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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.
This is primarily for the CEO or his staff.. I have read in various news releases, and there are many, that you are encouraged to implement operations that will emulate the new DIGITAL age. What these news releases fail to remember is that any successful company has implemented first of all policies that address the basics of retail sales: customer service, product availability/knowledge, and price. People shop at AMAZON and others primarily because of product availability and.price. They come to your stores because they can see the product they are interested in, ask questions and generally satisfy themselves regarding their intended purchase. Then it's off to the internet. What to do?
1. Work towards having legislation implemented that would require any products purchased on-line to be taxed at the local rates. This will help reduce the price differences.
2. Reduce the inventory in your stores, but have immediate access to the various products to be able to offer quick shipping and delivery. Increase the range of products, but limit the number of each product in the store, this will help keep inventory costs at a minimum.
3. Offer the "lookers" a coupon or such that would honor a competative price for a limited period.
4. Have "teams" ready to help customers who receive the items, but are unsure or incapable of assembling and/or installing them. A strong selling point.
As a former strategy consultant for a large Atlanta based retail consultancy, I can see a real potential for BB and Lowes to form a marketing/sales partnership. Lowes has been struggling as has BB with market conditions, and BB would be a natural to manage a smaller footprint consumer electronics/appliance store with Lowes. Lowes gets to offload some of its overhead costs, while taking advantage of BBs supply chain on the appliance side. There also may be some synergies with the on-line operations to benefit each other.
I like both companies and have been a good customer of both, although less in the last couple years as service and product availability has faltered. Both companies can continue to be successful although through revenue growth and not from further brick and mortar expansion. The solutions are out there if you choose to change.
Lots of times I see steelbook/ironpak cases for Bluray Movies and Video Games come out for other countries and wish they would have come out here in the US. As soon as I saw the one for lion king and pirates I bought them. Maybe it would help to boost movie and game purchases. I would have bought the other Disney movies if I had known they were coming out here in the US. I know Video games are more studio specific for collector's editions and stuff like that , but it would be really awesome if we didn't have to shop from futureshop in Canada or Amazon in Europe to get these steelbooks/ironpak. Thanks for considering.
So as a Best Buy Employee from the moment I have joined, I never stop finding myself creating things that not just have benefited my district but my store.
With the great success of all my ideas, I've had a primary focus of the customer end of our business. Its what drives me. However this idea, isn't something I can start at my store level like everything else. It pretty much has to come from above.
My Idea is the emails to customer about weekly deals. The concept is that we tailor our emails to the customer and provide services based off that purchase.
Similar to Apple's and Amazon's Model, we have what they don't. Solutions. For Ex.
I purchase Macbook Pro at Apple Store. I am sent an email specifically tailored to my purchase with info and start guides about it.
If we followed that model we could better achieve customer satisfaction not just online but instore with these emails providing information and what other customers have bought with it and quick guides we have on our bestbuy.com site. This can go hand in hand with tablet video trainings we have when some one buys a tablet. (Makes sense doesn't?)
Following off that Amazon's great model is its special deals. However Best Buy won't be able to match some of those offers and lets face it. However If we tailored customer purchases with deals they could get for their product in an email. That, would be a great benefit for the customer.
I don't shop for TV's. So when I get a "Great Deal on TV's". Frankly, it doesn't tailor to my benefits. However sending me emails about deals on External Hard Drives and Flash Drives. Well then as a customer I would know more deals for something I would want.
Problem with our current model is that its generic. That sucks. If I treat customers I interact with a unique tailoring to what they need then why not their emails?
Bottom line, my proposal is we change our email delivery system not by generic email's but by purchases and services based off the products. Even more importantly services.
Tech Support for a purchase of 2 PC's and a tablet and it isn't on the reciept? Either it wasn't what a customer wants or they didn't understand its great benefits, regardless giving them the option to see their choices is us as Best Buy saying " We care, so heres how we can show you"
Just took the survey about naming your new center section of the store. Thought all the names you proposed sucked big time. Most of the names evoked images of other places or things - TV shows, kid play places, NYC bar, etc.
