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Best Buy’s Best Bet

I just read an article about Best Buy’s struggle in the current economy. There were a lot of comments about what direction they should take. I think its all about the price. Electronics are the same in every store, so you go where it is the least expensive. I like to browse at Best Buy, but often buy my products somewhere else. With a tight economy, people shop around and Best Buy’s prices are not usually the lowest. I recently bought an HP laptop for $299 from Frys Electronics. Best Buy had the same laptop for $399. They could add value by having very technical knowledgable staff, but they usually don’t know more than I do. Their weekly sales ads do not encourage me to visit either. They need to take a trick from Walmart. Offer a lost leader product to get you in the door, then sell you something else while you are there. Something that has a high profit margin like cables.

http://www.dailyfinance.com/2012/04/11/best-buy-turnaround-ideas-consumer-electronics/#

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