FORBES: Why Best Buy Is Going Out Of Business...Gradually

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Stuxnet

Diamond Member
Jun 16, 2005
8,403
1
0
This is funny, because it was only a few years ago any number of online rags were praising Best Buy for their atmosphere. Sounds to me like someone forgot to send out the monthly checks in December.

At any rate, Best Buy is the devil and anyone who buys from them deserves whatever they get in return.
 

SlitheryDee

Lifer
Feb 2, 2005
17,252
19
81
I haven't been in very many best buys, but I never had a bad experience in one. All I did was go find what I wanted, take it to the front counter, pay, and leave. I like it like that. That's the way all stores should work.
 

Texashiker

Lifer
Dec 18, 2010
18,811
197
106
They're not paying enough obviously. They've only got a B- rating after a disappointing earnings report, and they've lost about 1/3 of their stock value since July.

Best Buy needs to hire whoever gives the US government its rating.

That way Best Buy could be trillions in debt, and still get an A rating.

In the past 5 years, I could probably count the number of items I bought at best buy on 1 hand. Three years ago BB had left 4 dead on sale before steam did, so I bought l4d from best buy. I think my wife bought a couple of movies from BB, and that has been about it.
 

Wyndru

Diamond Member
Apr 9, 2009
7,318
4
76
I haven't been in very many best buys, but I never had a bad experience in one. All I did was go find what I wanted, take it to the front counter, pay, and leave. I like it like that. That's the way all stores should work.

Same here, the pricing is usually above what I could pay online, but if I'm in the mall already, I can just stop in and get what I need. It's really the point of B&M, instant purchase ability, decent stock, albeit higher prices.

My concern is more about the lack of competition, not the atmosphere of the store.
 

ultimatebob

Lifer
Jul 1, 2001
25,135
2,445
126
When you think about it, it's our own damn fault that Best Buy has become this bad. Once the other major big box store competitors (Circuit City, CompUSA, etc) went out of business, they became the only electronics store in town in many places. And, hey... when you're the only store in town, you can get away with crap like charging $50 for "premium" HDMI cables and charging $200 to re-install Windows on someone's laptop.
 

Texashiker

Lifer
Dec 18, 2010
18,811
197
106
That only works when you can print your own money.

Doesn't best buy sell copies and printers?

Print off a few billion dollars, get caught, get fined a few million dollars.

*not being serious about forgery. Meant as a joke that other companies break the law and nobody goes to jail.
 

WraithETC

Golden Member
May 15, 2005
1,464
1
81
I was in the Southwestern states during Christmas one year where there were numerous Fry's in close proximity to Best Buy. All those Best Buy locations were like Ghost Towns compared to the ones in Washington State where there is only one Fry's and probably like 10 Best Buys. I think its clear that Best Buy is basically a rip-off, but in the majority of situations is the only option for B&M.
 

IndyColtsFan

Lifer
Sep 22, 2007
33,656
687
126
Best who?

hhGreg has replaced all the Best was stores here.

I've heard HH Gregg is really beating them up badly too, but I don't often go there either. They do have killer appliance deals and will deal with you on electronics from what I recall, however.
 

DAPUNISHER

Super Moderator CPU Forum Mod and Elite Member
Super Moderator
Aug 22, 2001
28,827
21,619
146
I use to be weekly customer at Best Buy spending and buying at an alarming rate. I use to love going to Best Buy to browse, checking their sale brochures and making my weekly trip to buy things needed and not needed. Not so anymore. I’ve had just too many problems with Best Buy.
1) Returns are always a problem. Compared to Costco, which takes back most everything.
2) Their sales people are pushing what they make big commissions on, which is rarely what I want. Usually they don't even know what they are talking about.
3) Their product line is not up to date technically. It took quite some time for them to get SSD drives in, and when they did, they only carried a few.
4) I don’t like the security guard (door Nazi) at the exit door looking me over like I stole something.
5) I once had a problem where they sold me used software by rewrapping it in cellophane and selling it as new. Finally the manager admitted it was a return.
6) Microcenter has a much better selection of the necessary accessories.
7) I’m tired of the sales checker asking me if I want an extended warranty
8) Their rebate program is always difficult and seems like designed to fault the customer. I remember once receiving a card from the rebate company telling me that they can’t honor my rebate because Kansas is not part of the continental United States. I brought that card and product back to Best Buy demanding a refund or immediate rebate. They gave me the rebate.
9) I’ve had too many times that Best Buy would not honor their sales price or conveniently be out of that sale product. Even on the Black Friday, how many times have they had like 6 or 7 of a sale product? Is that reasonable or trickery?
10) Type into Google ‘Best Buy Sucks’ and it shows over 17 million hits.

Overall, I feel like a gerbil running through a maze in their store. Their salespeople (teenagers) appear to have fake smiles and attitudes that are very transparent. I do my shopping now on the Internet, Microcenter, or Nebraska Furniture Mart. I hope they go out of business soon so that other and better merchandisers can take their share of the business.
Good post. And as you pointed out, your experiences are far from unique.
 

Stuxnet

Diamond Member
Jun 16, 2005
8,403
1
0
Still reading through the article (link in OP goes to page 5 instead of page 1......)

It's spot-on. I actually worked at Circuit City way back in the day, and we were constantly "trained" on how to harass customers, not help them. We received ZERO product training, trend analysis, etc. We were only presented with the flavor-of-the-day approach to fucking a customer with a service plan without them actually feeling it. Any product knowledge you happened across was simply the result of an over zealous employee who took time out of his personal life to learn about it.
 

