09-23-2020 04:20 PM
I'm an investor whose interested in purchasing Best Buy Stock. However, I always do my due-diligence before proceeding forward with any stock.
The one thing that concerns me is that you have over 2,000 Toy offerings. Which is great. However, you're limiting customers 3 order per day per SKU #; after that qty limits set in and orders automatically cancel.
The Holiday season is almost here. After the Holiday season many toys get heavily discounted. Therefore, my question is why limit 3 orders per sku # on items you have plenty of stock in? Isn't it better to sell them during the Holiday season vs potentially heavily discounting them after Xmas? I completely understand doing that for the SKUs that you don't have enough stock for everyone, but applying this restriction across the board defies business logic.
However, I love that Best Buy is expanding to different categories. But, at least during October through the end of December I would personally remove those 3 order qty limits on skus that you have enough in stock in for everyone; especially in the Toys category as most competitors will heavily discount them after Xmas.
I hope these suggestions will be taken under consideration. I believe these changes among the great stuff you're already doing will lead to beating expectations; every little inch counts.
09-23-2020 10:32 PM
09-24-2020 02:45 PM
I understand that, however, Drop-Ship Resellers should be your best friends; espeically in the Toys Category. The reason is that not many people know that Best Buy sells toys. These Drop-Ship retailers have their own customers, and when their customers receive their shipment they'll see it came from Best Buy. So perhaps in the future that customer will think to check Best Buy first for toys instead of the drop shipper/other retailers.
I've worked with other big-box retailers as well, and after they opened the floodgates on certain items for dropshippers (some categories/items were still blocked) it increased their yearly revenue in the millions. There's no reason I think for toys it should be restricted. People already know for electronics lets go to Best Buy. But when people think of Toys -- they think of Target, Walmart, Amazon, etc. They don't think "Best Buy." However, Dropshippers can definitely help change that.
09-24-2020 04:10 PM
09-24-2020 04:40 PM
I don't follow -- how is it extra hassle? Simply block the ability for resellers to initiate returns. Don't allow re-sellers inside stores. Don't allow large qty. You want customers to think of Best Buy when "Toys" come into the picture. Toys R Us is gone and that's left a huge GAP.
Drop shippers will help with that substantially. Not just from a revenue perspective. You're missing the full picture. It's also from an 'free advertisement' perspective -- exposure to hundreds of thousands of NEW customers. Please don't be close-minded and have an open-mind. I'd take this to the decision makers. Once your toy sales substantially increase you can always block resellers. But 'Near-Term' for the Toys category they would definitely help with increased exposure.
09-24-2020 07:05 PM
09-24-2020 09:52 PM
Best Buy has been around for decades, I think they know a thing or two about their business. If what you're proposing was beneficial to them, I'm sure they would be doing it already. And if you really look at things, Best Buy for the most part IS a reseller, why would they want to move back into a middleman position and involve someone else to share profits with?
09-25-2020 01:21 PM
I believe you both are mis-understanding me. You wouldn't be giving resellers price discounts or any perks. They'd get the same pricing as a regular customer. They'd shop on Bestbuy.com just like a regular customer. The only difference is they can place hundreds of orders per day in the "Toys" category (each order is 1 qty going to a different customer) without their orders getting canceled.