My observation in the years leading up to the online giants dominating some markets (electronics for example), was that retail stores that could adequately guide customers was rapidly declining.
Medical supply is probably a different category, where expertise is more important than others. But in more common examples, when I would go to a store and already knew more about their product lines than the salespeople, the local price difference was a turnoff. I'm happy to pay a reasonable uplift if a vendor can educate, guide or support me as a customer. But when few of them can, I literally have no reason to patronize them.
As fast shipping became an option, there was less and less reason to go to a showroom other than to independently look at a product person. In 2020, I don't even care about that, because return policies are liberal.
My favorite case example is CircuitCity [1]: "In 2003, Circuit City converted to a single hourly pay structure in all stores, eliminating commissioned sales. Many previously commissioned sales associates were offered new positions as hourly "product specialists", while 3,900 salespeople were laid off, saving the company about $130 million per year. Many company insiders later revealed that they thought this was the most influential company decision that would ultimately lead to its demise."
Lowering costs by eliminating qualified and experiences salespeople, attempting to become an expertise-less local storefront competing on price with businesses that have lower costs was a suicide move, and endemic of executives attempting to run companies based _purely_ on a bottom line, without actually understanding the market they are in. "Excel Excutives" in my words.
On the other hand, I have begun doing more business with BestBuy this year. Not because they have changed their level of in store expertise, but because when I need something, they can compete with Amazon in some cases on a combination of price and convenience. I can find if their store has something, the quantity, and have it in hand with no more than drive time. In the work-from-mode many of us are in, this can be a big deal. Plus, I can get appliances from them with installation, and office furniture from their delivery services that is a bit of a gamble from Amazon, who so far is not as convenient for "big box" shipping.
I hope BB continues what they are doing, because they seem to have figured out some of the variables to _adapt._ IMO innovation is not the problem, adaptation is. No business can survive if they don't adapt to fickle consumers where a significant portion of them will always use the resources available to them while simultaneously seeking to save money.
This is a similar observation I've made on BB. When CC went under, I was fairly certain that BB was on the chopping block next, and I though Fry's would be the last one standing. Forward 15 years and the fortunes of BB and Fry's seem vastly different. Although I'm not sure how they accomplished this, buying last second supplies over the last few years when I ran a business shifted back to BB, because they managed their inventory better than Fry's and had more items in stock when we needed it in a pinch. So convenience and sufficient selection, with good enough prices are somewhere in that playbook
In a similar vein, it seems like at least in the Midwest, Micro Center has completely cornered the computer and parts market in any town where it operates, and the stores are packed to the gills with parts, decent prices, and customers (especially this year it seems).
Total opposite of Frys, or the late CompUSA or Circuit City.
Best Buy isn't packed, but they always have some activity in the locations I frequent, and they also have decent prices and good selection when you need things local.
The experience you've had with BestBuy sounds very similar to Argos here in the UK. They have local stores, some based out of supermarkets, you can see if things are in stock and reserve + pick it up within the hour. They're usually competitively priced with Amazon, they're open late, and they don't have fake items.
Medical supply is probably a different category, where expertise is more important than others. But in more common examples, when I would go to a store and already knew more about their product lines than the salespeople, the local price difference was a turnoff. I'm happy to pay a reasonable uplift if a vendor can educate, guide or support me as a customer. But when few of them can, I literally have no reason to patronize them.
As fast shipping became an option, there was less and less reason to go to a showroom other than to independently look at a product person. In 2020, I don't even care about that, because return policies are liberal.
My favorite case example is CircuitCity [1]: "In 2003, Circuit City converted to a single hourly pay structure in all stores, eliminating commissioned sales. Many previously commissioned sales associates were offered new positions as hourly "product specialists", while 3,900 salespeople were laid off, saving the company about $130 million per year. Many company insiders later revealed that they thought this was the most influential company decision that would ultimately lead to its demise."
Lowering costs by eliminating qualified and experiences salespeople, attempting to become an expertise-less local storefront competing on price with businesses that have lower costs was a suicide move, and endemic of executives attempting to run companies based _purely_ on a bottom line, without actually understanding the market they are in. "Excel Excutives" in my words.
On the other hand, I have begun doing more business with BestBuy this year. Not because they have changed their level of in store expertise, but because when I need something, they can compete with Amazon in some cases on a combination of price and convenience. I can find if their store has something, the quantity, and have it in hand with no more than drive time. In the work-from-mode many of us are in, this can be a big deal. Plus, I can get appliances from them with installation, and office furniture from their delivery services that is a bit of a gamble from Amazon, who so far is not as convenient for "big box" shipping.
I hope BB continues what they are doing, because they seem to have figured out some of the variables to _adapt._ IMO innovation is not the problem, adaptation is. No business can survive if they don't adapt to fickle consumers where a significant portion of them will always use the resources available to them while simultaneously seeking to save money.
[1] https://en.wikipedia.org/wiki/Circuit_City#2000s