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| The Worst Buy (NYSE: BBY) in forum [Market-Ticker]
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Sean
Posts: 1765
Incept: 2009-04-21
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Frys Electronics is where it's at baby!
Best Buy near me sucks, sucks, sucks on every level!!!
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* I think Ann Barnhardt is more and more right. God help us!
* Progressives / Marxists / Communists are many things, STUPID and IMPATIENT are not two of them.
* A hot civil war is coming.
* And people wonder why I prep!
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Ckaminski
Posts: 1569
Incept: 2011-04-08
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Sadly, we don't have Fry's on the east coast. Best buy is it. Then I'm left with Microcenter (awesome), or a trip to NYC to find a store holding electronics. I suppose Staples might pick up the slack a bit, but if I need a disk drive in a hurry I'm ****ed.
Guess I should just start keeping spares around - that's about the only thing I ever do need in a hurry.
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Flappingeagle
Posts: 1224
Incept: 2011-04-14
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So, does this mean that people are buying from Amazon where the margins are so thin you can't slice them with a razor? In a time of ever tightening belts for most Americans, where does this end/go after Amazon?
Flap
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Here are my predictions for everyone to see:
S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu.
"You can't build a house of cards on a shaking table." - Tony Johns
The January 2015 AMZN put at $130 (cost $4.25) will be a winner.
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Docj
Posts: 998
Incept: 2009-09-10
Duck & Cover
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Good thing they wiped-out Circuit City some 2-years ago, or these numbers would be even uglier. Bullish!! (/sarc) KD wrote..Honestly, I don't know why Best Buy exists any more. My only guess, and it's just a guess, is appliance sales. Which is tangentially what I think is the only reason Sears is still hanging around (brand-loyalty to Kenmore). Large appliance sales are, in my opinion, tough to do over the internet - best to see it and "kick the tires" first before plunking down the plastic to have it delivered. I wouldn't be surprised to see BBY out of the "electronics" game in 3-4 years. They'd probably cut their brick-and-mortar in half at the same time and try to survive on high-end appliances and HD TV's.
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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams
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Thesev
Posts: 1372
Incept: 2007-10-30
Louisiana
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h.h.gregg opened 2 locations here recently. Hadn't heard of them before and I guess I'll look into them.
Just another version of BB, Circuit City, et.al. I'm imagining.
Rarely go into BustBuy, haven't bought much from them ever.
I preferred the old knowledgeable stores, all gone now.
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The reason the republic isn't working is that it's being run as a democracy.
It doesn't matter who you are, or who you Think you are, the Math is Going to Win.
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Phxkevin
Posts: 353
Incept: 2010-06-25
Phoenix Arizona
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Fry's electronics is a loser also. Poor customer service (the check out lines are painful), few knowledgeable employees on the floor. Worst of all, they charge a lot more in the store compared to their website. You research it online with two or three companies, you see that Fry's seems to have a good price, and you want it now. You go in the store and its 20% to 30% higher than online. Bait and Switch. I get*****ed off and buy it online from Newegg or Amazon.
Not a fan of best buy either.
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Congress persons are all the same, republican or democrat, conservative or liberal. They talk a good game, but the results (or lack thereof) show something different.
Reason: bait and switch
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Twainfan
Posts: 147
Incept: 2010-12-01
Minnesota
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About the only things I hear people talk about going to BB for these days is either a tv (most of what they carry is junk imo), geek squad (god only knows why people use those morons) or the Apple products/Genius Bar.
If people ask me for computer advice, I send them to Microcenter or online usually. If they ask about tvs, I'll tell them to go look at the various models in BB then buy one online (not from BB).
One of my co-workers bought a 52 inch plasma tv (company quit making them right after he bought) and BB talked him into HDMI cables ... over 100 bucks each because they were "gold plated". I felt bad showing him the link to Amazon where a very similar cable was 5 bucks. I can't recall the last time I bought something in BB. Sometimes I stop in and look around but they're way over priced on DVDs etc ... and I hate them trying to sell me extended warranties on everything. Good riddance I say.
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Ct1977
Posts: 231
Incept: 2009-08-13
East Hartford, CT
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I would never shop at Best Buy...ever. Lately I've been picking my television's and electronics out of local pawn shops. You would be surprised what you find in some of the larger, well run pawn shops in your local area. That and Wal-Mart seems to have decent pricing on electronics these days.
Best Buy never evolved in terms of their business model and I agree with Karl that a Circut City type event is on the horizon, I think the question isn't if but simply when.
In Connecticut, P.C Richards & Sons is another electronics retailer that seems to have thrived in our region while Best Buy has wilted. So I think there is a need & niche for electronics stores but it's the type of business where management needs to be willing to change on a dime.
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Mayorquimby
Posts: 13907
Incept: 2008-09-18
The Archaic Past
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Big Box electronics come and go with regularity. Crazie Eddie, The Wiz, Circuit City etc.
