Best Buy To Exit Physical Media Business In 2024 (1 Viewer)

[Robert Crawford]

However you look at it Rob, like Sears and many other brick and mortar retailers of the past, if they cannot adjust or adapt to today's consumer standards and such, they'll be the next to go and the way Best Buy is running their operations as of late, hence why I'm "predicting" they will go under by this time next year. They're completely overpriced, terrible customer service and they cannot even adhere to their own price-matching policies and low stock quality of items in their stores.

For the record, the two remaining Kmart stores are in a small suburb in New York and in Miami, FL and I must admit I didn't hear of some Sears stores re-opening and why Lambpert would even do that is just more mind-boggling to say the least.

My name is Robert. I’m not disputing your reasoning for why they’re going out of business. I’m just saying that it’s not a good thing for a couple of reasons that I already stated beforehand.

 

[TravisR]

...and the way Best Buy is running their operations as of late, hence why I'm "predicting" they will go under by this time next year.

The slow pace of bankruptcy (which Best Buy hasn't entered into) makes that timeline basically impossible. I'm not saying that BB's prospects are particularly bright but even if they declared bankruptcy today, their stores would likely linger on for a few more years.

 

[Indy Guy]

But like Fry's and even Sears, when the rot becomes a deterrant to customer satisfaction, people stop going. Often that happens a year or two before doors finally close.
That moment for Best Buy is rapidly approaching.

 

[mylan]

I don't get all the hate for Best Buy and I don't think they are going anywhere anytime soon. I am a Total Tech member and I am all in. I pay $179.99 a year for the privilege of less expensive installs, two year warranty on anything I buy. If I lose one of my earbuds they are replaced at no cost. I bought a KitchenAid refrigerator this year on sale, from $3,500 to $2,800 free installation and removal of the old one and a $200.00 BB gift card in which I then bought my wife a new iPad with. That gift card brought the price to less than Home Depot of Lowes was selling for, previously I bought KitchenAid dishwasher from them, same deal, same price, and free installation and removal.
Today a Geek Squad guy is installing my new Denon X4800H receiver that I got on Black Friday, on sale from $2,500 to $1,700 (!!) for $130. I used to do this myself but being 59 with bad knees I no longer am able. He's going to teach me how to calibrate using Audyssey X32, something I am not familiar with. Hopefully this a big step up from Y.A.P.O. which I am familiar with.
The BB store in my city is nothing to write home about but the Magnolia store where I usually shop is home to higher end appliances, electronics, and kiosks for a hands on approach. The four different home theater rooms are set up good, better, and best. I am like a kid in a candy store whenever I go in.
As far as physical media, I get it, as a collector of vinyl albums, I have crates and crates full as well as over 300 CD's and maybe 150 movies on Blu Ray and 4K but I've found out the surest way to get me to never watch a movie again is for me to buy it on physical media. I haven't even turned on my blu pay player in ages but will soon, I got Oppenheimer on 4K Blu ray because of the better quality than streaming and IMAX.
I do not think Best Buy is in any danger of going out of business anytime soon but their business model is evolving, as it should.
Oh yeah, that Total Tech has saved me about a thousand dollars this year alone on products, installation, and service calls.

 

[TravisR]

I don't get all the hate for Best Buy and I don't think they are going anywhere anytime soon.

I don't have a problem with Best Buy but for me, they have almost always been a place to buy discs. If they don't carry them anymore, I won't have much reason to go there.

 

[Robert Crawford]

I don't have a problem with Best Buy but for me, they have almost always been a place to buy discs. If they don't carry them anymore, I won't have much reason to go there.

I bought my share of other products from them.

 

[TravisR]

I bought my share of other products from them.

Me too but I think the only thing I've bought there in the last decade (outside of movies) was a cell phone cover.

 

[jayembee]

So have I, and some expensive products, too. But all in all, I'd aver that I'd spent more money with them on CDs/DVDs/BDs/UHDs than on anything else.

 

[Robert Crawford]

Me too but I think the only thing I've bought there in the last decade (outside of movies) was a cell phone cover.

I bought TVs, 4K players, microwaves and other things from them over the last five years.

 

[TravisR]

I bought TVs, 4K players, microwaves and other things from them over the last five years.

I'm thinking about getting a new TV and I'd like to see my options in person so I will check out the selection at Best Buy. Other stuff like Blu-ray or UHD players, I generally buy on Amazon.

 

[Robert Crawford]

I'm thinking about getting a new TV and I'd like to see my options in person so I will check out the selection at Best Buy. Other stuff like Blu-ray or UHD players, I generally buy on Amazon.

I’m just saying that many people buy more than home video software from them. Otherwise, they wouldn’t be eliminating physical media.

 

[Scott Merryfield]

I'm thinking about getting a new TV and I'd like to see my options in person so I will check out the selection at Best Buy. Other stuff like Blu-ray or UHD players, I generally buy on Amazon.

