Best Buy News

Best Buy says ‘relax, we’ve got you’

Best Buy has released two new commercials as part of a new branding campaign to show customers that the retailer is there for them, where and when needed. Do you think Best Buy’s new branding centered around its expert advice and bonding with customers will resonate in a substantial way with American consumers?

Will overstocking get retailers through the holidays?

Will overstocking get retailers through the holidays?

Big box retailers are pulling forward orders earlier than normal and aggressively investing in core items as supply chain bottlenecks threaten to lead to empty shelves over the holiday season. Do you see more benefits than risks in aggressively stocking inventories in the current climate?

Best Buy builds a virtual store to assist customers remotely

Best Buy builds a virtual store to assist customers remotely

Distribution centers have taken on a more important role in retail as e-commerce ordering has dramatically expanded. Best Buy is now using one of its distribution centers not just to fulfill orders, but to engage with customers virtually. What do you think of the use of “virtual stores” to provide ways to remotely assist shoppers?

Amazon and its retailer rivals look to set Prime Day sales records

Amazon and its retailer rivals look to set Prime Day sales records

Amazon is expected to achieve a new sales record when its annual Prime Day event is complete. The same could be true for many of its rival retailers that have jumped onto Amazon’s sales promotion bandwagon over the past several years.  How are you expecting results to shake out when Prime Day and rivals’ events are done?

Will Americans invite Best Buy into their backyards?

Will Americans invite Best Buy into their backyards?

Best Buy has benefitted from the stay-at-home trend that developed since the pandemic broke out in 2020. With the belief that Americans will stick with the behavior, the retailer is moving into product categories not normally associated with a consumer electronics chain. Is Best Buy’s push into outdoor living products a keen business move or does it represent a loss of strategic focus?

How fast can stores fill curbside pickup orders?

How fast can stores fill curbside pickup orders?

During the first quarter, over 90 percent of Dick’s Sporting Goods’ curbside orders were ready within 15 minutes, according to the company. Upon checking in at the store, half were delivered to the customer’s car in under 2.5 minutes. What expectations for turnaround times on curbside/in-store pickup should retailers set for in-store workers and customers?

Best Buy puts multi-taskers to work

Best Buy puts multi-taskers to work

Best Buy last week elaborated on a workforce reset aimed at encouraging store employees to tackle more tasks to support omnichannel practices, including delivering packages to homes. What do you think of Best Buy’s strategy of reducing the overall staff count by upskilling workers and increasing the percentage of full-time workers?

Hubert Joly says ‘human connection’ laid the foundation of Best Buy’s turnaround

Hubert Joly says ‘human connection’ laid the foundation of Best Buy’s turnaround

Best Buy looked like a retail chain on its way out of business in the early 2010s. Under the guidance of then-CEO Hubert Joly, however, the retailer turned its fortunes around in impressive fashion. What can other retailers pursuing turnarounds learn from Best Buy’s experience?

Will Best Buy’s customers love its new service and savings plan?

Will Best Buy’s customers love its new service and savings plan?

Best Buy is testing a new membership program that will deliver benefits including unlimited technical support from the retailer’s Geek Squad, exclusive pricing, free standard shipping of online orders, and more.  Do you expect the Best Buy Beta annual subscription program to be broadly popular with the retailer’s customers?

Best Buy sets up its associates to test themselves for COVID-19

Best Buy sets up its associates to test themselves for COVID-19

Best Buy is now offering at-home COVID-19 tests for workers who may have been exposed to the virus in the chain’s stores and warehouses. Should every chain retailer have a similar testing policy as the one Best Buy has established to prevent the spread of COVID-19?

Best Buy is handing out bonuses, paid time off for vaccines and pink slips. Huh?

Best Buy is handing out bonuses, paid time off for vaccines and pink slips. Huh?

Despite all of the positive news around Best Buy’s treatment of its workers, some of the chain’s employees have reached out to RetailWire, claiming the company is being less than transparent about layoffs and cuts in hours.  What do you think the frontline employee mood is like at Best Buy?

Digital gains are changing how Best Buy puts its associates to work

Digital gains are changing how Best Buy puts its associates to work

Best Buy last week laid off some in-store workers and told others their weekly hours would be reduced as digital increasingly drives the chain’s sales growth, according to The Wall Street Journal. Do you think Best Buy’s move to trim in-store staffing is more about adding flexibility, de-emphasizing traditional in-store selling roles, or a bit of both?

