At the moment, I go into a 7-Eleven sporadically. It's rare that I buy anything at one; however, when I am in New York or San Francisco, I almost always visit to use the ATM. My debit card works -- fee-free -- with 7-Eleven ATM machines. In those instances, something often catches my eye -- a bottle of water, two hot dogs for a buck or Colt 45 forty ounce chug -- and I make an unplanned purchase.
7-Eleven benefits from having this amenity in its store, both in direct revenue from customers who pay a bank fee and people like me who do not pay a fee, but spend money for the heck of it while there.
By telling Amazon, Listen, we have lots of square feet,... (even after the other obvious move of downsizing a bit) ... why don't you guys keep some of your inventory at our stores and distribution centers and put your Amazon Lockers in all of our stores and offer customers who choose the Best Buy/Amazon Locker option at checkout some sort of incentive to browse and buy something at Best Buy or receive face-to-face customer service while there?.
Work out some sort of complicated revenue sharing scheme. Done. Excellent idea. Benefits both parties. Potentially saves Best Buy from almost-certain death or a really boring subsistence. Gives Amazon's expansion plans a kick and possibly saves them cap ex money in the process.WhyAmISpeakingSoQuicklyAndInActionWord-FirstFragments? Because I am picturing myself in the soulless environs of a Best Buy conference room presenting this idea and being shown the door by the unimaginative suits who unfortunately still run the place ... Follow @rocco_thestreet --Written by Rocco Pendola in Santa Monica, Calif.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV