Best Buy slips After Amazon launched their own “Geek Squad”

Published on: 10 Jul, 2017

Monkey see, monkey do is the name of the tech game. As one tech software comes out and revolutionizes the industry, all other similar tech platforms follow suit. So why should we expect anything different from tech retailers?

Amazon, Inc (NASDAQ: AMZN) - the American electronic commerce and cloud computing company- launched the new “Amazon Smart Home Services Store” on their website which targets users requesting to book appointments to either install or come by for a free estimate. These efforts are in a push for smart-homes and to positioning themselves to head up the industry with tech support experts that can assist with any and all their smart-home needs.

The service will allow experts to set up products ranging from thermostats to smart lights, along with Amazon’s own “in-house” line of products. (Pun intended).

After Amazon’s recent acquisition of Whole Foods (NASDAQ: WFM), they are exhibiting a renewed confidence in brick and mortar businesses that can still service the customer face-to-face. The best of both worlds seems to be the goal for the multi-million dollar e-commerce behemoth.

As a result of the launch, Best Buy (NASDAQ: BBY) saw their stock plummet as the market has been sucker punched with the announcement and confidence in Best Buy is now being tested. Best Buy’s “Geek Squad” has somewhat had their own niche market cornered for some time.

At this point, Amazon has become an ever-growing forest of success at every turn and is a message that while money may not grow on trees, they might just grow in the Amazon.

Ratings

Ratings
  • 389Views
  • 0Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin

Giovanni Lopez

Email: Lopez@financialinsiders.com

@Newsletter

Sign Up for Weekly Updates

Related Posts

28 Jun, 2017 420
10 Jul, 2017 396
18 Jul, 2017 371
03 Aug, 2017 1040

Comments

There is no comment on this article