May 19, 2004
Best Buy - competition from all over
To ensure the sales stay brisk and to keep the competition, not just Circuit City, but eBay, Dell, Wal-Mart and others, at bay, Circuit City is going through a $50 million store redo and changing its marketing strategy.
USA Today writes Best Buy is making a pre-emptive strike ó it's giving itself a makeover before any problems have a chance to develop.
The nation's largest electronics retailer is changing its marketing strategy and spending $50 million to redo its stores, trying to ensure that it will continue to hold off its competitors ó not longtime rivals like Circuit City, but a raft of newer players in the electronics market: Wal-Mart, Dell and eBay.
Company president Al Lenzmeier has noted said that in the past, the retailer's big changes came when it was struggling; this time it's anticipating, not reacting to, a changing marketplace. This time, he said, the competition is "much more formidable."
Consultant George Whalin said it makes sense for Best Buy to worry more about Wal-Mart, which is getting more involved in electronics retailing, and less about Circuit City.
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