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Friday, March 30th, 2012SUGGEST NEWS

Best Buy says it will close 50 big box stores, cut 400 jobs
Posted by: Nebuchadnezzar on March 30th, 2012 @ 1:16AM
  • 3/30 - After posting this I went to the gym and they had a big special on CNBC about Best Buy. They showed Geeksquad going out to reverse some speaker wire connection for $150. The whole thing seemed like a infomercial for best buy.

    -Link - I don't really want Best Buy to go out of business but I think they do rip you off on movie prices, and the prices of cables like the $50 monster cables and such. I almost never go to Best Buy anymore except on Black Friday. I usually just shop on Amazon.com. I wonder how much I've spent there over the years.

    COMMENTS (17) | BUSINESS | DIGG
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    Mazer_R
    Marine

    March 29th, 2012 @ 2:10PM

    Registered:
    2003-09-03
    Location:
    Wheatland, CA
    Posts: 262
    Amazon is taking tons of market share from big box box stores. It's going to be interesting how the retail industry is going to change over the next 5-10 years.
    Surelog
    Kali Compton

    March 29th, 2012 @ 2:19PM

    Registered:
    2003-03-26
    Location:
    Kentucky
    Posts: 274
    Walmart and Amazon. The only two stores that will exist in 10 years.
    justinr
    Marine

    March 29th, 2012 @ 2:36PM

    Registered:
    2003-04-13
    Location:
    Houston, TX
    Posts: 204
    Best Buy and Blockbuster going out of business? My lifelong prayers have been answered ....
    Smokin Joe
    Marine

    March 29th, 2012 @ 2:39PM

    Registered:
    2006-06-10
    Location:
    The Land of Chocolate
    Posts: 2782
    This is for goddamn Geek Squad.
    Charkoth
    Right Wing Extremist

    March 29th, 2012 @ 2:39PM

    Registered:
    2003-05-08
    Location:
    OHIO
    Posts: 2575
    Yeah Best Buy is a total ripoff. I get sick of watching how their sales guys prey on old people to sell their "geek squad" services.

    I occasionally buy blue-rays there on sale buy that is only because it is across the street from my favorite restaurant which has long wait times and I need some place to kill time.
    Disastrous Fate
    General

    March 29th, 2012 @ 3:04PM

    Registered:
    2004-02-09
    Location:
    Posts: 1122
    I used to like looking around in there, as they used to be one of the few local stores with decent movie selections. They also had some random other cool computers and video game stuff, so I never minded it.

    However, the redesign has really killed the look of the place, and they're prices are just completely out of whack relative to the internet.
    cobsteele02
    Marine

    March 29th, 2012 @ 3:05PM

    Registered:
    2004-10-08
    Location:
    O'Fallon Missouri USA
    Posts: 709
    I have a love hate relationship with them. I have gotten some good deals there over the years but they do have rip offs.

    Recently my woman and I had to renew our sprint contract. We got two brand new HTC Evos for free from best buy mobile for renewing with sprint. 300 dollar phones.
    Jeff
    Diablo Fan

    March 29th, 2012 @ 3:13PM

    Registered:
    2003-06-03
    Location:
    IL
    Posts: 448
    Big retail stores like Best Buy are going to die. The overhead of the building and employees is too high; they can't compete with online shops like Amazon. Online there's a lower price, better selection, easier browsing, user reviews (much more reliable than any store employee), and the product gets sent straight to your door.
    jaykaywhy
    Peon

    March 29th, 2012 @ 3:34PM

    Registered:
    2003-04-14
    Location:
    Posts: 138
    I have no sympathy for Best Buy. I spent 5 minutes trying to politely tell one of their sales associates to go away when he was trying to sell me a 50` CAT5 cable for $30.