And what's with the color blue references? That's certainly not the color I think of when I think of Best Buy. Yellow or black, both from the tag and black also from the geeks attire.
So, how about keeping it simple? Here's some ideas.
It's the center of the store. Centre combines those. THE CENTRE easily defines the location and the concept.
It's an island. THE I-LAND is certainly instantly recognizable as a techno-now term. Yes, it's associated with Apple. But so are you to a degree. Will Apple call out their lawyers.? Most definitely. Will that bring you mucho publicity? Undoubtedly. Make 'em sweat trying to claim exclusive rights to the letter "I." Your fighting slogan would be, "Apple doesn't own "I" just 'cause they want to own "U." After all, this is the company that had to pay the Beatles for the right to use the name. And even after that, they would up in litigation with the Fab 4's firm over their alleged infringement of that agreement.
It's where you go to gain knowledge about technology. And when you get there, you'll be in THE KNOW. Only thing I don't
like about this is the homonym with "NO."
It's where you go to get the latest buzz. THE B-HIVE incorporates both the main letter of your name and associates your logo colors with the black and yellow of bees. This could go wrong, though, if the geeks aren't up to their game and consumers start saying, "I got stung at the B-HIVE." Counter this by placing model-quality girls at the counter. Call them the Best Buy Honeys. Their boss would be known as "the queen bee." The guys would be "drones."
A lot of places like iTunes and Blockbuster allow people to pre-order things they want before they come out. Actually, for Blockbuster, you get to add stuff to a queue because they allow you to rent online, so you can basically put movies that haven't been released yet into a queue and they will be sent out when they are available. I wish Best Buy did this for music and movies as well because then people can order them ahead of time without having to wait for them to come out.
I'd like to see a product classification for products in the store. The placards in place now make it very hard to compare products. I think a classification based on user knowledge would be a nice feature for Best Buy. When shopping for a product, your knowledge of that particular "area"(tvs, computers, cameras, etc) would be separated into Novice, Intermediate and Advanced. Novice labeled products would represent more affordable products that don't have all the latest and greatest features. Honestly, a 70+ year old couple comes in to buy a tv. Do they need a 60", LED, 3D, 240Hz, Interent tv? No. They just want a tv. So they go to the section with products tagged Novice. These products would be more simplistic to operate and have less features but would be more compatiable with the customers that don't need a Ferrari to go to church 1 block away. You could always sell warranties and Geek squad support to those users to further ease their minds. Most of the time you want to up sell, I understand that, but there is a large demographic of people that know what they basically want.
Speaking of user knowledge, it would also be nice to see some classes or seminars or whatever you want to call them at least once a week at stores. Have them on Saturday afternoons where you educate your customers on all the technology involved in each product area. Have a seminar on tvs. What is the refresh rate? What are my options for 3D? What are the differences in LED and LCD? How do adjust my tv to the right levels? Inform the customers that don't have the knowledge so they want to buy the products with more features. It's also a great opportunity for Best Buy to bring in manufacturer reps to sell their products. Give Best Buy customers the opportunity to see the latest and greatest from manufacturers first, before they hit the market. Have the reps educate your customers while they promote their product.
So I find myself in need of a new computer and sadly I am no computer whiz. While searching for one I find that most brands are names I have never seen or heard of before and that the features or specs are an alien language to me. I imagine I'm not the only one so I would like to suggest something like a search engine for finding the computer that is right for me. By indicating the kind of activities I use the computer for, the search results would indicate what models or brands would fit my needs. I think many people who, like me, do not have much knowledge about computers would find this helpful so that they can buy a computer that is right for them. Not a very expensive one with features they may never get to use or a less flashy model that doesn't satisfy their needs.
I could ask a friend, an employee in a store, or even read about it in various internet articles but the convinience of being able to do a search for it here would be more efficient and would save a lot of time.
