For Best Buy, advice is cheap (part 1)

Some fast-moving recent events at Best Buy triggered several comments on RetailWire, including the following:

Even before Mr. Dunn’s departure (apparently for reasons pertaining to personal conduct rather than company performance), Best Buy has become a deeply troubled giant. It needs a more nimble, forward-thinking leader and whether this person comes from inside or outside is irrelevant as long as he or she can look at the business with a fresh pair of eyes.

Best Buy has not capitalized on fast-moving changes in tech product development (such as the explosion of tablet computing), nor its own core strength in customer service. It has lost share to e-commerce sites like Amazon, and stood by while players like Apple have provided a more innovative in-store experience (granted, with a much narrower, single-brand assortment).

The bloggers’ declaration of Best Buy’s demise is premature: It is still a $50 billion company and the dominant “big box” in its category. But it’s time to reinvent the idea behind Best Buy at a faster pace than Mr. Dunn was prepared to do.

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