Is Best Buy is Going Out of Business?

[JiveGirl14]

Is Best Buy Circling the Drain? | LinkedIn

There have been so many posts in the forum about sales staff in Best Buy telling customers that Playbooks are discontinued (and generally misinforming them about the Playbook), steering people to other products in addition to inefficient or totally absent PB displays. So this article about Best Buy in Forbes caught my eye. Seems the tactic isn't limited to the Playbook.

[Brianflys]

Oh sweet irony...

[dagerlach]

Best Buy (BBY) started to fall apart in Q4 of 2010 and has been diverging from the S&P for a year now. On-line companies like Amazon, NewEgg, etc have had a significant impact on their sales. Can they stay in business? Probably. Are they worth investing in their stock. Nope. I would rather buy RIMM.

[alnamvet68]

I believe it is; the signs are clearly apparent....I remember when Circuit City was gasping its last breath, with a motley crew for staff who knew far less about technology then my Mother did (may she RIP). When it was officially announced they were going out of business, I was not surprised. Best Buy is there already, as far as I'm concerned. I have learned quickly that one has to do extensive and detailed research on a product one may be considering buying before entering the big blue box, 'cause you're not going to get an intelligent or knowledgeable response from the kids that are working there if you happen to have a question.

For my money, I would like to see each manufacturer open up a store in every mall, much like the Apple stores, where they can showcase and promote their product line, and have well trained and knowledgeable staff present to demonstrate with competence the products offered.

Yes, I would love to see a Blackberry store, well stocked, well staffed, and in an environment that is bright and inspiring as opposed to the Best Buy experience which I find akin to going to a greasy Pep Boys store for whatever.

[alnamvet68]

Originally Posted by dagerlach

Best Buy (BBY) started to fall apart in Q4 of 2010 and has been diverging from the S&P for a year now. On-line companies like Amazon, NewEgg, etc have had a significant impact on their sales. Can they stay in business? Probably. Are they worth investing in their stock. Nope. I would rather buy RIMM.

Yes, that's why I do...invest in RIMM that is.

[Economist101]

Originally Posted by alnamvet68

For my money, I would like to see each manufacturer open up a store in every mall, much like the Apple stores, where they can showcase and promote their product line, and have well trained and knowledgeable staff present to demonstrate with competence the products offered.

Several companies have tried. Apple managed to make retail work, but Gateway, Pioneer, Sony, Dell, Nokia and others have tried and failed. Microsoft is also currently trying, and though their stores are clearly not failures they're not setting the world afire either.

[madman0141]

And yes Rimm stock closed with a profit....my 185 shares while small show my support for my 9930 and playbook 64. The upgrade to playbook software is near and BB10 is coming. Buy Rimm stock now and make money. Support our Blackberries.
The average age for a Best Buy employee is 22 yrs old. Can anyone tell me where they got those vast years of knowledge about products.

[poppian]

Originally Posted by JiveGirl14

Is Best Buy Circling the Drain? | LinkedIn

There have been so many posts in the forum about sales staff in Best Buy telling customers that Playbooks are discontinued (and generally misinforming them about the Playbook), steering people to other products in addition to inefficient or totally absent PB displays. So this article about Best Buy in Forbes caught my eye. Seems the tactic isn't limited to the Playbook.

I was shock today...I went in to Staple store here in Canada and notice all 3 playbook are on sale for the SAME price $299...Wtf!!!...Makes me wonder...

[alnamvet68]

Originally Posted by poppian

I was shock today...I went in to Staple store here in Canada and notice all 3 playbook are on sale for the SAME price $299...Wtf!!!...Makes me wonder...

While your observation has nothing to do with the thread, it does point out that Staples is simply pricing the PB to be in line with the SBB sore pricing.

[poppian]

Originally Posted by alnamvet68

While your observation has nothing to do with the thread, it does point out that Staples is simply pricing the PB to be in line with the SBB sore pricing.

Thanks for pointing that out...

[sir.mervyn.king]

Best buy has flopped in the uk...

[grahamf]

Makes sense. Anybody with tech experience will go online. Heck, even a kid without a credit card can go to Newegg (providing his/her debit card is from one of the supported companies).

And those without tech experience will be intimidated by the confusing array of technology. The geek squad is a joke, and useless when the customer is only asking the salesperson.

If Best Buy made it a practise of hiring peope who know what they're selling and/or teaching them how to explain to customers that what they want to buy isn't so compicated as they thought, they would get more customers.

That's why they are doing so bad. Customers may decide to go to a more dedicated retailer (like Gamespot or a Verizon store) where the staff is more familliar with what they're selling. I once went to the appliance section and the guy couldn't tell the difference between a dishwasher and a built-in oven!

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[wcgarette]

Went to Future Shop here in Sudbury last week, and the staff was noticeably uninspired. There is a Best Buy here, but I haven't checked it out yet. Got my PB16 at Staples at the end of November for $199, and the staff there weren't anything to praise, either.

Maybe it's just the state of retail.

[BBMINI]

I can't believe Best Buy has stayed in business as long as they have. I've always thought they have the worst customer service of any retailer except WalMart. And if the also can't survive after Circuit City closed then I guess it shows how hard the consumer electronics retailing biz must be. Personally, I'll be glad to see them go.

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[Rickroller]

Originally Posted by wcgarette

Went to Future Shop here in Sudbury last week, and the staff was noticeably uninspired. There is a Best Buy here, but I haven't checked it out yet. Got my PB16 at Staples at the end of November for $199, and the staff there weren't anything to praise, either.

Maybe it's just the state of retail.

Says more for the state of the country (or countries) than the state of retail imo. Would you be excited to go to work for minimum wage? Or even slightly above? Best Buy employees don't make commision..so where is the incentive? Most workers imo would just be showing up to punch a clock (and that applies to any minimum wage job).

EDIT: Back on topic..doesn't Best Buy own Future Shop as well? So if one goes under..do they both? I personally always shop at Best Buy. I don't ever go in there looking for advice..because I do my own research ahead of time. But I do like the fact that they aren't trying to upsell me "Monster" cables on any purchase simply because it increases their revenue. I much prefer being left alone to browse than have someone trying to push and make a sale on me.