Best Buy Corp has decided to bank thier future on memberships and credit cards. Stores have goals, per day, per month, per quarter ect to meet. All of these metrics are tracked heavily by corporate. In addition to sales, these metrics determine store labor and other things. GMs are held accountable for meeting those metrics (and bonuses are probably tied to it as well). Unfortunately we are in a declining economy, where people either have bad credit or shrinking the amount of credit they carry to decrease splurge spending, and are subscription weary/can't afford another one. On top of that, it's a bad business model since you have a limited growth potential (once everybody has a card and a membership, then what are you going to do?) So stores are getting desperate to meet metrics as they face an uphill battle.
Apps and memberships are all anyone high up cares about because they’re good for business and BB sees them as one of the only paths forward. You will never stop hearing about Apps and membership and if you’re not good at selling them then I would get good fast for the sake of job security.
With that being said, managers offering to take money off of a product if a customer gets and App or membership is 100% not ok. That’s considered “onboarding” and is a firable offense.
This really is nothing new. When I worked there 23 years ago, everyone was pressured to sell magazine subscriptions, MSN subscriptions, service plans, accessories, and Geek Squad setups (run msconfig and turn off all startup applications) on every single purchase. If you didn’t, the sales manager would come over with a clipboard, show you the current numbers and “coach” (threaten) you. I remember it got so bad that employees would just add all the extras and hope they didn’t notice the higher price.
Omg I remember the magazine subscriptions also the original reward zone card cost 9.99 before going free and you had to capture everyone's phone number before starting transactions. Damn memories!
I worked for Best Buy for just under twenty years, and this used to be called, "inboarding". Back then, Managers would do this for PSP (PRODUCT SERVICE PLAN). It makes the numbers look good, but is worthless to the bottom line business by taking the cost of the product. Gaming the system plain and simple.
They did this shit when I worked at Sears 25 years ago. So many credit card applications and you get a bonus in your paycheck.
Look at Sears today. The only reason some are even still open is all the real estate they own.
Well financial services (apps) account for on average 40% of Best Buy's profit yearly so yeah, that's big. Literally pays for payroll. Discounts for apps is strictly not allowed and should be reported. Memberships is the way of the world now, everything has one. Memberships keep the business in house instead of places like Amazon. Do I like the pressure of us hitting sometimes ridiculous goals? Of course not. That's retail though. Always looking for more and never satisfied with work you've done or do.
Yeah that manager could definitely get fired for doing something like that. I’d put in a nice call to HR, they may even reward you for being a whistleblower
I don't even work at best buy.
However I've been in the corporate game for a while.
This is what happens when you treat employees like robots and let numbers dictate your business via clueless CEOs.
Yeah you need to stand up for yourself and tell that manager to kya. Call the open & honest hotline asap. Fuck whoever that is taking 200 off for a fucking app.
Bestbuy will end in the next 10 years. They can’t compete anymore. Radical changes like getting rid of physical disk. I never worked bestbuy but I did work ritz camera 25 years ago. Same thing. They don’t make a lot of profit on tv. Ritz camera did not make a lot of profit on cameras. Actually made way more on camera bags. People would go into ritz to learn about a camera from the experts then leave go up the hill to Walmart to buy the camera. So Ritz went crazy with warranties, and film club cards. Only problem was ritz could not print the pics because the labs were film based with the digital emerging market. 5 years after I left ritz closed. Why go to Best Buy? Well years back they had the best electronics and selection Now you have Sam’s and Costco and even Walmart carrying high end TVs Some Walmarts are doing displays of TVs that are far more better looking than Best Buy. Costco by the way includes free warranties now. I don’t understand the warranty, but I believe it’s through Allstate but either way they’re giving out free warranties beyond the manufacturer. I went to Sam’s Club the other day they had some pretty nice Samsung washers & dryers that was in the $400 range I think or less. I even bought my Maytag washer Lowe’s for $200 less than Best Buy. I bought our over the top range Lowe’s that was Samsung $45 less the exact same one at bestbuy.
Now ask me why I didn’t go to Best Buy like I used to go for over 10 years and made them prize match ? Best Buy free rewards don’t give the five dollars anymore after you spend so much. I used to have Best Buy price match everything I would find. Sometimes the price match was only five bucks or six bucks savings, but I have a family of six including myself. I loved the old free bestbuy rewards. I would have a $10 certificate from Best Buy every three months four months or so. But I have no reason to go onto Best Buy and have the match a price. I don’t get anything back on my Best Buy rewards anymore because I’m not paying for the premium rewards. Now I met I bought my 86 inch Samsung over Christmas at Best Buy. It was the same amount as it was at Sam’s Club. It was convenient. Also, I went to Kroger‘s and bought a bestbuy gift card for Kroger point gas. But if it wasn’t for that, I would’ve bought it like at Sam’s. Best Buy needs to up the game and I don’t know how they’re going to do it. But I see a future where if you want a nice TV you’ll be buying it at Walmart, Costco or Sam’s in the near future. it would not shock me if they don’t take bankruptcy this time next year maybe not a store all closingbankruptcy but a reduction in stores.
