Best Buy to Make Bigger Push in Smart Home
Best Buy, which announced a strategic partnership with Vivint Smart Home In May, has announced it will be expanding its smart home offerings by the end of October 2017.
In a growth strategy called Best Buy 2020, the company said it aspires to gradually increase its rate of topline growth, create efficiencies to help fund investments and offset potential pressures, and build more predictable revenue streams from recurring revenues and stickier customer relationships.
As part of its strategy to meet those goals, the electronics giant reported it would enhance the smart home areas in all its stores; roll out its Best Buy Smart Home Powered by Vivint home automation and security offering to 450 stores; and add 1,500 dedicated smart home employees. It will also be launching Total Tech Support, a new Geek Squad offering that provides ongoing support for a customer's tech, no matter where or when they bought it. This offering is available nationwide in Canada and at 200 stores in 10 U.S. cities.
Another strategy the company plans to employ is piloting a service called Assured Living that uses technology to help adult children remotely check in on the health and safety of their aging parents.
Best Buy recently expanded its In-Home Advisor program to all major U.S. markets. It now has 300 advisors who are specially trained to provide free in-home consultations to help customers find the right technology solutions for their unique needs.