hhgregg Tuesday announced its plan to expand into the Atlanta market, issuing a call to fill 70 positions for its first store in the area.
One commonly accepted assumption in modern retail is that the death of the big box store is nearing. As shoppers become increasingly comfortable using tablets, smartphones, and other gadgets to purchase, among other things, tablets, smartphones, and other gadgets, the future of big box electronics retailers such as Best Buy seems especially troubled. So how is it that one electronics chain has been able to expand in recent years, opening dozens of stores around the country, often in the spots formerly occupied by failed electronics brands like Ultimate Electronics and Circuit City?
In an effort to avoid the fate of Blockbuster, Circuit City, and others in the remainder bin of failed retailers, GameStop has embarked on a daring, if inglorious, strategy: refashioning itself from a console game purveyor into a repairer and reseller of Apple gadgets, betting that its retail visibility will prove an advantage.
Although Chief Executive Officer J. Paul Raines's 6,600 stores raked in $9.55 billion last year selling the latest Call of Duty shooters, Madden football games, and other blockbusters, the company's stock has fallen 30 percent in 2012 and is among
On July 6, 2012, various media outlets finally confirmed what Seeking Alpha readers have known since July 3, 2012 - Best Buy has started to lay off its workforce. As first described, experienced field service technicians are being cut by the company and whatever morale was left "just fell off a cliff." Of course, based on the number of Best Buy employees that have joined LinkedIn over the past three months, the company's formal layoff announcement probably confirmed what many "blue shirts" already knew
Best Buy should decide not what they should do next, but what consumers want next. The recent topsy-turvy state of consumer electronics retailer Best Buy has heads spinning. The recent board room discussion of their lack of vision is enough to set your hair on fire. Insider reports of BBY blue shirts high-fiving one another in the hallways when Circuit City crumpled-somehow thinking their competitor's downfall was thanks to their doing rather than the same market forces now bearing down on BBY makes the firm seem hallucinogenically delusional.
Joseph Schumpeter said in his theory of "creative destruction" that the "process of industrial mutation... incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of Creative Destruction is the essential fact about capitalism." I believe we're approaching a sea change in retail where physical retail is displaced by e-commerce in a multitude of categories. The argument at a high level: Online retail is relentlessly taking share in many specialty retail categories
How are Amazon's sales growing so dramatically - 30 to 40 percent quarterly for the last umpteen quarters - when even the big retailers are struggling to grow 1 to 2 percent? In record time, Amazon has taken on the Goliaths of retail yesteryear with their massive resources, nationwide store footprints and well-known brands, and turned them into isolated Davids.
In 17 short years, Amazon has grown to be the 12th largest US-based retailer, larger than even Macy's or Staples. Amazon's 2011 online sales of $48 billion dwarf every competitor's online sales
The exclusive release of the annual Dealerscope 40 Under 40.
When we asked this year's group of 40 Under 40 industry stars to share their take on the state of the economy, one of our favorite answers came from Micah Williams, owner of Sonus Car Audio in Clarksville, Tenn. "Our outlook is if you're going to stand behind the counter, clerk boxes and compete on price then the economy is bad," he said.
Tivoli Audio will join the ranks of audio companies who are fielding headphones, with the launch within the next two weeks of a single, $159.99 noise-cancelling on-ear model designed with solid-wood housings that are cosmetically in sync with the company’s signature table radios.
Best Buy hates being called "Amazon's showroom." Yet oddly, that insult may reveal a path forward for the struggling electronics giant. Some analysts think Best Buy's long-term future might rely on turning its business model upside-down. Instead of specializing in selling electronics gear, it could gradually refocus its consumer-electronics business on everything but: instruction, service, support, connections, returns, pickup - all tricky things to do online.
But most of all, Richfield-based Best Buy could embrace being a showroom. That means welcoming price-checking shoppers into the store to play