I think they are going going and eventually gone (or at least MUCH smaller) but they will linger on for a long time yet.
Their best chance at short term survival is a wave of interest in Windows 8, used sales for BluRays and video games (they can compete with GameStop et al in this regard imo) and others but longer term I think they are a zero eventually.
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They who wish to hurt you, work within the law.
- Morrissey
Gold is theft.
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Aztrader
Posts: 6648
Incept: 2007-09-10
Scottsdale, AZ
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Amazon was losing money on the televisions they sold due to the free shipping. What do you think will happen this Christmas when they have to collect sales tax. It will be a wipeout. People are going to run for cover and it will show in sales. How much of the gross sales at Christmas are for electronics? A large portion of high end TV's that can easily skew the numbers. If they lose a bunch of sales here, then the gross numbers should be horrible.
It should be an interesting holiday this year...........
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J0nx
Posts: 3066
Incept: 2008-08-12
The trashcan of the nation
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It's all about:
- in stock and modern products in store available to purchase
- at prices that are at least on the near side of ordering from Amazon.
BBY has none of those bulleted items going for them. They sell low end junk from 2010 and earlier at prices that are 2012. This store lost its way sometime around 2008. They are the K-mart of electronics.
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The fraud and lies are only allowed to continue because the people allow it. Either through apathy or ignorance, they still allow it.
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Nomullet
Posts: 6819
Incept: 2007-11-11
SW
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There still mom and pop computer stores that have 5$ cables. Bring these people your business!
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Don't confuse clear thinking with simplistic thinking.
--Nomullet
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Wineaux
Posts: 533
Incept: 2009-03-23
pure Liquid pleasure
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Best Buy deserves this. Their customer service has always been horrible. They were able to get away with it years ago because prices were more competitive than Circuit City and selection was better. I stopped shopping with them years ago when they screwed me over a digital camera. I haven’t stepped foot in a BB in over two years. If I want to “kick the tires” prior to a purchase, I’ll go into a hhgregg or Costco.
BTW, I have had a great experience with hhgregg with price matching. I couple of years ago I bought a Bosch washing machine to replace an older model. I found a great price and extended warranty at an authorized internet retailer, printed the ad and brought it to hhgregg. They matched the warranty and price dollar for dollar. It was at my house the next day and they hauled away the old machine. My only complaint was that the install crew could have laid down moving quilts along my hallway to prevent the carpet from getting wet from the removal of the old machine.
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What wine goes with unemployment?
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Dmj625
Posts: 434
Incept: 2010-03-01
New Orleans, LA
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I buuy most things online because I am always frustrated by the ignorance of sales people. 99% of the time I go to buy something, I know more than the person who is allegedly there to "help" me.
When I was a freshman in college I worked in the Marine Electronics Dept of Sports Unlimited (a big box sporting goods store). I took it upon myself to read the instruction manuals for all of the GPS's, LORAN's, Depth Finders, and VHS Radios. When people came in, I could answer their questions and demonstrate how the units worked.
I don't necessarily expect the sales people to know everything, but I want someone who at least has a working knowledge of what they are selling. Example: Last year my wife and I went to look at cars. The salesman at the Honda dealer was showing us an Accord. I asked to see one with a V6 and he told me they didn't make Accords with V6's. So I walked 10 feet and found one myself. How can you expect to sell cars if you don't even know what firggin' engine comes in them?
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"The more that laws and regulations are given prominence, the more thieves and robbers there will be."
-Lao-tzu
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Randy123
Posts: 5767
Incept: 2008-09-24
Earth
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I liked Crazy Eddie. What a nutjob.
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China is the Enemy. Wake Up.
New Normal. Same As The Old Awful.
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Mayorquimby
Posts: 13907
Incept: 2008-09-18
The Archaic Past
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Quote:Best Buy deserves this. They sure as **** do! $30 for $3 HDMI cables - ripping off unsuspecting seniors and what not. **** them!
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They who wish to hurt you, work within the law.
- Morrissey
Gold is theft.
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Ktrosper
Posts: 1497
Incept: 2010-04-06
ft collins co
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They have this 60-day, no questions asked, return policy for their BB Rewards members.. My wife was seriously swapping out tablets every 6 or 7 weeks for what seemed like a year!!! She was swapping them for serious reasons, but I was thinking to myself "OMG! This has got to be costing them a fortune!"...
Also, think about this... MANY consumers will go there, touch and feel the thing they are interested in, then log onto Amazon or whatever to have it shipped free to their home for much less.
When your brick and mortar stores are nothing but a display room for Amazon, you're screwed.