Best Buy is stuck, they are trying to do to0 many things. They need to simplify. They have what it takes to beat amazon, new egg, and other online retailers but they are using them incorrectly. There brick and mortar stores need to become shipping warehouse that allow for customers to still come look around. Shipping should be near free for all customers with a best buy within 30 miles. You could use local hot shots or train current employees. Set up self-checkouts for people buying media and quick buys. Focus on hiring persons with a background similar to that of geek squad. Focus on "wal-mart" business plan, mark all products at the minimum mark up for a profit, plan on selling more at a lower price, have a better social media and viral plan. People are going to miss you when you’re gone; you need to remind them why. Make all of your inventories available (and updated daily) on places like google shopping and your own website. Bundle. Make sure your weekly sales are making it on sites like slickdeals.
Since the Heet Wall now has so many holes now due to the fact our tv selection is dropping in every store, I think I came up with a great idea to both fill the holes and to get more info out to the customers. I have spoke to some Managers and Employees and they think its a great idea. My Heet wall now has over 10 holes on it ,most tvs are 40" to 46" so its a big hole making us look like we are going out of business. Why not have signs ( Finance deals, GSBT- what it covers, mounting and install deals, Quick facts etc..) that should be 40" in size and look like a TV and have them HANG in place just like a tv? You could make it kinda look like a TV set with info on the screen, thick cardboard would do the trick and the customers would really see them NOT like the 8x10 signs we use now. I hope this makes since but sometimes I have a hard time trying to get in idea to come to life by sending emails. I think our Finance deals are the key and they need to be out where the customers sees them and I know that would be a huge deal. If you have any questions pls email me, thanks
I'm a longtime Best Buy customer but honestly I usually only buy things after I've done my research elsewhere and know the specific item I'm looking for when I visit the store or BestBuy.com. Your website is horrible to navigate and lacks sufficient technical detail and filtering ability. For instance, I'm currently shopping for a laptop to support my photo/video hobbies but I can't filter my search in any logical manner for the features I'm looking for (screen resolution, for instance). Instead I'm stuck paging thru 300+ laptops and opening each to find the specs, which many times are inadequate. If you want to see an example of optimal website filtering/navigation (both mobile & regular internet) see bhphotovideo.com. In my opinion, all internet shopping should have their level of technical detail & user-controlled filtering. I really want to buy my new laptop at Best Buy but you make it really hard to do that.
i want to creat my own dslr package deal. you should let me get free to creat it. for example. i want to buy canon eos 7d+15-85 mm+70-300mm+50 mm 1.8 but i have to buy them seperately because you dont offer that package. you can see my package and offer me a deal on this package.
I just got the e-mail letter from Brian Dunn regarding the new benefits for Reward Zone Silver members. The free expedited shipping is pretty sweet, but the rest is fairly uninspiring.
How about enhancing the price match policy to include (qualified) online competitors like Amazon, Newegg, Staples, Office Depot, Apple, Dell, CDW, Walmart, Buy.com, and TigerDirect?
I know I'd spend many times more than I do now at Best Buy if you were willing to match even some of those.
I recently bought a product from your website and chose in store pickup as my delivery option. According to the email telling me my purchase was ready for pickup I need to bring with me, "The order number listed above - or a copy of this e-mail". In order to format a print out the email correctly I had to highlight the correct portion and then print preview and select the highlighted portion only. Even doing this I was not able to print out the entire email which I wanted to keep for my records. Could you please add a button that would format the email for printing and make it easier to comply with your directions.
While I am a frequent shopper at Best Buy, some other game shoppers may not be and many of those people may not know that your stores now sell pre-owned games. Aside from a small section in one or two of the circulars since the inception of the used game/game trade programs at BB I haven't seen very much marketing regarding it.
If you guys want to try to take a chunk of Gamestops' business away you're going to have to do an advertising blitz to get the word out. However, this may not help due to the disproportionate numbers of some games stores are being shipped back after an apparently lengthy processing cycle.