    I found one on Amazon.com for $6. And with Amazon Prime, free 2 day shipping? Yes, please.
    dohdohburd
    Burd is the word

    March 29th, 2012 @ 3:57PM

    Registered:
    2003-03-26
    Location:
    Sacramento, CA
    Posts: 441
    I work for Best Buy, sucks to see this happen but what did they expect? I get a discount there and still 90% of my electronic shopping is done on Amazon. Hope my store isn't closing haha
    m0rb0
    Op

    March 29th, 2012 @ 5:18PM

    Registered:
    2003-03-27
    Location:
    San Antonio, TX.
    Posts: 511
    So I walk into my office after lunch:

    Coworker: Hey Best Buy is closing 50 stores

    Me: You mean the 50 here are all getting shut down? Thankfully we will still have 10 left.

    Newegg murders bestbuy. BB is open on Sundays though, and when a router or hd goes bad, it's nice!
    BloodClot
    Kali Compton

    March 29th, 2012 @ 5:48PM

    Registered:
    2003-03-26
    Location:
    Southern OC
    Posts: 519
    Sadly I will miss them because I use them like a catalog store (if any of you young people remember them, like the Sears of old). I go there to see what I want to buy, then go buy it online.

    I do buy movies there when they are on sale, same with video games, but that is rare.

    SourGrapes
    Peon

    March 29th, 2012 @ 6:46PM

    Registered:
    2006-06-01
    Location:
    Posts: 142
    Why go to the store and then buy online? Kind of defeats the purpose. Prices are pretty much the same for most things and you have to pay shipping (Amazon Prime isn`t free). If I can get what I want from Fry`s/BB/Microcenter or whatever, I`m just going to go there. There`s no way I`m waiting 5+ days for a replacement router I need now. I have a Fry`s and BB both within 5 minutes of me so... Unless you`re REALLY that averse to human contact and using your legs. :P
    Gabe
    Special Ops

    March 30th, 2012 @ 7:39AM

    Registered:
    2006-04-19
    Location:
    Boston
    Posts: 54
    Its all one big cycle...

    Way back in the day, people bought everything from catalogs, like Sears. They had a cost advantage and was the cheapest, sometimes only way to buy something.

    But people needed the ability to purchase some things right away, or they needed a higher level of service on things like appliances. So, enter the local store.

    The catalog people started losing share to the local stores, so they opened their own, bigger, cheaper stores. And killed the local stores.

    Amazon, the new catalog, comes in and undercuts the bigger cheaper stores on price and the big stores, with shitty service get hosed.

    Now you are starting to see the re-emergence of the local specialty store.

    The only difference is that shipping is getting faster


    EDITED: 2012-03-30 07:40:48
    Trickshot
    Peon

    March 30th, 2012 @ 7:46AM

    Registered:
    2006-10-22
    Location:
    Lansing, Michigan
    Posts: 515
    Best Buy is secretly going out of business. I realized the last time I went there. Their cheapest hdmi cable was $20.. There`s probably a dozen or so people in corporate who are just stealing a bunch of money because they know the ship is sinking.
    jaykaywhy
    Peon

    March 30th, 2012 @ 7:57AM

    Registered:
    2003-04-14
    Location:
    Posts: 138
    @Sour Grapes: Oh, for sure. If the price at Best Buy is comparable somewhere online, then by all means just buy it at Best Buy.

    The whole point is that most of my purchases were not immediately needed, and the prices of what I wanted were not comparable between Best Buy and Amazon.

    Even if the delta of price differences between the two stores is insignificant, that doesn`t change the fact that what I wanted to purchase was typically more expensive at Best Buy, and significantly so.

    And I`m lucky enough to get Amazon Prime for free, so it`s a no-brainer for me.
    jaykaywhy
    Peon

    March 30th, 2012 @ 7:59AM

    Registered:
    2003-04-14
    Location:
    Posts: 138
    Although to be honest, part of me is annoyed that Best Buy will do things like offer to upgrade your PS3`s firmware for $30, or let the Geek Squad install your game system for an extra $75.

    Even if they`re isolated incidents, that kind of shady business practice (taking exploitive advantage of the ignorance of others) is enough to warrant condemnation from me.


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