What leadership lessons have retailers learned during the pandemic?

What leadership lessons have retailers learned during the pandemic?

In a keynote session at CES’s first virtual trade show, Corie Barry, Best Buy’s CEO, said she believes her role as leader is to create conditions for others to succeed and that’s been a “huge component” behind the consumer electronic chain’s success during the pandemic.  What leadership lessons have retailers learned from the pandemic?

Best Buy shrinks sales floors for a more fulfilling experience

Best Buy shrinks sales floors for a more fulfilling experience

Best Buy has experienced such a great demand for in-store pickup and ship-from-store that it is re-architecting some store locations to facilitate these services — at the expense of the sales floor.  Do you see the reconfiguring of selling space to facilitate pickup and ship-from-store as being a good move for Best Buy?

Has Walmart come up with an answer to Best Buy’s Geek Squad?

Has Walmart come up with an answer to Best Buy’s Geek Squad?

Walmart is taking part in a pilot program to test the viability of offering consumer electronics and technology services to its customers at a fraction of what similar services such as Best Buy’s Geek Squad cost. Is there a compelling business need for Walmart’s tech repair service offering?

Best Buy produces record results doing things differently in the pandemic

Best Buy produces record results doing things differently in the pandemic

Best Buy’s flexible approach during the second quarter led to record online sales and a gain in same-store sales, even though during the first six weeks of Q2 it accepted visitors on an appointment-only basis.  What is your take on the adaptations Best Buy has made and its second-quarter performance?

Best Buy connects strong sales to frontline worker performance

Best Buy connects strong sales to frontline worker performance

Best Buy has made an important connection between its frontline workers and sales performance – demonstrating that taking care of one will ensure good results in the other. Do you think Best Buy is likely to emerge from the experience of the last several months in a stronger competitive position?

Amazon’s traffic is way up, but others are doing even better during the pandemic

Amazon’s traffic is way up, but others are doing even better during the pandemic

As consumers have navigated their way through stay-at-home and social distancing restrictions during the pandemic, a new study says Amazon’s web traffic has soared, but other retailers are up even more. Why do you think Amazon’s major competitors have gained more traffic than it did during the stay at home period?

Do retailers need a chief health officer?

Do retailers need a chief health officer?

Retailers and restaurants should consider creating a c-level position focused on public health to address pandemic-related concerns, according to a new study. Do retailers need to establish a chief health officer role or retain health experts to guide reopenings and prepare for future outbreaks?

Where can robots assist in retail’s COVID-19 efforts?

Where can robots assist in retail’s COVID-19 efforts?

Robots have been hailed for their effectiveness as contagion-proof workers in hospitals and are being seen as a potential solution for retail’s new COVID-19-related challenges. In what areas will robots likely offer the biggest benefit in helping retailers navigate the coronavirus pandemic?

Is curbside pickup just getting started?

Is curbside pickup just getting started?

With scores of retailers introducing curbside pickup and continuing to offer it as stores reopen, more consumers are getting accustomed to the convenience of the service overall. Has curbside pickup become a bigger opportunity amid the pandemic or do you see it as a temporary solution for most retailers?

Best Buy is getting back to business with scheduled appointments

Best Buy is getting back to business with scheduled appointments

Best Buy plans to reopen using a system whereby customers can schedule appointments with sales associates. Do you see Best Buy’s scheduled sales appointment plan as an effective way to build sales by reopening stores while maintaining the safety of employees and customers?

Retailers are going to curbside and delivery. Will they stay that way?

Retailers are going to curbside and delivery. Will they stay that way?

What a few weeks ago were perks that were growing in popularity have quickly become the only way many brick-and-mortar retailers and restaurants can do business. Will retailers and restaurants that have moved to curbside pickup and delivery-only be able to effectively weather the coronavirus pandemic?

Is it time for retailers to move beyond fulfillment and on to experience?

Is it time for retailers to move beyond fulfillment and on to experience?

For so long, omnichannel really was about distribution and fulfillment. Buy online, pickup in-store (BOPIS), ship from store, endless aisle, curbside pickup — to name a few. But what does it mean now? Do you see the need for a new term to replace “omnichannel”?

