic stores that have knowledgeable staff instead of clueless dimwits. Of course not all employees are, but a lot of them...

Offline DHampton  
#10 Posted : Wednesday, January 4, 2012 1:41:25 AM(UTC)
DHampton


Rank: Member

Reputation:

Groups: Registered
Joined: 4/18/2011(UTC)
Posts: 78

Why buy from best buy when small things such as cable are as much as 400% cheaper and other bigger things such as video cards 200% cheaper. Really only good when you need something right away. Unless they completely revamp they will eventually go under. Dont know how to change but maybe do rentals repairs teach classes for first time comp users.

Offline kryosynth  
#11 Posted : Wednesday, January 4, 2012 5:05:04 AM(UTC)
kryosynth


Rank: Member

Reputation:

Groups: Registered
Joined: 1/4/2012(UTC)
Posts: 1

Ha yea..bullbuy....

http://www.youtube.com/watch?v=m3ipcRJjxOY&context=C340603cADOEgsToPDskI3aG3Q0_-cV56rJkohfn-N

Offline robinclifton  
#12 Posted : Wednesday, January 4, 2012 8:24:41 AM(UTC)
robinclifton


Rank: Member

Reputation:

Groups: Registered
Joined: 1/4/2012(UTC)
Posts: 1

I hope not! Where else am I going to get appliances for a reasonable price??????????

Offline digitaldd  
#13 Posted : Wednesday, January 4, 2012 12:05:42 PM(UTC)
digitaldd


Rank: Advanced Member

Reputation:

Groups: Registered
Joined: 7/3/2001(UTC)
Posts: 3,027
Man
Location: United States, New York

Thanks: 5 times
Was thanked: 7 time(s) in 7 post(s)

Its funny I would actually miss best Buy if they were to go away as it is now there are so few stores you can go into and actually see and checkout new electronic merchandise. Somethings you just have to see before you buy. A neighbor bough a nice 65 inch TV for Christmas through Amazon had he looked at a 65inch TV in Best Buy he would have known the thing wouldn't fit through his door.

Offline realneil  
#14 Posted : Wednesday, January 4, 2012 1:50:10 PM(UTC)
realneil


Rank: Advanced Member

Reputation:

Groups: Administrators, Moderator, Registered
Joined: 4/8/2009(UTC)
Posts: 8,695
Man
Location: Shenandoah Valley, Virginia

Thanks: 2 times

digitaldd wrote:
had he looked at a 65inch TV in Best Buy he would have known the thing wouldn't fit through his door.


That's what they make a Sawzall for. [:)]

Offline Der Meister  
#15 Posted : Wednesday, January 4, 2012 2:39:47 PM(UTC)
Der Meister


Rank: Advanced Member

Reputation:

Groups: Registered
Joined: 11/23/2004(UTC)
Posts: 6,381
Location: United States, Las Vegas

Thanks: 1 times
Was thanked: 1 time(s) in 1 post(s)

When I worked for them a few years back I figured the same after seeing how the business is run. 

Users browsing this topic
2 Pages12>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.