Best Buy Co Inc (NYSE:BBY) is extremely apt in handling the surge of customers that its stores are set to experience tomorrow, but how does the multinational retailer achieve this year after year? Lauren Simonetti of Fox Business was allowed to see firsthand how these preparations take place, which could serve as a great example for other stores like Target Corporation (NYSE:TGT) and Wal-Mart Stores, Inc.(NYSE:WMT).
“[…] I spent my Saturday morning with the folks at Best Buy Co Inc (NYSE:BBY) in Rockland New Jersey, and they basically said we don’t want our expensive TVs broken in the stores, we don’t want our customers hurting each other. We make this and we have for years as organised as possible, so organised that other retailers are starting to do the same way […],” said Simonetti.
The staff at Best Buy Co Inc (NYSE:BBY) practices different routines before the actual day when the number of customers could easily reach as high as four times that on a normal weekend. That is only inside the store. Outside the store there is usually a long line of customers, which could vary from a 1000 people to about 4000 people, depending on the store, according to a manager that Simonetti interviewed. The retailer of technological products has come up with an ingenious way to tackle that problem as well.
Best Buy Co Inc (NYSE:BBY) hands out tickets to the people standing in line which is basically a discount voucher with all the product specifications and options such as the colours available, and any other modifications that a customer could choose from. This substantially reduces the time that each of these customers spends at the store and by the time they get in, the only thing left for them is to get their payment processed.
Target Corporation (NYSE:TGT) and Wal-Mart Stores, Inc.(NYSE:WMT) would do well to follow a similar strategy to avoid the commotion which often leads to violence outside their stores during Black Friday.
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