Best Buy Cancels Some Online OrdersActually only one black eye is revealed here. Wait until the news comes out that Best Buy has cancelled a mountain of "Black Friday" on-line orders - super hot items at super low prices - and has invited those who got the shaft to reorder. At much higher prices.
Best Buy has alerted some customers that it will not be able to fill their online orders, just days before Christmas.
The largest U.S. specialty electronics retailer said late Wednesday that “overwhelming demand for some products from Bestbuy.com has led to a problem redeeming online orders made in November and December.
The Minneapolis company declined Thursday to specify how many orders are affected or which products are out of stock.
The shortages are a black eye for Best Buy, which has beefed up its online campaign to fight off intense competition from online retailers and discount stores.
The canceled orders probably won’t make a big difference for Best Buy’s holiday sales this year, but it may lead to more customers looking elsewhere in the future, he said. [link]
This news comes just days after the company announced a dreadful third quarter earnings report that cited price cuts at the retail level as being a major contributing factor.
How do you improve that profit picture?
Renege on some of those price cuts. Even after money has changed hands and promises were made.
Way to go, fellas. That's how a winning organization does it. By screwing the customer.
Who's piloting that ship anyway?