Mega Electronics retailer Best Buy has just announced they will be closing 50 store nationwide.
They plan to cut 400 jobs in an effort to stem the flow of losses. 2011 Best Buy posted $1.2 Billion in annual loss.
The company plans on scaling down retail locations to compete with monster internet retailers like Amazon.com.
If you have any doubt about the power of the internet this drastic change in business models should be enlightening.
Best Buy plans on opening 100 petite Connected Stores, where they will sell e-readers, tablet computers, cellphones, and service plans. There are currently 305 such stores in the Best Buy chain.
The familiar blue sprawling big box store may soon begin to disappear nationwide.
Real Estate marketing has been headed in the same direction. Big bull pen offices are being replaced by smaller scaled down offices. Agents are working from home and using the internet to communicate and attract buyers and sellers.
Comments(4)