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Best Buy UX Lounge - "service" positioning

Status: Tell Us More
by on ‎08-17-2015 05:09 PM

I was disappointed when I learned recently that another Best Buy store has closed in my neighborhood (store previously located at Novi road, Michigan).
When thinking about possible paths for the company to differentiate itself and strive under the competition of "virtual" companies like Amazon I came up with this idea of launching a branch of BestBuy called UX that would offer 2 options:
Lease one of BestBuy's offices in a commercial building and use any item from your stock to experiment advanced technology. The company could offer for instance 1/2 day, weekend, week, or monthly UX packages.
Lease any BestBuy UX equipment for similar periods as described above to be used by the consumer somewhere else.
I say that because this could improve overall sales of the company through leasing rates and increased purchasing rates after enabling enhanced user experience. This could also help by positioning the company towards the "service" business and still leveraging what the company can do best today: a "brick-and-mortar" dream place that offers the best experience to consumers that are passionate about electronics. I wanted to share this idea because I really admire your company.
Status: Tell Us More

Thanks for the clarification on this idea. With the increased costs in space and inventory I highly doubt we would put this idea into place. Would anyone else like to see something like this at our stores?

Comments
by Senior Social Media Specialist Senior Social Media Specialist
on ‎08-17-2015 05:54 PM
Status changed to: Tell Us More

I guess I'm not completely sure what you are asking for. Are you asking to be able to lease a store in able to use the stock in the store for a set amount of time?

by
on ‎08-17-2015 09:43 PM

Hello Allan,

Let me try to explain the idea:

BestBuy UX (User Experience) stores would offer all technology products just as a regular store. The difference would be that the same building would also have attached "UX areas", offering private rooms that could be leased together with equipaments from the store. Examples on how this could be useful:

  • As a temporary office: I want to work on the weekend (or even for a longer period if I'm traveling for instance) but my home or place where I'm staying does not offer the perfect conditions for that. So I would visit a Best Buy store and lease a modern office and all related high-tech equipments to be used for a certain period. At the end of the experience I would have the option to buy any of the equipments or return those to the store.
  • As a place for small gatherings: I would invite a few friends to meet at a Best Buy UX store where I would have a private TV room reserved for me, with the latest technologies in 3D TVs, video games, sound systems or similar equipments of my choice (to be selected from a list with the respective prices).
  • As a place just to try state-of-the-art electronic equipments: I would rent it for an hour to have the opportunity to really try some nice equipments of my choice without having lots of people around. Maybe with a Starbucks in side I would have the opportunity to buy a coffee, lease a small room for 1 hour and some nice equipments to have fun.

The reason why I suggest that is because nowadays is not really possible to try new equipments and the environment at the stores is not very favorable for that. If you create customized experiences the users wouldn't have to buy things just for trying and then returning an used item without generating any revenues for the company nor the most intense experience.

In addition to that, Best Buy UX would offer the option for users to lease equipments with the option to buy at the end of the lease. For instance, I really want to buy a SamSung Galaxy Note but it's too expensive for me to buy it just for trying. I don't like to buy with high risk of returning and no stores offer me the right environment for really trying it. So I would lease it for a week, try it in many different circunstances and then either buy it for a cheaper price then a new one or just return it. It would be very similar to what people already do nowadays but Best Buy would at least book some revenues from the lease period.

 

Please let me know if the idea is clear now.

 

Thanks,

 

Rafael

by Senior Social Media Specialist Senior Social Media Specialist
on ‎08-19-2015 12:06 PM
Status changed to: Tell Us More

Thanks for the clarification on this idea. With the increased costs in space and inventory I highly doubt we would put this idea into place. Would anyone else like to see something like this at our stores?

by Emerging Expert
on ‎08-19-2015 09:09 PM

The first part I think is what we call a Hotel space.  There are places like that around where I live.

 

The second part I think would be sound for a meeting space but one would not need the games.

 

The third part is kind of like what the Magnolia stores currenly offer.  The one near my office has some nice chairs in front of the Best AV gear.

 

I like a lot of your ideas here but I think it would be a very cost ineffecitive use of floor space.  If those spaces could be rented out for 60% of the business day, every day that would be a different story.  Then another issue could be the lost revenue on the items used in the rental.  Open Box items are a problem to get rid of, especially on higer end items.

 

It is definatly a better experience at BB than it is at Walmart or Target.  Normally I try to go in during the work day.  My store near my office is generaly pretty empty.

 

However, like the idea of leasing, or renting etc..I don't see this as a good ROI.  

 

On different track but on a similar line I would like to see TV's set up with real programming and not the high quality pre-taped items.  Stores used to have live football games on Sunday's 

by
on ‎08-30-2015 03:55 PM
My perception is that this would actually improve floor space utilization. Best Buy could reduce the store areas currently used for product showcase (that don't generate any direct revenue) and use the available floor space for enhanced user experience, generating lease revenue and increasing the chances someone would actually buy the products that are being tried. In regards to the issue of having to deal with open boxes, I'm pretty sure Best Buy already deals a lot with that based on the flexible return policy without having any revenues from a return product. The lease option could reduce the rate of return w/o revenues. The products that wouldn't be purchased after the end of the lease period could be used in the "User Experience" rooms. Looking only into the floor space costs / open boxes issues is in my opinion not a complete business case evaluation. The company should also look into the additional revenues and, especially, the impacts this idea would have in user loyalty, satisfaction, and differentiation against online retailers like Amazon.
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