The last several TV's I bought were from Best Buy, but I never did this in the store. I did my research of different models online, placed the order online and either picked it up in store or had the TV delivered. Since TV's are rarely calibrated properly in the stores (and the lighting sucks), I do not find it useful to physically see the product.

I could see Best Buy hanging around as a combination retail / service organization with their Geek Squad. There are a lot of people out there who need technical assistance with computers, smart phones, etc. However, I'm not sure those services will be able to support their current number of retail stores. I could see the company consolidating in areas where they have multiple store fronts. For example, there are at least 5 Best Buy stores within about a 30-40 minute drive from our Michigan home. Considering the limited foot traffic they seem to have these days, that's probably too many for the area.

Personally, I do not have any use for BB's technical support. I'm actually the Geek Squad for our family. The only assistance I've needed recently is someone to help me physically install the last few TV's, as they were too big for my wife to help me lift -- although she did help me carry a dead 65" and 70" display to the trash. I can always find a family member or friend to help with that grunt work.

 

[Malcolm R]

The slow pace of bankruptcy (which Best Buy hasn't entered into) makes that timeline basically impossible. I'm not saying that BB's prospects are particularly bright but even if they declared bankruptcy today, their stores would likely linger on for a few more years.

Probably depends on the company and the process. Bed Bath & Beyond declared bankruptcy in April 2023 and all stores were closed by the end of July 2023. Regional chain Christmas Tree Shops declared bankruptcy in May 2023 and all stores closed by the end of August 2023. Seems like it can be a very fast fall.

But like Fry's and even Sears, when the rot becomes a deterrant to customer satisfaction, people stop going. Often that happens a year or two before doors finally close.

True. Rumors of bankruptcy and/or closing can cause a downturn in sales for businesses as customers seem to stop going to stores and restaurants operating under a cloud even before they make any official announcements.

 

[Tino]

. Went for the C3 as it fit my current budget better. Being delivered on Saturday. $2k after gift cards

So Best Buy just delivered the LG C3. Beautiful set. And I didn’t know but am getting a $200 e-gift card too.

Question. Can someone recommend here or point me to another thread on what settings I should have on and off? Thanks in advance.

 

[Mark Booth]

I used to buy something in a Best Buy store 3-4 times a month. For 2023 I think I've been in a Best Buy store once. It seems doubtful I'll go into one at all during 2024.

Mark

 

[rmw650]

My name is Robert. I’m not disputing your reasoning for why they’re going out of business. I’m just saying that it’s not a good thing for a couple of reasons that I already stated beforehand.

Sorry for not stating your full name, Robert, but again, at the rate they're going about doing business and lingering towards a pattern or path like Toys R Us and Sears and a vast array of other stores have been conducting business and not truly satisfying customers' interests, PLUS being out of the loop with the growing demands of online business growing at such a rapid rate and other things, this was why I was "predicting" (again, just an opinion of what I think MIGHT happen to them but didn't say it WILL happen) they will be the next retailer to go under by next year's end. Just look at Bed Bath and Beyond as an example of a quick business liquidation when they couldn't meet the demands of their consumers.

You're free to read into what I wrote as you wish to interpret it as such, but I guess we'll see what ends up happening as the new year progresses. Stay tuned.

 

[cineMANIAC]

Things like microwaves and other small to medium-sized kitchen appliances I'd rather get shipped from either Walmart or Amazon. I don't drive so I'm dependent on public transit so I'm not lugging that stuff on the bus. Their Magnolia showrooms are nothing more than demo rooms for expensive stuff I can't afford. Even if I could afford that stuff, I think I'd rather shop at dedicated high end shops since they'll have much more variety and personalized service. The teens that work at BB look like they'd rather be making out in broom closets or skateboarding lol. I'm not a tech geek so I don't need them for gadgets or even cell phones. I only buy phones about once every 5 years on average unless I lose one and only from dedicated outlets like an AT&T store. Bottom line: if they're out of the physical media business, they're not a store for me.

 

[Peter Keller]

Best Buy will no longer sell DVDs and Blu-rays from their 1129 stores

The decision to end selling DVDs and Blu-ray in stores was made due to the shift in the way consumers are watching movies and TV shows.

www.dailymail.co.uk

 

[Peter Keller]

“Physical media can't be altered. Digital media you "own" online can and will be. If you have any movies or TV shows you love you should find DVDs or even VHS tapes of them while you still can.”

 

[smithbrad]

I haven't been in a BestBuy in over a decade. I tend to find my kitchen appliances at Home Deport or Lowes. I buy my TV's , some smaller appliances, and computers from Costco for their price and easy return, if needed. General purpose things on Amazon. The only thing I've used BestBuy for is transferring PayPal dollars into Amazon gift cards.