In the face of changing consumer habits and shifts in mobile technology, two business giants — Best Buy and Research in Motion — have announced changes in their business strategies.
After a weak earnings report, Best Buy says it’s going to close 50 stores and cut 400 jobs. The news comes just a couple of months after a Forbes article ran with a headline “Why Best Buy is Going Out of Business… Gradually.” The article pointed to poor and annoying customer service along with some product flops (like 3D TV) and retail’s move online as reasons for Best Buy’s slow demise.
More recently, CNET called Best Buy a showroom for Amazon. Ouch.