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FORUMS Marketplace & Market Info Market Watch 
Thread started 21 Apr 2012 (Saturday) 19:13
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Best Buy closing 50 stores

 
bikeboynate
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Apr 23, 2012 23:12 |  #46

I think that my 60D breaking and them having to give me a new one contributed to this. I guess they were too lazy to fix my old one so they just gave me a new one yesterday :twisted:


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umgrizz
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Apr 24, 2012 00:21 |  #47

I too hate to see the loss of competition but I question whether Best Buy actually provides competition. It is the only place I have ever seen where the sale price on some occasions for some items is actually higher than the regular price! Is that any way to run a business (unless you are trying to run it into the ground)?

Curt




  
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isoMorphic
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Apr 24, 2012 06:10 |  #48

tkbslc wrote in post #14317003 (external link)
Years ago you couldn't buy the same cable for $2 on ebay direct from China.

No but you could buy the same stuff from closeout vendors on Ebay like Justdeals. Back in the day discontinued electronics were being liquidated by the pound. Entire trucks of goods could be bought for pennies on the dollar.




  
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Mk1Racer
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Apr 24, 2012 07:16 |  #49

isoMorphic wrote in post #14315405 (external link)
How did Best Buy survive years ago when it used to offer fairly competitive prices and yet it's struggling now when the markups are higher then ever?

Pretty simple micro economics there. Higher margin and less volume does not necessarily mean more revenue or profit than low margin and high volume.

Internet shopping has all but killed the big box stores like BB. Since they really offer nothing beyond the product, there is no reason to pay a higher price to get an item there, unless you just happen to need to need it right then, and they are the easiest solution. If they had real customer service, or staff that were truly knowledgeable about the products they carried, it would be worth something. But, they don't.


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tkbslc
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Apr 24, 2012 09:43 |  #50

I think places like POTN and other vast web resource have reduced the value of the high service store, as well. Why go have an expert at a higher priced store tell me what I need when a web forum or blog can for free? Then I can buy at a no-service online store for bottom basement prices. Amazon gets us to write reviews for free, so shoppers don't need any help from a salesperson.


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Virto
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Apr 24, 2012 11:30 |  #51

As a former BB employee, I'm happy to say

Good.

Knowing the company sales practices and methodology, I stopped buying from them shortly after I started there. It's a horrible place for the consumer, and even worse for the employees that fail to upsell people on expensive repair plans.


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isoMorphic
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Apr 24, 2012 14:35 |  #52

tkbslc wrote in post #14319053 (external link)
Amazon gets us to write reviews for free, so shoppers don't need any help from a salesperson.

Those reviews are not always beneficial to Amazon or free by any stretch even if it might appear that way. I can't tell you how many potentially bad purchases i avoided thanks to reviews. When you think about it that means Amazon probably sold much less then it would have if there were no reviews.

What it likely does is help save Amazon a small fortune in processing unwanted returns i'm pretty sure of that. I am slowly buying my up the review ranks in hopes of getting into to the top 1000 by years end and hoping to one day get in the Vine Voice program. I really feel obligated to give back as so many who helped me by providing reviews that helped me avoid bad purchases and make better ones.




  
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Littlejon ­ Dsgn
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Apr 24, 2012 14:41 |  #53

isoMorphic wrote in post #14320735 (external link)
Those reviews are not always beneficial to Amazon or free by any stretch even if it might appear that way. I can't tell you how many potentially bad purchases i avoided thanks to reviews. When you think about it that means Amazon probably sold much less then it would have if there were no reviews.

What it likely does is help save Amazon a small fortune in processing unwanted returns i'm pretty sure of that. I am slowly buying my up the review ranks in hopes of getting into to the top 1000 by years end and hoping to one day get in the Vine Voice program. I really feel obligated to give back as so many who helped me by providing reviews that helped me avoid bad purchases and make better ones.

In my case amazon made more money from bad reviews it kept me from buying cheap junk and looked to the next step up. And a lot of the reviews come at a cost to the seller (if it is not amazon), I purchased some third party center pinch lens caps, in the package was a note asking to leave a review and they would send me a cleaning cloth for my time. I left an honest review and got a free cleaning cloth as well :D




  
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Pearlallica
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Apr 24, 2012 14:45 |  #54

kenjancef wrote in post #14305858 (external link)
If I need something small, and need it quick, I'll hit a Best Buy. I walk in, grab, pay, and get the hell out.

