21–30 of 32 posts
They go out and find unique gadgets to sell at high markups in malls. It would be interesting to see that format adapted to Best Buy's "big box" real estate and store format. (In other words it is hard for me to imagine how it would work.)
Not exactly my field, but my understanding is that large retailers sometimes do do outsourced product development roughly similar to this post's suggestion. Typically, that is a result of someone in direct sales building a monstrously successful product (relative to other direct sales items), then using that as leverage to get the chain to stock it on terms which are more favorable than their usual ones. (Consumer el…
This. Too many people confuse distribution and product development. While I laud the OPs suggestion that retailers like Best Buy might be more competitive if they could source products that Amazon cannot, there is an existence proof for this called "Pier 1 Imports" whose "special sauce" consisted almost entirely with seeking out niche suppliers, locking up a retail relationship with them, and putting their stuff into…
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This hypothetical business model exists already: It's called Brookstone. They go out and find unique gadgets to sell at high markups in malls. It would be interesting to see that format adapted to Best Buy's "big box" real estate and store format. (In other words it is hard for me to imagine how it would work.)
I think retail is going to become a very interesting space over the next 10 years as the Big Box model gives way to an Amazon same day solution on one side and a high touch, high service model on the other.
Not exactly my field, but my understanding is that large retailers sometimes do do outsourced product development roughly similar to this post's suggestion. Typically, that is a result of someone in direct sales building a monstrously successful product (relative to other direct sales items), then using that as leverage to get the chain to stock it on terms which are more favorable than their usual ones. (Consumer el…
This. Too many people confuse distribution and product development. While I laud the OPs suggestion that retailers like Best Buy might be more competitive if they could source products that Amazon cannot, there is an existence proof for this called "Pier 1 Imports" whose "special sauce" consisted almost entirely with seeking out niche suppliers, locking up a retail relationship with them, and putting their stuff into…
This hypothetical business model exists already: It's called Brookstone. They go out and find unique gadgets to sell at high markups in malls. It would be interesting to see that format adapted to Best Buy's "big box" real estate and store format. (In other words it is hard for me to imagine how it would work.)
What self-respecting Consumer Electronic Startup would sell themselves to Best Buy?
Or maybe there's a market for independent electronics stores to sell independent gadgets.
Interesting information point to add: Chumby designed a product for Best Buy (the Insignia Infocast). Not sure how successful it was, but I'm pretty sure that there are a lot of details that we are not privy to.
The Infocast was a nice little product. I have one sitting next to me right now. It was not, however, a big sales success. I bought mine on closeout in late 2010. Part of the problem was that Best Buy didn't know where to put the thing, nor how to market it. The 3.5" model was sitting next to the alarm clocks. The larger 8" model was sitting next to the Sony Dash in the picture frame area. You can figure out the rest…
Interesting information point to add: Chumby designed a product for Best Buy (the Insignia Infocast). Not sure how successful it was, but I'm pretty sure that there are a lot of details that we are not privy to.
The Infocast 3.5" (basically the chumby One in a different box)
The Infocast 8" (basically the chumby 8 in a different box, though the Infocast 8" preceded the release of the chumby 8)
An Insignia/TIVO co-branded television set (TIVO did the main UI for that device, but it didn't have DVR capability) and chumby did a bunch of apps for it.
So, yeah, Best Buy actually outsources development of a lot of products under the Insignia, Rocketfish, Dynex, etc brands, so this business being suggested isn't new to them... they are already in it. But they generally just make "me too" products with this model, I don't think they have the will nor the vision to fund truly groundbreaking CE work.