Here’s how Best Buy CEO Brian Dunn ended a recent blog post on CNBC:
You should be happy with what you purchase. This means that the product works the way you expect it to before you walk out of the store, or when you get home. If not, you’ve overpaid at any price.
Dunn’s post discusses the importance of knowledgeable staff in the consumer electronics space. He points to a study by The American Consumer Institute that shows how often consumers selected different attributes as being important for their electronics purchase:
- Product quality (85%)
- Knowledgeable staff (77%)
- Finding someone to help (74%)
- Lower prices (70%)
My take: True! Dunn’s comments are consistent with my previous post about Wal-Mart’s new tech support as well as my research which shows that customer service trumps price across most industries. When consumers chose a retailer, the need for higher customer service increases with age. There are 2% more Gen Y that want good customer service than those that want low prices. For Seniors, the gap between customer service and low price is 14%.
That’s why retailers need to focus on the 4th law of my 6 laws of customer experience: Unengaged employees don’t create engaged customers.
The bottom line: Don’t sell electronics, help people chose and use them.