Ugly Hedgehog - Photography Forum
Home Active Topics Newest Pictures Search Login Register
Main Photography Discussion
What is Best Buy's problem?
Page <<first <prev 4 of 6 next> last>>
Mar 7, 2023 13:35:32   #
gwilliams6
 
What everyone is saying is so true.

You can go to Lowes or Home Depot for appliances, you can go to Costco, Sam's Club or Walmart for TVs, computers and some cameras. And of course you can go online to shop for anything and everything (including going to Best Buys online).

Only a few Best Buys stores were EVER slated to have the bigger camera departments anyway, and that number has surely decreased due to slow Best Buys in-store revenues nationwide .

Best Buys Financial status:
"It has current liabilities of $10.67 billion, slightly increasing from $10.5 billion in 2021. The total capitalization for the fiscal year 2022 was $4.15 billion, a decrease from $5.7 billion in 2021. Its working capital at the end of the fiscal year 2022 was negative $135 million, down from $2.02 billion in 2021.Sep 10, 2022"

Best Buys' online sales have helped its bottom line recently:
" After being down, Best Buy's (NYSE:BBY) stock is up by a considerable 34% over the past three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes.Jan 18, 2023"

Cheers and best to you all.

Reply
Mar 7, 2023 13:39:01   #
gwilliams6
 
*

Reply
Mar 7, 2023 14:30:47   #
bobbyjohn Loc: Dallas, TX
 
Canisdirus wrote:
Camera sales are way down...shelf space is a premium for these all in one electronic box stores...which are also disappearing.

It's just business as usual.

Yup! I used to shop at Fry's Electronics store frequently. About 2 years ago, Fry's went belly up. Can Best Buy be far behind?

Reply
 
 
Mar 7, 2023 15:28:48   #
goldwragg Loc: Largo, Florida
 
Could it possibly be one of the stores they are closing.

Reply
Mar 7, 2023 16:10:53   #
gener202002
 
kb6kgx wrote:
Is it just my local store or does Best Buy want "out" of the camera business?

Maybe it IS just my local store (Simi Valley, CA). I was just in there today and there were literally only THREE cameras on display, a Sony A6000 and two entry-level Canon DSLRs. Not a single camera from any other manufacture, even the digital camcorders were nowhere to be seen. A few bags, a few tripods, that was pretty much it.

Compared to the store closest to my work (Woodland Hills, CA), where they have literally the complete current production line of Nikon, Canon and Sony, from pocket point-and-shoots to the highest-end DSLRs, plus the full lineup of lenses for all three. For Nikon, just to name one, everything from the 50mm f1.8G all the way to the "Holy Trinity" and even the 200-500 is on display.

So, maybe, it's a regional thing. Maybe my town isn't as affluent as where the other store is located. But, MY store, at least, looks like it isn't interested in selling cameras anymore. I have two independent camera stores near me. One closer to my work, but I don't get a good "vibe" when I'm in there, and the other store, which is about a half-hour drive in the opposite direction, but where they really know me and appreciate my being there. Fewer and fewer independent stores are still around. Many disappeared because of the "big box" stores, but even some of those, like MY Best Buy, are phasing it out.

Sad.
Is it just my local store or does Best Buy want &q... (show quote)



There are very few in the store here as well. However, they have most cameras available online. Which I think is the wave of the future. The majority of store items I think will soon go away in all stores. Not that the store in total will go away. But shipping seems to be the wave of the future. However, I have also heard that the supply lines will become very sketchy later this year as well.

Reply
Mar 7, 2023 19:50:44   #
Bridges Loc: Memphis, Charleston SC, now Nazareth PA
 
gwilliams6 wrote:
A few years ago I was one of the pro photographers hired and paid by Best Buys to launch bigger camera departments in some of the bigger Best Buy stores in each geographical region of the USA. For the first couple of weeks I and fellow pros around the country taught some in-store photo classes and introduced the new bigger photo departments. Then we were thanked and that was it.

Best Buys had their own store camera sales department staffers, some decent photographers on their own. IMHO, I think it never took off across the country like Best Buys had hoped. And Best Buys own store revenues have shrunk as more people shop online, and/or even at big-box discount warehouse stores like Costco and Sam's Club for electronics and cameras.

