Best Buy Lays off 5,000 employees

[Artificial Intelligence]

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[George's Dilemma]

Best buy isn't going anywhere. It has name recognition and it's where ppl with disposable income go to buy electronics.

Laying off thousands of workers is what all retailers and other industries where physical footprint becomes less important are doing. You're going to see this happening everywhere. Space must be maximized for profit. I did some work with a company that is doing this for Walgreens. The pandemic made these companies realize that their stores are massive but do not drive sales/profits sufficient to justify the square footage. So now some sections will be removed completely and replaced by higher margin items or more likely SERVICES.

So Best Buy is gonna turn into a higher end version of Radio Shack.

 

[Saint1]

Best buy isn't going anywhere. It has name recognition and it's where ppl with disposable income go to buy electronics.

Laying off thousands of workers is what all retailers and other industries where physical footprint becomes less important are doing. You're going to see this happening everywhere. Space must be maximized for profit. I did some work with a company that is doing this for Walgreens. The pandemic made these companies realize that their stores are massive but do not drive sales/profits sufficient to justify the square footage. So now some sections will be removed completely and replaced by higher margin items or more likely SERVICES.

This is happening on restaurants. We'll see it eventually

 

[Spence]

Best buy isn't going anywhere. It has name recognition and it's where ppl with disposable income go to buy electronics.

Laying off thousands of workers is what all retailers and other industries where physical footprint becomes less important are doing. You're going to see this happening everywhere. Space must be maximized for profit. I did some work with a company that is doing this for Walgreens. The pandemic made these companies realize that their stores are massive but do not drive sales/profits sufficient to justify the square footage. So now some sections will be removed completely and replaced by higher margin items or more likely SERVICES.

They said the same about Circuit City back in the day, same with Kmart, Toys r us etc.

 

[GnauzBookOfRhymes]

They said the same about Circuit City back in the day, same with Kmart, Toys r us etc.

Different corporate circumstances. Circuit City died bc of poor management and some dumb decisions before the crash.

Different times. Toys R Us died bc kids don't play with toys anymore.

Different target markets. KMart shoppers are not same Best Buy shoppers.

 

[Spence]

Different corporate circumstances. Circuit City died bc of poor management and some dumb decisions before the crash.

Different times. Toys R Us died bc kids don't play with toys anymore.

Different target markets. KMart shoppers are not same Best Buy shoppers.

You’re statement was generalized
“It has name recognition and people go there to buy x”
Toy sales aren’t actually down at all they have been up year over year the last 5 years