I read several articles last night discussing Best Buys failure as a brick and mortar. The articles talk about how the company is still profitable, but continues to miss revenue expectations. This isnt surprising, as the trend in retail is to shop online. All of Best Buys cost cutting and reorgs seem to have a few common issues: the loss of great talent, asking employees to do more for less, and a much smaller chance of achieving bonus. Survey says, more work for less money negatively impacts the employees experience and employees attitude, resulting in less drive to have quality customer interactions and product knowledge. A customers in-store experience at Best Buy can be impacted by the power of its employees, the power of people. Price matters, but if that were the only reason, customers would shop solely online. If Best Buy brick and mortars want to survive and again flourish, it needs to find a way to truly unleash the power of its people and bring back the fun and exciting shopping experience it once had. The commercial below for Volvo makes a lot of sense to me and I think Volvo gets it. https://youtube/watch?v=hi8qyOUGTVA
Posted on: Wed, 27 Aug 2014 18:41:35 +0000
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