RE: [CANSLIM] BBY

From: "Fred Richards" <adrich@gte.net>
Subject: RE: [CANSLIM] BBY
Date: Sun, 31 Mar 2002 18:38:06 -0600
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Tom,

If you have the opportunity to speak with their upper management or review
their vitae's, you might understand the problem with BBY.  It's the people!

I have always said that to be successful you only have to need good people,
quality products at realistic prices, and the best customer service in the
industry.

Of course, many entrepreneurs and top management types don't agree.

- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Tom Worley
Sent: Sunday, March 31, 2002 6:13 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] BBY


Good analogy, Tim, I had forgotten IU, as it didn't last that long here.
Great concept poorly implemented.

BBY here spends a lot more advertising $$ than other similar retail stores,
so that's their cost of poor customer service. Still surprising to me that
they are staying in business while they turn off customers they have spent
advertising $$ to attract.

Tom Worley
stkguru@bellsouth.net
AIM: TexWorley
- ----- Original Message -----
From: "Tim Fisher" <Tim@orerockon.com>
To: <canslim@lists.xmission.com>
Sent: Sunday, March 31, 2002 7:05 PM
Subject: Re: [CANSLIM] BBY


I only have one observation for you, Tom: "Incredible Universe"

Actually to be a bit less cryptic I predict they will go the way of IU, as
their stores are run the same (shabbily), their service is non-existent,
they continually try to goad you into getting their card (remember the
Incredible Universe Credit Card at 21% interest that was practically the
only form of credit they accepted?) and their prices are so-so. The LCD
monitor I am staring at right now is courtesy of Best Buy's ludicrous
return policy; it was bought by my wife as an Xmas present at a rather
extravagant price ($150 higher than Costco on the same monitor) and I was
not able to return it for some arcane reason which I still don't understand
and is probably worth a small claims court suit. Needless to say I will
never walk in there again.

At 05:30 PM 3/31/2002 -0500, you wrote:
>I continue to be surprised by just how well Best Buys is doing as an
>investment. Some years ago, they refused to accept my check for payment,
>claiming it was an "out of state" check. Granted, the hometown of my credit
>union is Norfolk, VA, but there are two local branches in Dade County. I
>insisted on speaking with a manager, who stuck by the cashier's
>interpretation. So I walked out and never went back.
>
>My son has been trying to buy a CD burner for over a week on the net. Last
>time he tried, BestBuy's site claimed my credit card was "over the limit",
>which was not even remotely true. Then they claimed (after being contacted
>by phone) that maybe it was the hour of the day and the credit union was
>running end of day processing, blocking their access to confirm credit.
Also
>not true, as I had no trouble getting into the account at the same time.
>
>Today, in the middle of Easter Sunday afternoon, with all the malls and
>stores locked up tight, including Best Buy (never realized Easter was such
a
>big holiday), my son again tried to buy online from Best Buy, and got the
>exact same result. Again, phoning did no good, nor were they willing to
>honor the price of a week previous. While still on the phone with BBY, a
>friend sent him the URL for L-Buy.com, where the price was $25 cheaper than
>what BBY would do, and $5 cheaper than BBY offered a week ago. My son
>offered the site to the BBY representative as proof that their new price
was
>too high. She still would not process the order by hand, nor honor last
>week's price when they refused the order. Too bad, no surprise, his order
>was accepted immediately by L-Buy, for shipment within 2 days. And Best Buy
>has now lost another previously loyal customer who was not willing to
accept
>my opinion and attitude towards the company, until experiencing it first
>hand.
>
>Bottom line for me, aside from my son's illusions being shattered about
Best
>Buy, is that their customer service practices are endemic to the
>corporation, and no better than they were some years ago. A retailer cannot
>survive in business, much less in difficult economic times, without good
>customer service.
>
>Tom Worley
>stkguru@bellsouth.net
>AIM: TexWorley

Tim Fisher
Ore-ROCK-On Rockhounding Web Site
Owner, Fisher Fisheries, Ltd.
mailto:tim@OreRockOn.com
WWW http://OreRockOn.com


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