Phokus

Lifer
Nov 20, 1999
22,995
776
126
Microcenter and Frys are far superior if you need B&M. The issue is that they're not nearly as widespread as Best Buy, so that's probably the only thing saving Best Buy for the moment.

I do think Best Buy's years are numbered, however. Their prices are ridiculous, associates are annoying, and the store layouts are generally annoying. I remember a few years ago, you could still find good deals there and it was almost a weekly ritual for me to go there to browse for good deals. Now? I'm lucky if I step in the store twice a year. And yes, Mr. Best Buy CEO, I do occasionally use your store as a showroom for purchases I eventually make on Amazon. Want to stop it? Lower your prices and offer better customer service. Sales tax has zero effect on my purchasing decision when I could still save money buying from Amazon even if they had to charge the same sales tax.

I don't see how best buy could possibly lower their prices vs. amazon though.
 

manimal

Lifer
Mar 30, 2007
13,560
8
0
I've heard HH Gregg is really beating them up badly too, but I don't often go there either. They do have killer appliance deals and will deal with you on electronics from what I recall, however.

HHGregg isnt in that great of shape either. They leveraged their expansion and have burned through cash reserves.

Best Buy has done more to kill itself than CC did 5 years ago. Best Buy has eroded the wages of their employees to the point that a family man or woman cant afford to work there. The company is middle management heavy with 6+ managers who all do the best they can to push whatever arbitrary metric they decide is important that month. If you read the quarterly statements things have not looked good for 3-4 years.
This year they took away the good employee pricing on most items. Last year they took away the ability for their employees to see their families during the holidays. This year they also removed anyones ability to schedule time off regularly...Erode the employee experience the customer experience suffers.
 

MotF Bane

No Lifer
Dec 22, 2006
60,865
10
0
HHGregg isnt in that great of shape either. They leveraged their expansion and have burned through cash reserves.

Best Buy has done more to kill itself than CC did 5 years ago. Best Buy has eroded the wages of their employees to the point that a family man or woman cant afford to work there. The company is middle management heavy with 6+ managers who all do the best they can to push whatever arbitrary metric they decide is important that month. If you read the quarterly statements things have not looked good for 3-4 years.
This year they took away the good employee pricing on most items. Last year they took away the ability for their employees to see their families during the holidays. This year they also removed anyones ability to schedule time off regularly...Erode the employee experience the customer experience suffers.

And everyone complains about the employees pushing the cable package, pushing the extended warranties, et cetera, but it's not that the employees want to be doing this.
 

raystorm

Diamond Member
Apr 24, 2001
4,712
2
0
There are no Frys or even a Walmart here in NYC but you have PC Richard and Son as an alternative to Best Buy. Can't think of any other major electronic outfit here in the city. There is a Microcenter in Yonkers and Long Island but I haven't been to either store yet.
 

IronWing

No Lifer
Jul 20, 2001
69,532
27,835
136
There are no Frys or even a Walmart here in NYC but you have PC Richard and Son as an alternative to Best Buy. Can't think of any other major electronic outfit here in the city. There is a Microcenter in Yonkers and Long Island but I haven't been to either store yet.

You have B and H. Their prices are more in line with Amazon's than BBs.
 

manimal

Lifer
Mar 30, 2007
13,560
8
0
And everyone complains about the employees pushing the cable package, pushing the extended warranties, et cetera, but it's not that the employees want to be doing this.

In fact employees are expected to go trough scripts during every interaction. They have now started to limit peoples hours who dont sell service plans.
 

kranky

Elite Member
Oct 9, 1999
21,014
137
106
Maybe the BB near me is an exception, but I don't have a problem there. Have bought a number of things there in the last couple years. Yeah, they will always suggest the extended warranty, but a simple "No, thanks" puts an end to it. Two returns went smoothly.

Amazon doesn't employ anyone in my town, BB does. So if the price is close, I go to BB.

That said, I have read enough horror stories to know that there are some lousy BB stores out there.
 

CptObvious

Platinum Member
Mar 5, 2004
2,500
1
76
This is just anecdote, but every HHGregg I have been in has been eerily empty of customers. I don't see how they will outlast Best Buy.

I imagine Best Buy will survive because they sell things that people (mostly older folks) continue to buy only from B&M, like TVs, appliances and cell phones. As consumers it's a good thing if BB survives, if only to give Amazon more incentive to offer low prices.
 

Stuxnet

Diamond Member
Jun 16, 2005
8,403
1
0
The reality is that Best Buy will be gone from the face of the earth inside of 10 years, which I believe is an extremely conservative timeline given current trends. Personally, I give them 3 based on this past shopping season.

They need to redefine every single pixel that makes up the Best Buy image. Their employees, philosophy, online presence, online-BM integration, the whole nine yards. Done properly, you shouldn't even be able to recognize them as Best Buy when it's all said and done... not because the name itself is tarnished (although it is), but because that's how much work there is to be done to fix it all.

Now, CC couldn't do it, Blockbuster couldn't do it, and they were less ingrained in their ways than BB (yes, BB is more stubborn and disconnected from its customers than Blockbuster was). I look forward to licking the dried tears from where my local BB's once stood. I have a few anecdotal stories of wanting to kill someone whilst desperately trying to conduct business with BB, and I used to love reading bestbuysucks.com, but now I get to focus on their karma rather than reliving the rage of myself and others. Yum.

As far as HH Gregg goes, I'd take them over BB, but shopping there still sucks. Their atmosphere is downright depressing and they run a skeleton staff. I give them a few more years than BB, mostly because they'll get BB's market share when BB bursts into flames.
 
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