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Poll: Does Best Buy Deserve to Be One of the Most Hated Companies?

24/7 Wall St. recently named Best Buy as one of the top 10 most hated companies in America.

The financial news website 24/7 Wall St. recently named Richfield-based Best Buy as one of the top 10 most hated companies in America, after researchers reviewed a lenghly list of companies and data.

Consumer satisifaction, brand impressions, customer care and product pricing were among the things researchers considered when compiling the list.

The following rationale was used by 24/7 Wall St. for putting Best Buy at No. 6:

The electronics retailer broke the cardinal rule of customer relations. It failed to keep a promise to its customers—and told them when it was too late. Best Buy (NYSE: BBY) ran out of certain items that people had ordered for Christmas, but did not tell the customers until two days before the holiday. In a Forbes article, which argues that Best Buy will slowly go out of business, the author pointed out that the retailer’s explanation made it appear that some force from outside the company caused the problem—this was not the case. According to the company’s press release, “Due to overwhelming demand of hot product offerings on BestBuy.com during the November and December time period, we have encountered a situation that has affected redemption of some of our customers’ online orders.” Did Best Buy encounter the problem, or did the problem encounter Best Buy? ForeSee research recently issued its 2011 Retail Satisfaction list for the holidays. Best Buy rival Amazon.com (NASDAQ: AMZN) was at the top of the list. Best Buy was not even in the top 20. Wall St. has no reason to be happy with Best Buy either. Its shares have fallen 30% in the past year.

Do you think Best Buy deserves its place on the list? Take the poll below and share your thoughts in the comments section.

Scott Addyman January 20, 2012 at 02:43 AM
I have never, in 20 years, ever had a problem with a purchase, a visit to a store, or a item purchased from Best Buy! In fact I have always been dealt with fairly and enthusiastically. I have purchased several home theaters, and audio equipment, installed by Geek Squad, mobile devices, office electronics and Christmas gifts for my entire family year after year. This seems to be a subject being fueled by media hype. Best Buy may be struggling with the super fast change in consumer shopping habits and the digital shopping explosion, just like every brick and mortar retailer that is adapting to the new phenomenon of mobile shopping. Amazon is also a great company, they just have been doing it longer and it is there primary business. Should Best Buy have seen this coming? Hard to say. Did you ever think two years ago, that I would be writing this comment from a mobile phone? Best Buy is needed and is a vital partner to its suppliers and manufacturers.
Caitlin Burgess (Editor) January 20, 2012 at 03:44 AM
I personally don't shop there enough to be able to weigh in on this one. I don't think I've ever had a problem, but I'm sure at times I've been not so enthusiastic about my experience - but that happens in all areas of life. A few weeks ago there was another article in Forbes about Best Buy going bankrupt slowly. Here's the link: http://patch.com/A-pVkv What do you think about that possibility? Anyway, if you've been keeping up on this site for the past few days - Best Buy has been in the news a lot! Thanks for reading.
Kevin O'Donovan January 20, 2012 at 04:07 AM
I have purchased a number of items from Best Buy beginning at their first stores in W.St.Paul. I've found their sales staff to be very well informed, courteous, and patient. They informed me of options that I wasn't aware of and helped me make better decisions. My last major purchase was this desktop computer. The sales person suggested I delay my purchase until Windows 7 was available a few months out. Instead of taking the easy way out, he thought of what might be best for me. That's the type of informed, good customer service I've come to appreciate at Best Buy.
Dick Saunders February 27, 2012 at 06:31 AM
I too have been totally satisfied with Best Buy and Geek Squad service, the former since Windows 95 came out in 1995.

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