You hardly ever find a dedicated and truly knowledgeable photo salesperson in any of the Best Buys photo departments nowadays, as their remaining employees are asked to sell in all departments as staffing has been cut.

Also Best Buys has gotten something of a troubling reputation with its photo sales. Stories from Best Buys photo customers across the USA talk of decent sales pricing, but then horror stories about obtaining returns and refunds, with huge restocking fees charged.

One example: a fellow Facebook friend of mine wanted to buy a Sony 70-200mm f2.8 GM to cover soccer games of her kids. The version one of that lens, though very good, is six years old in optical design and focus motors. I recommended she wait as the version two of that 70-200mm f2.8 GM was just about to be released and was going to be much sharper and much faster focusing with dual linear motors.

She went ahead and bought the version one and within ten days the new, much better version two was out . She had not even used the version one copy yet, and tried to return it to her Best Buys, only seeking a refund or store credit so she could buy the newer version two 70-200mm f2.8 GM from them, which was a bit more costly . Best Buys told her they would only take it back with a 20% restocking fee, just outrageous. That lens is a $2000 USD lens, so they wanted her to lose $400. So she just kept the lens.

I guess if you price compare with other local camera stores and dealers like B&H, Adorama, Robert's Camera, Allen's Camera and the same photo gear item at Best Buys is cheaper, then buy there, but dont expect the same kind of service after the sale of the best reputable camera dealers. And dont expect to return the item without a huge restocking fee.

BTW in over five decades as a photographer, I have never had to pay a restocking fee when making a return of undamaged /unused gear within the listed return period.

Cheers and best to you.
A few years ago I was one of the pro photographers... (show quote)


When I first got into digital, I tried an Olympus series 300 & then the 500, and a Canon Rebel Ti but did not really care for them. Then Nikon released the D3 and D300 and those were a game changer! I bought the D300 shortly after it hit the market. It cost me 1699.98 from Best Buy. That is the only camera equipment I have ever purchased from them other than some SD cards.

Reply
Mar 7, 2023 20:29:40   #
BArthur3
 
My local Best Buy in southern NH still has a "reasonable" selection of cameras and lenses -- but very definitely down from years past. And selection/availability of addons/accessories (filters, camera bags, tripods) is way-way down. They've also made a really significant change to the loyalty program: no longer covering purchases by program regulars, now limited to their credit card holders only.

Reply
 
 
Mar 7, 2023 21:56:51   #
tropics Loc: NW Georgia
 
Iron Sight wrote:
On line shopping is growing more everyday.


The Best Buy closest to me closed their doors a few month back. There is another one 50 miles away so I guess I will be taking it off my list.

Reply
Mar 8, 2023 06:13:59   #
paulrph1 Loc: Washington, Utah
 
kb6kgx wrote:
Is it just my local store or does Best Buy want "out" of the camera business?

Maybe it IS just my local store (Simi Valley, CA). I was just in there today and there were literally only THREE cameras on display, a Sony A6000 and two entry-level Canon DSLRs. Not a single camera from any other manufacture, even the digital camcorders were nowhere to be seen. A few bags, a few tripods, that was pretty much it.

Compared to the store closest to my work (Woodland Hills, CA), where they have literally the complete current production line of Nikon, Canon and Sony, from pocket point-and-shoots to the highest-end DSLRs, plus the full lineup of lenses for all three. For Nikon, just to name one, everything from the 50mm f1.8G all the way to the "Holy Trinity" and even the 200-500 is on display.

So, maybe, it's a regional thing. Maybe my town isn't as affluent as where the other store is located. But, MY store, at least, looks like it isn't interested in selling cameras anymore. I have two independent camera stores near me. One closer to my work, but I don't get a good "vibe" when I'm in there, and the other store, which is about a half-hour drive in the opposite direction, but where they really know me and appreciate my being there. Fewer and fewer independent stores are still around. Many disappeared because of the "big box" stores, but even some of those, like MY Best Buy, are phasing it out.

Sad.
Is it just my local store or does Best Buy want &q... (show quote)


Best Buys is a believer in "token stores". My store is a token store and so I seldom visit.

