Occasionally Best Buy will come up with a good idea but most of the time they will copy from other companies because the ideas they come up with internally usually produce poor results. This week, Best Buy has announced that they've ignored the success of their web sales for far too long and are going to restructure to a new business model that tailors to web sales, to compete with Amazon.com.
Additionally, Best Buy will also look to bring more selection to their web-only inventory and will lower the prices on those items, clearly to match the competition in order to not fail on another idea. The company has also said they will be shrinking the footprint of their storefronts as the leases expire, more than likely due to placing emphasis on the high dollar, low margin end-products like their Magnolia TV selection. Best Buy has also said they will be considering closing some of their larger stores completely.
Want to know more on how this will all play out? Click the break.