Posts filed under “Technology”
Bloomberg television ran a brief segment in which they posited that Best Buy (BBY) has effectively become Amazon’s (AMZN) biatch. And I think there’s some truth to that. This is no doubt one of the consequences of a population that walks around with smartphones running barcode scanning applications that allow us to see, touch, examine, try out a potential purchase and then, if it is to our liking, immediately search the web to find its best price — possibly (probably?) elsewhere, and maybe even order it before we leave the site at which we went to go see it in the first place. Unless it’s an impulse buy — walk in for a $12 thumb drive, walk out with a $700, 50″ flat panel? — why wouldn’t you:
- Pay a lower price
- Pay no tax
- Probably get free shipping
- Have your purchase in just 2-3 days
And the proof of the pudding seems to be in the performance:
I’d postulate this trend is a contributing factor to this news item about weaker BBY sales in general, but which contained this interesting tidbit (I’d guess the sale of mobile devices has a much higher immediate, on-site close rate than, say, digital cameras or other higher-end electronics) :
The chain is also pushing hard to open smaller stores. The company is opening 150 smaller-format mobile only stores by the end of the year, nearly doubling its total to 325.
“We are exploring and redefining what the optimal big-box footprint is for us,” CEO Brian Dunn said on a call with analysts.
And yes, I’m aware of Amazon’s far more diverse offerings — consider this post as applicable only to electronics.
BR adds: I have been playing with the Amazon PriceCheck barcode scanning app — it spells the end of retailing as we previously knew it . . .
The Verizon letter arrived at home, exhorting us to “Renew now and save $100 on a new phone.” Mrs. Big Picture was in no hurry to upgrade. She had been dragging her feet replacing her purple Motorola Razor (really), which she actually liked. I, on the other hand, was hating my aging Blackberry. But during…Read More
Thinking about buying a new iPad 2 or Powerbook? Consider this table below, via Kyle Conroy. It shows what that purchase would have been worth if you had bought AAPL instead of their product and held it to today: > > Apple Product Release Date Original Price Stock Value Today PowerBook G3 250 (3500) 1997-11-10…Read More
Question: What makes Apple revolutionary?
Guy Kawasaki: if you were to ask people in 1983, you know, what would you like in a personal computer? They would have said, bigger, faster, cheaper, MS-DOS machine, bigger, faster, cheaper Apple II. No one would have described the Macintosh. And so the genius of Steve Jobs is not that he listens to the marketplace focus groups and marketing research and then he takes that research and he implements it, he does not believe in market research. Market research for Apple Computer is Steve’s left hemisphere is connected to his right hemisphere. That’s the focus group.
And so the lesson of Apple is, you know, you cannot necessarily just listen to what able are saying they need because they are going to define everything they need in terms they already know, bigger, faster, cheaper. The shrill revolutionary, then surely enchanting company creates a product or service before people can really define the need for that product or service. They anticipated where the market will go as opposed to simply reacting quickly to where the market is already going.
> CNBC’s John Melloy mentions what may be the best analysis I’ve seen on the “Charlie Sheen effect.” It comes from Lou Kerner, a keen eyed analyst at Wedbush. (See chart above) Kerner notes that Sheen may be Twitter’s “Lazy Sunday” moment: Content Creators #Winning In December, 2005 a Saturday Night Live skit called Lazy…Read More
“Technological change is discontinuous. The monks in their scriptoria did not invent the printing press, horse breeders did not invent the motorcar, and the music industry did not invent the iPod or launch iTunes.” – Jason Epstein > Source: Books: Onward to the Digital Revolution FEBRUARY 10, 2011 Jason Epstein Review of Merchants of Culture:…Read More