It seems just yesterday that some “experts” predicted with near certainty Best Buy’s demise, brought about by Amazon’s relentless rout on retailing. So far, the company has forced the doomsayers to back off. Here’s what Best Buy is doing to avoid death by Amazon:
· Talking to customers: they let you know what needs to be done
· Price-matching to stop “showrooming”
· Send in-home advisers to help customers select the right electronic equipment
· Ship website orders from nearest store to get there faster
· Create in-store branded areas featuring product lines: Samsung, Apple, Microsoft, and Amazon
· Always be ready to change: trends don’t last forever
How did all this come about, both decisively and rapidly? Fresh eyes made it happen, those of Hubert Joly, the new CEO, who was personally involved every step of the way. He even talked to customers!
Takeaway: When we’re personally invested in what we’re doing now, it’s easy to become defensive and unable to see what’s actually happening. Fresh eyes can help us see what we’re missing.
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