Add Product

Search Results:

Best Buy IdeaX

By submitting an idea to IdeaX, you agree to our Terms & Conditions.

BBY Strategic Ideas

Status:

by on

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:

Thanks for the idea

Comments

- edited

Status changed to:

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?