Reply
Mar 8, 2023 07:10:14   #
Charles Loy Loc: Wichita Kansas USA
 
Best Buy is playing on the internet game well, with the camera gear. Usually you can an order and get next day delivery at no extra charge.

Reply
Mar 8, 2023 09:38:18   #
charlienow Loc: Hershey, PA
 
A couple years ago the Best Buy in Harrisburg pa underwent an extensive remodel.

When they reopened there were practically no cameras on the shelves in the camera section. Also very few accessories too. Before they had a lot of cameras and were the only place nearby where you could shop cameras. I bought a couple cameras and some lenses from them as well as accessories.

It’s not only the camera department that is lacking in merchandise. I don’t even bother going in there anymore to shop.

Chuck

Reply
 
 
Mar 8, 2023 12:10:48   #
larryepage Loc: North Texas area
 
Best Buy and all other big box stores are built around selling high volumes from their stock. As the photography market continues to shrink, it no longer fits this model. I would expect a time may come when Best Buy no longer stocks photographic equipment at all.

Reply
Mar 8, 2023 12:20:25   #
henryp Loc: New York, NY
 
Sidwalkastronomy wrote:
In nj you pay tax if the company has a brick and motor place on the state. If you buy out of state they sometimes call it a user tax. They seem to crack down on not charging sales tax


The SCOTUS decision South Dakota v. Wayfair Inc., allows states to require sales tax be collected and remitted without resorting to the old "use tax" programs.
https://www.nytimes.com/2018/06/21/us/politics/supreme-court-sales-taxes-internet-merchants.html

Reply
Mar 8, 2023 13:00:00   #
ClarkJohnson Loc: Fort Myers, FL and Cohasset, MA
 
Canisdirus wrote:
Camera sales are way down...shelf space is a premium for these all in one electronic box stores...which are also disappearing.

It's just business as usual.


It’s not necessarily a shelf space issue. In the pathetic Best Buy I visited yesterday, they had display spots and signage for plenty of cameras, just no cameras to sit in their places, and presumably no inventory to sell. Supply chain issues? Open-to-buy limitations? Pretty discouraging.

Anyone remember BBY’s foray into the musical instrument business?

Reply
Mar 8, 2023 13:11:19   #
JackB
 
kb6kgx wrote:
Is it just my local store or does Best Buy want "out" of the camera business?

Maybe it IS just my local store (Simi Valley, CA). I was just in there today and there were literally only THREE cameras on display, a Sony A6000 and two entry-level Canon DSLRs. Not a single camera from any other manufacture, even the digital camcorders were nowhere to be seen. A few bags, a few tripods, that was pretty much it.

Compared to the store closest to my work (Woodland Hills, CA), where they have literally the complete current production line of Nikon, Canon and Sony, from pocket point-and-shoots to the highest-end DSLRs, plus the full lineup of lenses for all three. For Nikon, just to name one, everything from the 50mm f1.8G all the way to the "Holy Trinity" and even the 200-500 is on display.

So, maybe, it's a regional thing. Maybe my town isn't as affluent as where the other store is located. But, MY store, at least, looks like it isn't interested in selling cameras anymore. I have two independent camera stores near me. One closer to my work, but I don't get a good "vibe" when I'm in there, and the other store, which is about a half-hour drive in the opposite direction, but where they really know me and appreciate my being there. Fewer and fewer independent stores are still around. Many disappeared because of the "big box" stores, but even some of those, like MY Best Buy, are phasing it out.

Sad.
Is it just my local store or does Best Buy want &q... (show quote)


I was at Best Buy today in Colorado Springs, CO. Very large store and the camera displays were very large and complete. They were exhibiting every current camera brand and model that is on the market. They also had a huge display of mirror-less only cameras. Just guessing but there must have been at least 30-40 cameras on display. My only problem with Best Buy has been there pricing and the ignorant sales people. They are getting better with pricing and competing with the online resellers. I purchased a 4K Sony DVD player within $4 of Amazon pricing. The salesperson that helped me could not answer one question about the product.

Reply
Page <<first <prev 4 of 6 next> last>>
If you want to reply, then register here. Registration is free and your account is created instantly, so you can post right away.
Main Photography Discussion
UglyHedgehog.com - Forum
Copyright 2011-2024 Ugly Hedgehog, Inc.