Best Buy CEO faces alleged misconduct probe

Best Buy CEO faces alleged misconduct probe

Best Buy Co.’s board is investigating allegations that CEO Corie Barry had an inappropriate romantic relationship with a former fellow executive. How should retail businesses govern personal relationships between coworkers, particularly those that include individuals in management?

The RetailWire Christmas Commercial Challenge: Best Buy vs. Big Lots

The RetailWire Christmas Commercial Challenge: Best Buy vs. Big Lots

This week’s matchup between Best Buy and Big Lots may not provide the same level of creative storytelling as previous spots, but each features a unique take on playing to each chain’s strengths. Which retailer does a better job of connecting with its core customers while reaching out to new shoppers?

Free next-day shipping hits Amazon in its bottom line

Free next-day shipping hits Amazon in its bottom line

Amazon’s earnings miss of $4.23 a share in the third quarter, down from $5.75 last year, is being tied to the company’s switch from free two-day shipping for Prime members to next-day delivery. Do you think the math for free next-day delivery adds up to a win for Amazon in the short- or long-term?

Best Buy is ready for Christmas with free next-day deliveries for almost everyone

Best Buy is ready for Christmas with free next-day deliveries for almost everyone

Best Buy announced the launch of free next-day delivery on thousands of items that it sells online, with no minimum purchase or membership required. How important is speed of delivery to online sales performance?

Will Best Buy wrap up Black Friday sales with a price match guarantee in October?

Will Best Buy wrap up Black Friday sales with a price match guarantee in October?

For the first time, Best Buy is launching a promotion on select TVs and home theater products that includes a guarantee basically promising to refund the difference should the price head lower on Black Friday. Is Best Buy’s price guarantee promotion a compelling twist on an early Black Friday deal?

Best Buy makes a big bet on health tech

Best Buy makes a big bet on health tech

Best Buy Co. last week set a goal to provide five million seniors with health monitoring services in five years, up from one million currently, as healthcare shifts to a primary growth opportunity. What do you think of the growth potential for health tech at home and is Best Buy well positioned to exploit it?

What makes great retail leaders?

What makes great retail leaders?

The Glassdoor Employees’ Choice Awards get the input of employees who voluntarily provide anonymous feedback by completing a company review about their CEO’s leadership. What do you think makes a strong retail leader?

Did Apple just hand Best Buy the keys to its retailing empire?

Did Apple just hand Best Buy the keys to its retailing empire?

Apple announced on Wednesday that nearly 1,000 Best Buy stores are now authorized as repair locations for all its products. Do you see more pros or cons to Apple’s decision to name Best Buy as an authorized repair provider?

Best Buy knows tech. What about fitness?

Best Buy knows tech. What about fitness?

Best Buy announced that it has added connected home exercise devices to bestbuy.com and that it plans to display and sell the products in more than 100 stores by the end of the year. Do you expect Best Buy to be successful with its move into connected fitness equipment?

Hubert Joly: New Best Buy CEO has the right stuff to lead chain to new heights

Hubert Joly, the architect of Best Buy’s turnaround, is stepping down as CEO and moving to the role of executive chairman of the board. Corie Barry, Best Buy’s current CFO and strategic transformation officer, will take over as CEO and also join the board. Do you expect Corie Barry to make any significant changes at Best Buy as the retailer’s new CEO?

How much inventory visibility do retailers need to give consumers?

How much inventory visibility do retailers need to give consumers?

According to an evaluation of about 2,000 retail websites from OrderDynamics, only 38.1 percent of retailers show basic inventory visibility on product pages. How transparent should retailers be in giving consumers information on inventory availability?

NRF: Top retailers share cultural keys to retaining employees

NRF: Top retailers share cultural keys to retaining employees

In a tight labor market with little to prevent retail employees from switching companies, retailers are finding it critical to be considered a pleasant place to work. What do you see as the keys to recruitment and retention for retailers?

NRF: Best Buy CEO Hubert Joly talks about what it takes to ‘be’ a great leader

NRF: Best Buy CEO Hubert Joly talks about what it takes to ‘be’ a great leader

In a session focusing on “leading with conviction” at the NRF, Best Buy’s CEO, Hubert Joly said “As I age, I believe that IQ is way overrated and that EQ is where it matters.” What core leadership qualities do you believe guide successful retailers today?

What will it take for retailers to win the last-mile race for customers?

