Worse yet, it's probably more than a comprehension problem. This board and CEO simply do not have the capacity -- and I am talking from a big picture, how they view the world perspective -- to act big and bold enough.
I would guess the people who, according to Bell, put down the no partnership with Amazon hammer did so for at least one of two reasons: They can't swallow their pride after a good old-fashioned butt whipping or they think Amazon would laugh at them for even uttering the notion of partnership.
That's where a.) the mindset at Best Buy needs to change and b.) the company needs to send the right people into the room with Amazon. I discuss this crucial ingredient in the article I cite in the first paragraph of this piece.
Despite how bruised and battered it is -- at the hands of Amazon -- Jeff Bezos could use Best Buy.The company has a massive retail footprint that Amazon could leverage. The possibilities are endless, but chew on just a few: Customer service: Amazon offers tech support, customer service and/or warranties with many of the products it sells, particularly electronics. It would be an incredible value add for Amazon to be able to direct customers to their nearest Best Buy and the Geek Squad for these extras. Something like this scratches everybody's itch. If Best Buy has leverage on Amazon anywhere -- and it doesn't have much -- it's that it has the ability to work with customers in the flesh and guide them. That's a crucial asset Amazon simply cannot deliver. Amazon Locker, in-store pickup and same-day shipping: Depending on where you live, Amazon frequently offers the option to pick up your goods from an Amazon Locker. You order, select a location and, by the time Amazon indicates, go pick up your product at the selected location. Best Buys could become Amazon Lockers, expanding the network to most large cities and many nooks and crannies overnight. If a customer picks this option, she receives a $XX gift card to Best Buy or something of the sort. Make it a win-win.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV