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January 06, 2012

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Will

Paul - I've been reading some of the same articles. This is scary for many reasons. As a resident of Richfield I must say losing an employer of this size would be a huge hit to the community in many ways. Of course, other corporations could always come in and take over, but Best Buy has been pretty good to the city.

I am confident they will turn it around. Maybe they just need a kick in the pants.

Tiffany

I would rather poke myself in the eye with a sharp object than enter a Best Buy retail shop. But good things have been said about them as an employer on the corporate front. For the sake of those employed with BBY, I hope the company can turn things around.

John

Great points, Paul. I think that the Forbes article author has a chip on his shoulder, although he's absolutely right that Best Buy has continually stumbled over the years. I've never experienced poor service in any of their stores; quite the contrary.

CEO Brian Dunn needs a reality check, however. He says that 80% of electronics purchases are made in-store rather than online. If that is the case, how could BBY not be increasing same store sales, given that their two biggest specialty competitors, Circuit City and Ultimate Electronics, have gone away such that Best Buy is the last man standing? On top of which, most households have bought a laptop and a HDTV in the past 12 months so the purchase cycle is up.

Yes, I know that Target and WalMart have increased their Electronics departments and offerings, but in my experience Target staff can barely tell you what a DVD is for, let alone why one TV is better than another. Best Buy's problems are all of their own doing. The corporate offices are crawling with consultants, which results in frequent re-organization and re-trenching. How can they not be succeeding in China, where personal income growth and spending are both increasing at a staggering rate?

I'm not convinced that Best Buy is working their way slowly out of business, but their Board needs some new life so they'll bring in executive leadership with a new vision.

Brian

Best Buy is a dinosaur AND they treat customers like shit. You can't survive in this market as a dinosaur and treat your customers like a bowel movement. The extinction of Best Buy is certain, how long it takes is another question.

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  • Paul DeBettignies, Minnesota Recruiter, Minnesota Headhunter, Minnesota IT Jobs

    Welcome to the Minnesota Headhunter Blog. My name is Paul DeBettignies (pronounced De-Bett-ingz).

    I started writing this blog in May of 2005 to share thoughts and ideas I had as an IT recruiter.

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    Minnesota Headhunter

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