Video rentals are dying. Netflix, Hulu, and Amazon amongst others stream and rent online tv shows and movies. The ability to find and watch a single film you want is limited to local video stores, as Blockbuster has fallen victim to the free market.
Best Buy has an opportunity to take advantage of the situation. By creating a rental service for movies, you would offer a solution to those that wish to watch specific films that are not being streamed on their site of choice.
My proposal is that Best Buy set up an online rental system that can deliver rented videos to customers, as well as the ability to rent movies at thier physical locations. After a customer has rented a movie, they could then be offered the opportunity to keep the movie by buying it a reduced (from store) price, via a function on the online rental site. This feature is intended to move more products than Best Buy currently does, creating additional revenue.
Best Buy already has the supply chain and physical locations to support a rental system. The main barriers are acquiring the specific licenses for the movies, setting up an online selection and ordering system, and negotiating a favorable deal with an appropriate delivery service.
The key idea to understand here is that by expanding Best Buy's potential avenues of income, and bolstering those that currently exist, the store will remain competitive and forward thinking.