Best Buy's Final Attempt to Survive?

Last March I wrote about the demise of big box electronic retailer "Best Buy."  They have been struggling to make a profit as more and more shoppers make electronic purchases online; or at Target or Walmart (as their electronic departments continue to grow).  In the past month I have noticed two interesting developments relating to Best Buy:
  • A Combination Best Buy/Gardner White Store:  Most of my visits are to the Southgate, Michigan store but I have popped into the Novi, Michigan Best Boy when I am in the area.  Just a few weeks ago I was surprised to see that half of the store was now a furniture store.  It appears that two locations follow this method in Michigan.  Furniture is still an household object that people want to purchase in person, not online.  Maybe this will be one method to save some Best Buy stores, at least locally.  I noticed this location had less DVD movies and CDs on sale (items people are buying less of thanks to streaming and online purchase).
  • Low-Price Guarantee Extension:  It appears Best Buy will now extend price matching to online retailers.  Best Buy was suffering from consumers visiting their stores, checking out various items, snapping a photo of the product's barcode, and making the purchase elsewhere (usually online) at a lower price.  Best Buy would match other physical store location prices, but not online prices.  Looks like this will change, which may put an end to the process of "showrooming" (research/try out at the store, buy at home).

I still make some purchases at Best Buy.  I enjoy the reward program and their financing program for various purchases.  At the same time, if the chain disappeared I would not be devastated.  I could easily make my purchases elsewhere.  What do you think?  Will either of these two methods help save the retail giant?  Do you still shop at Best Buy?  Or are most of your electronic purchases made elsewhere?  


Popular Posts