I've noticed 7-10 copies of some older PS3/PS2/360 titles that have been sitting on the shelves since they first arrived 3-4 months ago. They include copies of Two Worlds II for PS3 and Enter The Matrix for PS2.
Unfortunately another thing that may be lagging behind is price drops on these games and even if they are implemented quickly the price tags are not always changed on the products themselves.
Moreover, Best Buy really should get their lawyers looking at how exactly Gamestop skirts local pawn laws and is able to put out traded in products immediately after taking them in. I say this because the one month or MORE turnaround time from when items are traded in till when they are finally shipped back out to stores to be resold is hurting pre-owned game sales just as much as the lack of marketing dollars being spent on it.
I'm a member of several different gaming/deal communities and on each there were reports by the members of using copies and scans of the March @Gamer coupons. Not to mention some users on SlickDeals reported having the cashiers allow them to use only the SKU's from the coupons without having to present or surrender the physical coupons(which some of them didn't have in the first place).
I'm sure such fraudulent use of the coupons and SKU's from them will only lead to the deals being lessened or eliminated due to such abuse if it were to continue. This is why my suggestion is to print the coupons on the same type of reflective security paper that I believe was used for the Gamer's Club Unlocked unlocking coupon that was mailed to people who signed up in store early on in the program. By using such paper for the coupons it should eliminate the scanning and copying of the coupons that was reported repeatedly on sites such as SlickDeals as any attempt to scan or copy the coupons should produce copies that say VOID across them due to the reflective paper.
However, the cashiers working at each Best Buy store would also have to be instructed to not only take the coupons with each single purchase(as some apparently are not), but also what to look for in regards to an official coupon and how to spot a fake. Moreover, some cashiers have been apparently entering in the SKU's from the coupons without the customers actually having the physical coupons on hand. This was because four of the coupons from this month(Batman: Arkham City, Bulletstorm, Mass Effect 2 and Rage) were all scanned into a site called the KeyRing App, thus further facilitating the fraudulent use of the coupons.
Anyway, this is my proposed solution to stop the loss of magazine and Gamer's Club Unlocked subscription sales by making the coupons unique and easily recognizable as legit versus their scanned/copied counterparts. Hopefully by implementing this idea Best Buy can cut down on the fraudulent use of these coupons and keep these amazing gaming deals coming for months(years) to come.
What's up BB!!!
Long time fan/customer here.
Alright, down to business...
I believe there are several things that can be done, in addition to what you guys are already doing (well, for the most part).
But first. INCREASING trade in credit is not something you guys should feel pressured to do...Gamestop on average, already gives people less...and their credit can only be spent on the limitedness of what Gamestop carries. AT LEAST, you guys have more than just GAMES to spend our credit on.
For sure, it would help to have more attractive trade deals. I personally come when there is an extra boost of about 30% or more when I trade in games w/o having to pre-order....(simply because I don't want to pre-order a game, BUT the pre-order specials are really good).
As for another other deal promotions aside from trade offers, you guys are banking it really well. (Keep in mind, I'm comparing you to the only real competition to you, GAMESTOP; GS). Gamers now a days are trying to hit the best "value for my games" spot. GS is only relevant because it's been around longer, and quite frankly, people are still unaware you guys do trade ins...and not just games, but other electronics. YOU EVEN PROVIDE A TRADE SITE WITH ESTIMATE CALCULATOR!!! With GS, you lucky if your phone call isn't received while busy or with attitude..and GOOD LUCK getting trade values over the phone LOL.
Listen, the path to owning the TRADE IN side...is not just marketing or expanding word that you guys do this...but you really need to lift the policy (in A LOT OF BB STORES) of having to provide a RECEIPT for the games your going to trade, providing that they were bought from a BB store, ONLY. This is where you alienate your potential to blow "you know who" out of the water like the "you know what" they really are. I dare say, MILLIONS & MILLIONS of gamers don't keep their receipt....heck, CUSTOMERS in general, don't keep receipts!!!
