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BBY Strategic Ideas

Status: Acknowledged
by rapiksaat on ‎04-18-2012 05:26 PM

1) New strategies for home appliances
- people rarely buy big white appliances online
- strike exclusive distribution deal with low-cost, decent-quality brand (e.g. Haier)
- establish Geek Squad for home appliances
- strike a deal with manufacturers to assume manufacturing warranty with in-house Geeksquad for discounted prices
- sell option to replace the same appliance in the future at discounted prices (e.g. for an appliance with 10-year expected life offer 30% off if replaced after 3 years or 50% after 5 years - option expires after 6 years)
- offer long-term leasing (e.g. recurring $400 for every 5 years for a worry-free lease of washer and dryer)

 

2) Send solicited or insolicited bid to distribute all possible home appliances in new property developments, especially multi-unit apartment buildings.
- each branch has a person/team to monitor and pursue opportunites

 

3) Capitalize frugal innovations
- send a team to Dragon Mall (see the Economist this week) to identify 10-15 less-than $30 items for a special corner in store
- not exclusively electronics, think about emulating Sharper Image store
- could change seasonally so that people have a reason to stop by stores

 

4) Sell refurbished electronics with limited warranty


Disclaimer: Use any of these ideas at your own risk.


 

Status: Acknowledged
Thanks for the idea
Comments
by Senior Social Media Specialist Senior Social Media Specialist
‎04-19-2012 09:43 AM - edited ‎04-19-2012 09:44 AM
Status changed to: Tell Us More

You certainly do have a lot of ideas to help our business, and I would thank you for sharing them. I should point out that we already do provide in-home Geek Squad service on appliances in most areas of the country, and are always looking at places to expand this service. I can also say that the Geek Squad is authorized by most appliance manufacturers to repair their products under their warranties.

 

The leasing idea is interesting, but I could envision many challenges in implementing this; I also have to wonder what kind of market there would be for leasing appliances. I should also point out that we do sell refurbished electronics on BestBuy.com. Anyone else have anything to add on this idea?

by Senior Social Media Specialist Senior Social Media Specialist
on ‎03-25-2014 04:00 PM
Status changed to: Acknowledged
Thanks for the idea
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