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The unexamined life is not worth living.-Socrates
The only stable state is the one in which all men are equal before the law.-Aristotle
Liberty exists now in the spaces government has not yet chosen to occupy.-Doc Zero
I anticipate that 10 Dallas Cowboys Cheerleaders will blow me this evening.-K.D
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Clintb350
Posts: 1449
Incept: 2008-01-19
Southern AZ
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Stopped in at our new Fiat dealer to look st a Fiat 500 in person. Pointed out to the saleslady that the original 500 was rear engine / rear drive. She had no clue.
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Wearedoomed
Posts: 3584
Incept: 2009-01-14
slightly red state
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Thesev wrote..h.h.gregg Beware, their salesmen work on commission. Their recent expansion into brand-new markets (in this environment? wut?) will bite HGG in the ass at some point, but not before they vacuum as much cash out of customer wallets as possible.
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And you, my father, there on the sad height,
Curse, bless me now with your fierce tears, I pray.
Do not go gentle into that good night.
Rage, rage against the dying of the light.
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Gamma
Posts: 5546
Incept: 2008-01-20
Northern CA
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I like Fry's. I will admit, in the beginning, you could buy NOTHING, ZERO at their store wasn't a factory second or even a third and it was bad out the box. Now, their stuff is great and I've had no problems for several years. True, their individual electronic components are pretty expensive, but you need a late night capacitor right then and you're pretty much stuck---hopefully you can cost average it with all the other crap you bot mail order. And I've found their salespeople pretty knowledgeable---if I've had questions they didn't know the answer for, they went and got someone who did. True, it is hard to get in and out of the store in a brief period of time, but I crack up at the "gauntlet" the 150' of candy, dongles, cables, and doodads you have to go through on your way to the checkout registers.
I have some degree of sympathy for Best Buy...not that this translates into me shopping there.......even though they may suck, I can't imagine they are having a good time competing against internet vendors. And these big box electronics stores are ugly, writhing situations in their death throes. But this is the nature of the 'net and it killed more than one business of mine---the 'net turns every idiot into the world's hippest shopper and intermediation is killed. C'est la vie, can't fight it...unless you have something unique to offer, in which case the world will try to copy your **** and eat your lunch first thing in the morning.
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This stuff we're going through, this is nothing compared to the Middle Ages.
They told me if I voted for John McCain, an idiot would be a heartbeat away from the presidency. Sure enough...
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Aquapura
Posts: 128
Incept: 2012-04-19
Land of 10,000 taxes
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Years ago I was seeing a woman that worked for BBY. Don't recall her title but she was responsible for working with vendors on placing products in the weekly ads. The stories I heard were exactly the same ruthless vendor squeeze that is commonly said about Wal-Mart. I did get to tag along to several steak dinners as companies would do anything to get in that Sunday ad.
For me Micocenter is where I go local but prefer Amazon or Newegg. Not too long ago I bought a new TV from Costco. The price at BBY for a similar set was about the same but Costco has no questions asked 2yr return policy. Ever brought a piece of failed electronics back to Best Buy? Good luck with that.
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Smacktle
Posts: 1358
Incept: 2009-01-20
Texas
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Best buy must die!
They just spent a bunch of money redoing the entire Best Buy store near me.
I had the same experience with ear buds. Looked through the whole store and finally had to ask where they hid them. I bought my 2nd pair of Klipsch. 1st pair got run over by the car. Good sound and good fit for $75.00.
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The faults of the burglar are the qualities of the financier.
- George Bernard Shaw
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Jrminter
Posts: 32
Incept: 2008-10-09
Rochester,NY
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I'm not a big fan of Worst Buy for many of the reasons Gen posted. I wonder how much of the the problem results from a combination of poor analytics and the number of retail stores which both raises the scale of the problem and magnifies the consequences of an error in product mix. Gen is correct, there will always be some mark-up to have inventory in a brick and mortar retail store. The hard part is having sufficiently good analytics to have the right distribution of inventory in each retail store. Products that linger on the shelves just drive up cost.
Having tracked a few packages from Amazon, it seems that they have warehouses strategically located near major shipping points and have key inventory located there. Amazon does a good job at exposing the customer to reviews that direct a customer to a popular choice and rarely makes one think someone is blowing smoke. An algorithm isn't paid on commission like a sales associate, so the potential for a blatant, customer-alienating hard sale is less. I'm certainly not anxious to go open a retail outlet with a product mix like Best Buy these days.
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Otiswild
Posts: 5613
Incept: 2009-03-09
Inside you, the force is!
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Last appliances I bought were some tier 3 CEE washer/fridge/dryer (no CEE on the dryer, or any dryer, but it's a matched set) from the local Lowe's, and all of 'em were floor model with full warranties for about 40% off. I did actually see a receiver at Best Buy I was interested in, but they didn't have it in stock and the floor model was a bit banged up. I find some value at Best Buy when I can get a good price on their website and do a local pickup in-store from their inventory, but rarely if ever if I just go looking for something. That's probably not the greatest endorsement, but what can I do?  |