Sticking to your guns on this, not only turns away trades, but it keeps your "used" game library very minimal...and I mean MINIMAL. And with that small used game library, it keeps away customers too.
Your GAMER magazine is great...I don't care what other may think, but your the only game magazine...and I will say this underlined; the only magazine by far to offer GREAT coupons with EVERY SINGLE ISSUE FOR ONLY 15 DOLLARS?!!?! I say this in conjunction with the "trade/used games" because you have great coupons for used games as well (not just for new...thank god and god forbid if GS did that lol), but what's a gamer like myself to do with these coupons...if there are BARELY and good USED GAMES TO PICK FROM?!?
Another thing, your gaming sections have looked really bad/sloppy. I come in on a week day (Mon & Wed mostly...after work) it's BARREN. And no excuses...the weekends it should be packed, or faced/leveled...something, but it looks bad too (I'm speaking of 4 BB's in NY) Your gaming section has to, at the very least...look attractive. Then the next step, is actually putting games on display that make sense.
Example...for Wii (let the hating begin). You can have you kid/family section, no problem...heck, have a used game section too, np, and of course the budget titles. But the core section, the games that don't go in the sections I just mentioned...there is nothing?! Now, it can be, because Wii titles, don't move in a certain store...no problem...so make a dummy case and display it...order it to be picked up in store for the customer. Don't try to spread 3 to 8 facings/displays of a Mario title for the sake of Mario? LOL, that's the worst thing you can do. You need to display the titles that a true gamer would play...things like; Metroid, Legend of Zelda, Resident Evil, Sin and Punishment, Tatsunoku vs Capcom, Red Steel, COD, Final Fantasy, Fire Emblem,...I can go on too. But the same idea across for all platforms. It's like, what used to be a large selection of new titles at BB, are watered down to "left overs".
And if "left overs" are a result of no sales...here, you guys should definitely hold some kind of gamers club tournaments, or gaming sessions exclusive to you unlocked members...or maybe a proposed 3rd level??? (wink wink). GS has completely stopped doing this. They stopped the "connection" they had with their long time gaming customers. What was once a hub and social spot is not a straight forward "in and out". No interpersonal nothing...ask some customers in GS as an undercover customer yourself...they'll tell you GS has changed a lot. YOU CAN CAPITALIZE HERE.
BB has the space, and you sure as $%& have the staff (whether with full pay roll or not...GS barely has the appropriate staff numbers...2 at most lol) I'm not saying to hold these things religiously either...but maybe monthly...every qtr...promote a special event...intertwine it with deals and promos..and of course...prize...make it store credit...keep the money within BB. And trust me...BB credit of $50 is better spent in BB then $50 credit from GS. And if not tournaments...have like, advance screenings of movies about to be released. Give like 5 min teaser or etc, and do the same, throw in deals/specials.
All this of course, can't be done without proper staff.
I don't know the hiring requirements for BB. But I remember what is was for GS, and you HAD to be fully knowledgeable about games. With BB, they're not that knowledgeable....for example...and without being "biased", I myself was trying to convince my friend to not buy the PSP Vita, at the moment, till it excels. Foolishly, he and a BB associate were talking and speaking of how well it's doing and even finally beating the 3DS. ARE YOU KIDDING ME? I corrected to both of them, the associate asked if I worked at a game store...I said I used to, but it doesn't mean, because I work at a gamestore, I would know things like this...it means I would "have" to. Information like this is available on the web. And just in case, the 3DS trumped the sales of the first DS (which trumped the PSP)....PSP is beating...easily the PSP Vita. Simply mathematics.
Your game staff should be knowledgeable of the games they themselves are trying to represent or sell. It's a huge turn off when they don't know nothing. Like when a family comes and ask what good "pure family" games are available on PS3...they quickly assume throwing the move at them is an automatic win...come on!
This is it for now. If you are curious why I had so much to say, or what to ask for additional ideas...hit up my email. But most of all, thanks for allowing me to share my idea with you.
BB ALL DAY!!! Woo!