All posts tagged: Innovate or Die

The Best Buy Cavern

If you’re a tech geek like me, you love Best Buy and all their latest gadgets.  This weekend, I ventured into Best Buy looking for a new digital camera.  As I walked into the store, I thought, “Wow, this place is empty, it must be a new Best Buy.”  Then, it hit me, what once was a store filled with 20+ aisles of CD’s, and DVD’s had been replaced by just 2-3 rows.  What’s more, the instrument store—an area that once sold acoustic guitars, drum sets, and recording gear—had a big sign over its door marked “clearance.”  Best Buy is also phasing out the musical instrument portion of its stores.  They simply can’t compete with the likes of Amazon (online advantage), Guitar Center (niche), and Sam Ash (niche). Up until a few years ago—when most movies and music moved from store racks to online—I was drawn to the rows and rows of CD’s.  Why not, they sold CD’s for several dollars less than every other competitor.   It’s a smart business model on the part …