What will it take for retailers to win the last-mile race for customers?

Top retailers have improved their speed in last-mile fulfillment drastically over the last two years and those gains have been instrumental in helping them stay afloat. How can retailers best succeed in the last mile without spending so much to get there that it negates the value of the investment?

RetailWire Christmas Commercial Challenge: Amazon vs. Best Buy

RetailWire Christmas Commercial Challenge: Amazon vs. Best Buy

This week’s Christmas Commercial Challenge pits Amazon.com against Best Buy. Which does a better job of connecting with its core customers while reaching out to new shoppers?

Will Best Buy’s golden years strategy deliver long-term success?

While most retailers seem to be obsessed with finding ways to attract younger consumers, others such as Best Buy see business opportunities in catering to the needs of the nation’s senior citizens. How do you expect Best Buy’s senior focus to affect its results over the long-term?

Will Amazon team with third-party sellers as a Prime perk?

Will Amazon team with third-party sellers as a Prime perk?

With indications that Prime’s U.S. membership may have peaked, Amazon.com may need to add even more perks to drive sign-ups. Some are wondering if more discounts at third-party retailers may work as an incentive. Would offering discounts at third-party retailers as a perk for Prime be more beneficial to Amazon or the third-parties?

Best Buy makes health and wellness tech a strategic priority

Best Buy makes health and wellness tech a strategic priority

Members of Best Buy’s Geek Squad can fix your computer, but will they someday troubleshoot your pacemaker? The consumer electronics chain recently announced that it’s making health and fitness-related technology a priority in a number of ways. Do you see Best Buy having success with its Assured Living IoT program?

The question for today’s retailers: What business are you in?

The question for today’s retailers: What business are you in?

In one of his best-known works, “Marketing Myopia” in Harvard Business Review (HBR) from 1960, Theodore Levitt focused on a single strategic question: “What business are you in?” Is it a common flaw for retailers to define themselves based on what they sell rather than the solutions they offer?

Best Buy finds more inventory on hand drives sales

Best Buy finds more inventory on hand drives sales

Best Buy has been on a roll with a same-store sales gain of 7.1 percent in the first quarter following a nine-point comp gain during the fourth quarter. Among the keys to the consumer electronics chain’s success has been its inventory management. Do you see demand planning and inventory management as a competitive advantage for Best Buy?

Best Buy’s Geek Squad is now available by subscription

Best Buy’s Geek Squad is now available by subscription

Best Buy has launched its Total Tech Support Powered by Geek Squad subscription program nationwide to help customers get the help they need with all their technology-related issues. What effect will the Total Tech Support subscription service have on Best Buy’s reputation among consumers?

Best Buy campaign highlights its ‘insurmountable advantage’ – its people

Best Buy campaign highlights its ‘insurmountable advantage’ – its people

Best Buy has been one of the true, feel-good turnaround stories. Now, the consumer electronics retailer has launched a new campaign that focuses on the people, products and services that set it apart from rivals. Do you agree that Best Buy’s people give the chain an “insurmountable advantage” over retailing rivals?

Best Buy and Amazon expand their coopetition

Best Buy and Amazon expand their coopetition

Best Buy and Amazon.com are banding together in an exclusive deal that will have Best Buy selling Amazon’s Fire TV Edition smart TVs in its stores and becoming a merchant on Amazon’s site. What will the Best Buy/Amazon deal mean for the two companies as well as retailing rivals?

Customers want to be left alone while shopping

Customers want to be left alone while shopping

A new customer survey by HRC Retail Advisory reports some rather startling findings: 95 percent of shoppers want to be left alone while shopping. How should stores balance technology investments that enable associates versus those that enable shoppers?

Will return bans burn retailers that impose them?

Will return bans burn retailers that impose them?

Some retailers including Best Buy are turning to third-party vendors to track and limit the amount of merchandise accepted as returns. Do you think that retailers using in-house or third-party systems to limit returns are on the right or wrong track?

Can Circuit City come back from the dead?

Can Circuit City come back from the dead?

When big box electronics was booming, Circuit City was one of the biggest retailers around. But then the storefronts were shuttered and online operations went dark. Now, after years of rumors, Circuit City is relaunching — starting with e-commerce. Can Circuit City make a successful return from the grave to compete with the likes of Best Buy and Amazon.com?