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RICHFIELD, MN-Best Buy plans to accelerate the rollout of its "customer centricity" approach with the conversion of at least 150 to 200 stores in 2005, says Alan Rifkin, a securities analyst with Lehman Brothers.
The locally based consumer electronics retailing giant also will expand its services, including Geek Squad and home theater installation, as well as boost employee retention with practices learned from the centricity model, add individualized marketing better tailored to specific markets, and simplify internal processes to boost efficiency, Rifkin says.
As of the start of last month, 45 Best Buy stores in 12 cities had expanded their product and service levels and added the Magnolia Home Theatre store-within-a-store, bringing the total number of customer-centric stores to 120.
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