Isn't that how most male's shop? LOL

This too is about the extent of my best buy usage. I'm more of a newegg guy. My buddy is a manager at Best Buy, so if I need to get 600 bucks knocked off a pricey big screen or some cheap name brand HDMI cables, I know where to go.

I buy most of my apple products at Best Buy because of the no-commission/no hassle and because apple pricing is vulgar no matter where you shop.


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boufa
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Apr 24, 2012 15:30 as a reply to  @ Pearlallica's post |  #55

As part of this re-do of their sales locations, they are renovating the store in Mentor, OH. Thats not interesting by its self, but what is interesting is that they are moving the front door, and making the building smaller. After the renovation they are going to have an extra space for an additional store.


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isoMorphic
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Apr 24, 2012 20:39 |  #56

boufa wrote in post #14321130 (external link)
After the renovation they are going to have an extra space for an additional store.

China Direct Holdings will probably be renting that location. :lol:




  
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TabulaVicious
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Apr 24, 2012 22:32 as a reply to  @ isoMorphic's post |  #57

I remember paying $39.95 on a parallel printer cable back in the 1990s and feeling ripped off.

Now I shop at Monoprice.com. :lol:


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Virto
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Apr 25, 2012 09:31 |  #58

TabulaVicious wrote in post #14323776 (external link)
I remember paying $39.95 on a parallel printer cable back in the 1990s and feeling ripped off.

Now I shop at Monoprice.com. :lol:

Lol, yhea. We were required to upsell you on a double-shielded gold-plated cable that cost 49.99. Not that it makes any difference whatsoever, especially back on some model year 2000 bubblejet. We were actually told to take the regular cables off the rack and hide them behind the counter, so people would be forced to buy the gold-plated cables for 10-20 dollars more, unless they specifically asked if we had any others.


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Noitca
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Apr 25, 2012 10:25 |  #59

tkbslc wrote in post #14315048 (external link)
Overpriced accessories is the only way they make ends meet. I worked at a similar store and markup on most electronics items (like computers, printers, cameras, etc) is only 3-5%. The add-ons are marked up 60-90%. They likely make more profit on the $50 HDMI cable than they do the $1000 TV! Service plans are almost pure profit, too.

I worked best buy home entertainment for a while in the late 90's and early 00's in Florida. This absolutely true. Crap, if they could sell you in this order, they would... Service, Accessories, Product. Problem is, you need to know the product to sell the other two.

Pearlallica wrote in post #14320800 (external link)
Isn't that how most male's shop? LOL

This too is about the extent of my best buy usage. I'm more of a newegg guy. My buddy is a manager at Best Buy, so if I need to get 600 bucks knocked off a pricey big screen or some cheap name brand HDMI cables, I know where to go.

I buy most of my apple products at Best Buy because of the no-commission/no hassle and because apple pricing is vulgar no matter where you shop.

As far as I know, Apple has "price agreements" with the retailers.. which basically says that Apple sets the prices that Best Buy, Walmart, so on and so forth can sell the products at. Thus, "price shopping" for best prices on most new apple products is near useless.


T1i with 18-55, 55-250, 50 1.8

  
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Noitca
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Apr 25, 2012 10:29 |  #60

Virto wrote in post #14325908 (external link)
Lol, yhea. We were required to upsell you on a double-shielded gold-plated cable that cost 49.99. Not that it makes any difference whatsoever, especially back on some model year 2000 bubblejet. We were actually told to take the regular cables off the rack and hide them behind the counter, so people would be forced to buy the gold-plated cables for 10-20 dollars more, unless they specifically asked if we had any others.

I remember going through "training" in the Home Theater department about selling the Monster Cable fiber optic cable, and why that was better than the Best Buy brand.

I all but told the guy that he was full of crap, and I refused to push that product.


T1i with 18-55, 55-250, 50 1.8

  
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Best Buy closing 50 stores
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