In 1976 the electronics store was called "The Sound of Music" and one of their main locations was on Hennepin and Lake Streets in Minneapolis. We bought a Panasonic stereo there and enjoyed it for nearly 20 years.
The store became Best Buy and a powerhouse national franchise.
Alas now the company is in disarray trying to stay afloat in the midst of the strong currents of change in electronics sales buffeted on one side by the online mail order Amazons et al and on the other by the brick and mortar Walmart and the like.
Here is a regrouping story, but one which we believe is just a prelude to a corporate obituary.
Best Buy may switch to Wal-Mart-style pricing
It's a strategy inspired by consumers' increasing use of smart phones to compare prices.
By CHRIS BURRITT and CLIFFORD EDWARDS, Bloomberg News
Best Buy Co. Inc., the Richfield-based consumer electronics giant, may curtail three decades of tactical discounting and move instead to its own version of the everyday prices pioneered by Wal-Mart Stores Inc...more...
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