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Alan Wurtzel, former Circuit City CEO and author of “Good to Great to Gone,” on what happened to Circuit City, and his take on showrooming.
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Added -- Circuit City had over twelve billion dollars in annual sales at more than 700 stores.
Then suddenly the company spiraled into liquidation Allen -- all former CEO of electronics chain is own father founded search for answers.
Any -- tells them and his new book good to great to gone and the sixty year rise and fall of Circuit City and he joins us now.
-- thanks for being with us you know -- -- Best Buy in the middle of all of these -- rocks -- of of take outs and buyouts -- etc.
And it really seems rather familiar what was the biggest thing that went wrong at Circuit City -- other retailers can learn from.
-- -- a series of things one as we didn't take the competition seriously.
My successor thought that.
Our waves of selling where people had to deal with sales person and that pick it up and take it to the counter like a grocery store.
Was absolutely necessary for profitability.
But meanwhile all around them Best Buy in the mass merchants -- -- it serious ground on Circuit City with -- I pick it up and take it out models.
You know Circuit City ended -- kind of gone belly up.
Even before the real rise of the show -- practice it's been -- Best Buy.
Where I'd take my iPhone into the store look at a product that look for a cheaper price on line and I just kind of get rid of the Best Buy purchased.
What would your advice be on how to get around show -- That's a hard line I mean for one thing Best Buy is made an investment gains.
The Geek Squad and services and I'm a -- obviously can't replace that over the the Internet.
But whether or not Best -- can charge customers -- word objective advice.
Which I Amazon doesn't provide is an open question I think it's worth experimenting to see whether customers would value.
Knowledgeable objective advice enough to pay something -- and then have that price.
Applied to the purchase price if they buy it but otherwise they'd -- -- the year.
The company something for the advice they received.
Right I see okay I'm sorry -- -- -- a lot of our time we appreciate -- being here with us today good luck with the book.
I'm glad you took a look at that thank you Alan word -- And we are getting some breaking news and this is actually sandy --
