Growing up in MN during the MTV era of the 1980s, I was an avid customer of Best Buy and Target. I experienced the full life cycle of their respective transformations first hand – and read all about it in the @startribune (the Business section was called the “Marketplace” back then). It was a pleasure to see the story come to life with new information only an insider like @ByTomLee could provide. Hats-off to Tom for compiling such an extensive set of sources from diverse perspectives; and writing in a truly entertaining style. Bravo!
I will be sharing a detailed review and personal experiences in a forthcoming post.
Rebuilding Empires examines, through retail giants Best Buy and Target, how big box chains are constructing a new future by utilizing mobile devices, social media, and the Internet, the same technologies that once pushed them to the brink of irrelevance. This book features interviews with industry leaders and experts, including Best Buy CEO Hubert Joly, chief financial officer Sharon McCollam, Target chief marketing officer Jeff Jones, and several other key players in both companies. Bricks and mortar retailing is not dead, and Best Buy shows others how to capitalize on their own physical spaces. Lee shows how showrooming is an asset rather than a liability, how physical space and online space are complementary, and how others can learn from Best Buy’s innovations including the Geek Squad, stores within stores, and creating non-traditional partnerships. In a readable narrative format, journalist Thomas Lee explores how the world’s largest consumer electronics retailer is redefining what it truly means to be a “Best Buy” in the age of online retailing.