Beleaguered electronics retailer Best Buy is taking a tentative step to turn its fortunes around by cribbing from Apple’s playbook. The Wall Street Journal reports that the chain is testing a prototype store near its Minnesota-based headquarters that mimics signature Apple features such as its Genius Bar. Best Buy’s “Solution Central” will be manned by members of its Geek Squad. The move is part of the strategy to save the company an estimated $800 million over the next three years and gain back marketshare. Best Buy’s already laid off 400 employees and will close 50 underperforming outlets and convert another 60 to this new, smaller space. Read the full story at Forbes.
About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and writes a popular daily business blog. He's a bestselling author, and the creator of the popular, free online course, Generative AI for Execs. Follow @shellypalmer or visit shellypalmer.com.