Best Buy: On the Right Track?

Recently, Best Buy announced a new strategy. They plan to shutter 50 stores and migrate towards smaller stores focused on mobile and tablet sales and service.

As I noted in an earlier post on showrooming, the traditional retail model is under attack by the internet and new approaches will need to emerge for brick and mortar operations. Local companies need to figure out the unique advantages that they derive from a local presence, and to build their operations around those advantages. In the showrooming article, I mention one approach that could be used by Target (and Best Buy), but it's certainly not the only approach.

Rethinking Retail: Transforming Bricks and Mortar

Photo by Waldec

The news has had articles about retailers struggling with the concept of “Showrooming”. This occurs when shoppers come to a bricks and mortar store to touch and feel products, and then go to the internet to buy them. Most recently Target has been highlighted for sending a letter to its vendors asking them for help with the issue, but is likely a problem for other retailers with physical locations, such as Best Buy, or even WalMart.

It appears that Target is taking defensive action to protect its turf, but would it be possible to embrace the trend and take advantage of Target’s physical presence? What if Target, literally turned itself into a showroom? Consider how this would work.