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 AI strategy, implementation and governance, as well as technology, media and marketing. Named one of LinkedIn’s Top Voices in Technology, he is a bestselling author, covers tech and business for Fox 5’s Good Day New York, is a regular commentator on CNN, and writes the popular daily business blog Think About This. Follow @shellypalmer or visit shellypalmer.com.