Is much-hated electronics chain Best Buy spiraling out of business and into irrelevance before our eyes? Maybe. But not for a while yet. Writing for Forbes, business expert Larry Downes laid out why the company could be gradually going out of business, one Black Tie Protection Plan at a time.
Best Buy’s stock price is falling, and its market share keeps declining even as brick-and-mortar competitors like Circuit City and CompUSA have shut down. But the real reason why Best Buy might be doomed is the same reason why they’re frequently featured here on The Consumerist: the experience of shopping there tends to suck. As Downes puts it:
To discover the real reasons behind the company’s decline, just take this simple test. Walk into one of the company’s retail locations or shop online. And try, really try, not to lose your temper.
Another major piece of evidence? Big Blue and Yellow’s recent failure to fill Black Friday orders by Christmas and subsequent feeble non-apology of a press release show that the company is in a state of denial, refusing to acknowledge its real problems with inventory, fulfillment, and having a vague idea of what customers want.
Even if you don’t normally click through to source articles, take the time to check this one out: it’s a quick and engaging read (even if Forbes stretched it out to five pages to milk it for even more pageviews.)
Why Best Buy is Going out of Business…Gradually [Forbes] (Thanks to everyone who sent this in!)