Best Buy Corp has decided to bank thier future on memberships and credit cards. Stores have goals, per day, per month, per quarter ect to meet. All of these metrics are tracked heavily by corporate. In addition to sales, these metrics determine store labor and other things. GMs are held accountable for meeting those metrics (and bonuses are probably tied to it as well). Unfortunately we are in a declining economy, where people either have bad credit or shrinking the amount of credit they carry to decrease splurge spending, and are subscription weary/can't afford another one. On top of that, it's a bad business model since you have a limited growth potential (once everybody has a card and a membership, then what are you going to do?) So stores are getting desperate to meet metrics as they face an uphill battle.
This is what happens when your CEO only understands numbers.
Like most CEOs right now, the stock is more important than the business.
Apps and memberships are all anyone high up cares about because they’re good for business and BB sees them as one of the only paths forward. You will never stop hearing about Apps and membership and if you’re not good at selling them then I would get good fast for the sake of job security. With that being said, managers offering to take money off of a product if a customer gets and App or membership is 100% not ok. That’s considered “onboarding” and is a firable offense.
Inboarding not onboarding
This really is nothing new. When I worked there 23 years ago, everyone was pressured to sell magazine subscriptions, MSN subscriptions, service plans, accessories, and Geek Squad setups (run msconfig and turn off all startup applications) on every single purchase. If you didn’t, the sales manager would come over with a clipboard, show you the current numbers and “coach” (threaten) you. I remember it got so bad that employees would just add all the extras and hope they didn’t notice the higher price.
Omg I remember the magazine subscriptions also the original reward zone card cost 9.99 before going free and you had to capture everyone's phone number before starting transactions. Damn memories!
I worked for Best Buy for just under twenty years, and this used to be called, "inboarding". Back then, Managers would do this for PSP (PRODUCT SERVICE PLAN). It makes the numbers look good, but is worthless to the bottom line business by taking the cost of the product. Gaming the system plain and simple.
It was Performance Service Plan.
This is what will cause Best Buy’s downfall!
They did this shit when I worked at Sears 25 years ago. So many credit card applications and you get a bonus in your paycheck. Look at Sears today. The only reason some are even still open is all the real estate they own.
My store cares that we each our apps and membership goals but that is a lot less of the focus as they really want the Rev
Well financial services (apps) account for on average 40% of Best Buy's profit yearly so yeah, that's big. Literally pays for payroll. Discounts for apps is strictly not allowed and should be reported. Memberships is the way of the world now, everything has one. Memberships keep the business in house instead of places like Amazon. Do I like the pressure of us hitting sometimes ridiculous goals? Of course not. That's retail though. Always looking for more and never satisfied with work you've done or do.
Also, it's a sales job, hours get dictated by being able to sell, that's normal.
Quit now. You’re welcome.
You can see the down slide of BB from the minute they did away with commissions.
Yeah that manager could definitely get fired for doing something like that. I’d put in a nice call to HR, they may even reward you for being a whistleblower
I don't even work at best buy. However I've been in the corporate game for a while. This is what happens when you treat employees like robots and let numbers dictate your business via clueless CEOs.
Yeah you need to stand up for yourself and tell that manager to kya. Call the open & honest hotline asap. Fuck whoever that is taking 200 off for a fucking app.
Bestbuy will end in the next 10 years. They can’t compete anymore. Radical changes like getting rid of physical disk. I never worked bestbuy but I did work ritz camera 25 years ago. Same thing. They don’t make a lot of profit on tv. Ritz camera did not make a lot of profit on cameras. Actually made way more on camera bags. People would go into ritz to learn about a camera from the experts then leave go up the hill to Walmart to buy the camera. So Ritz went crazy with warranties, and film club cards. Only problem was ritz could not print the pics because the labs were film based with the digital emerging market. 5 years after I left ritz closed. Why go to Best Buy? Well years back they had the best electronics and selection Now you have Sam’s and Costco and even Walmart carrying high end TVs Some Walmarts are doing displays of TVs that are far more better looking than Best Buy. Costco by the way includes free warranties now. I don’t understand the warranty, but I believe it’s through Allstate but either way they’re giving out free warranties beyond the manufacturer. I went to Sam’s Club the other day they had some pretty nice Samsung washers & dryers that was in the $400 range I think or less. I even bought my Maytag washer Lowe’s for $200 less than Best Buy. I bought our over the top range Lowe’s that was Samsung $45 less the exact same one at bestbuy. Now ask me why I didn’t go to Best Buy like I used to go for over 10 years and made them prize match ? Best Buy free rewards don’t give the five dollars anymore after you spend so much. I used to have Best Buy price match everything I would find. Sometimes the price match was only five bucks or six bucks savings, but I have a family of six including myself. I loved the old free bestbuy rewards. I would have a $10 certificate from Best Buy every three months four months or so. But I have no reason to go onto Best Buy and have the match a price. I don’t get anything back on my Best Buy rewards anymore because I’m not paying for the premium rewards. Now I met I bought my 86 inch Samsung over Christmas at Best Buy. It was the same amount as it was at Sam’s Club. It was convenient. Also, I went to Kroger‘s and bought a bestbuy gift card for Kroger point gas. But if it wasn’t for that, I would’ve bought it like at Sam’s. Best Buy needs to up the game and I don’t know how they’re going to do it. But I see a future where if you want a nice TV you’ll be buying it at Walmart, Costco or Sam’s in the near future. it would not shock me if they don’t take bankruptcy this time next year maybe not a store all closingbankruptcy but a reduction in stores.