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Improving Best buy

Status: Acknowledged
by on ‎07-18-2012 08:13 AM

I have a few more ideas on how to improve and strategies BB market.

 

1. BB investing a significant amount of $$ towards the GeekSquad which I think is awesome, I think it would be great if BB would offer custom computers to the consumer. Just like Dell does, why not BB do the same thing. GeekSquad could  do all the customization themselves.

 

Now that would put BB in the advantage vs. Amazon, New Egg and other online resellers.

 

2. Why not (just for a few years and see where it would go) create a program in which BB would offer Better pricing for the repeat TV buyers. For example, a gadget person buys TV every 2-3 years, just so he could keep up with the new technology, well, TV's aren't cheap, so It would be awesome if BB would guarantee 20% OFF for the next TV bought from them after 360 days of purchase.

 

It would significantly increase the sales in the first year, it would give BB an edge in the market and make shareholders Happy while BB is figuring things out. BB could create a CRAZY buzz about this and market would go CrazYY

Status: Acknowledged
Thanks for the input on this idea.
Comments
by
on ‎07-18-2012 08:25 AM
I want to add another thing, BB has a trade in program where they give a customer a gift card, well why not instead of giving a gift card offer customer cash for old TV if they purchase a new TV and create a USED as is market, allowing folks to buy used TVs
by
on ‎07-18-2012 08:30 AM
I think the trade in program would bring many new customers and by offerin them 20% off the next TV it would keep the customers locke in, they would have no reason to buy another TV from other retailers when they ready to purchase, but it would have to be 360 days later, otherwise it would bring too many resellers attention.
by
on ‎07-18-2012 08:38 AM
Just want to add another Thing about trade in, create a program ONLY to accept TVs that were purchased from BB, otherwise folks would trade in their junk
by
on ‎07-18-2012 09:25 AM

From a business perspective...I'm not sure how profitable that would be.  Very few TVs have a 20% margin in them and most are practically always running "at cost" or possibly below cost.  Not to mention that with some manufacturers going to universal pricing on certain models, a lot of the desired units would be exempt from the discounts.

 

Build your own PC isn't a bad idea.  Definitely nice for those who want a good gaming PC or something for photo/video editing.

by
on ‎07-18-2012 09:27 AM

Well, 20% OFF was just a rough example, the idea is behind was to figre out a way to lock the consumer in. Kinda like what AT&T did with the iPhone

by
on ‎07-18-2012 09:30 AM

Not to mention the trade in would offset the cost, once it sold on the Used market.

by Senior Social Media Specialist Senior Social Media Specialist
‎07-20-2012 02:57 PM - edited ‎07-20-2012 02:57 PM
Status changed to: Tell Us More

Thanks for the ideas. I can see how offering a custom computer option would be great for our customers, but I'm not sure how many would take advantage of this option vs. the cost to implement/staff this option.

 

Your second idea sounds a lot like our BuyBack program that we recently discontinued. I have to assume the BuyBack program was just not cost effective.

 

I would like to hear from other customers and employees on this.

by
on ‎07-20-2012 03:25 PM

That I do not know since I don't posses the numbers. I am looking at these things as a customer, and if I go to BBY and see (or online) a laptop that I want, but I wish it just had more RAM or larger HD, I would go look somewhere else, but if I had an option of customizing it, I would pull the trigger. Online stores like Amazon, new Egg, don't have that, it would give BBY an edge.

 

As far as the buyback, I also don't know the number, perhaps it is not the most effective idea, but if you read my original idea about offering REPEAT customer a discount for the future product (to get a discount a future product must be bought at least 1year from the original date), it would keep the customers LOCKED in. A year from now, I would have no reason to go to any other retailer b/c BBY offered me say 15% off.

 

Now that program could be called LOYALTY program or TV LOYALTY (just for the TV's), and by doing so, it is almost guarantee for a REPEAT business.

 

 

My other suggestion was in another thread that was deleted, it is having BBY people to come to YOU and exchange the items that the customer wants to either RETURN or EXCHANGE.(for items over $800)

 

For example, I bought a TV and now I want to upgrade, I call BBY, they set it up, they come to me, they take the other TV and replace it with the NEW one. Even if customer changed their mind, BBY people come, take the TV and return the customer money back.

 

Amazon cannot do that, you have to return the TV first, wait till they would receive it, then they would inspect the TV for damages (god forbid if any) and only then you would get the money back so you could buy another TV.

 

by
on ‎07-20-2012 03:29 PM

you see the BBY can only iprove in 2 areas Price and Service, well, maybe BBy can't beat AMAZON on the price, but they sure can beat on the service!!!

by
on ‎08-28-2012 07:33 AM

Watched a BBY comercial about SHARP TV and how BBY would come and exchange if it doesnt work out, the problem witht that comercial is it very subtle.

 

 

 

THEY NEED TO MAKE A BIG DEAL OUT OF IT !!

 

something like, THATS RIght, WE came to YOU!!!!!

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