Circuit City Stores Inc. (CC)
Loading...
Symbols:
CC Forum Topics
- All Comments on CC
- General Discussion on CC
- Circuit City Still for Sale - Who'll Buy It? [view article]
- Circuit City: Outlook Is Grimmer Than Ever [view article]
- A Look Back at Circuit City Stock Performance [view article]
- Circuit City Leads Best Buy in Site Visits, but Lags in Conversions [view article]
- Brand Names: Important, But Not Key to Investment Decisions [view article]
- On Short-Sellers and Dishonest Executives [view article]
- Transformation in Retail Shopping Gains Momentum [view article]
- Can One Profit From Poor Customer Service? [view article]
- Circuit City Needs a Management Overhaul [view article]
- Who Can Buy Circuit City AND Successfully Turn It Around? [view article]
- Circuit City Heads Towards Zero [view article]
loading ...Recent CC Articles
- A Look Back at Circuit City Stock Performance
- Circuit City Still for Sale - Who'll Buy It?
- Brand Names: Important, But Not Key to Investment Decisions
- Circuit City Leads Best Buy in Site Visits, but Lags in Conversions
- Circuit City: Outlook Is Grimmer Than Ever
- Blockbuster, Despite Progress, Posts Another Loss
- On Short-Sellers and Dishonest Executives
- Transformation in Retail Shopping Gains Momentum
- Can One Profit From Poor Customer Service?
- Blockbuster Drops Circuit City, Retains Hybrid Stores Strategy
- Full List of Articles »
Trading Center
Hedge Fund Jobs
Job Seekers: Search jobs by category, get job alerts by email or live feed, apply online See full list of jobs »
Employers: See all recruitment options, get applications online or by email Post a job »
Can One Profit From Poor Customer Service? [view article]
There are many easons companies can't or won't improve customer service. Contary to a point you tried to make, that no matter how many people you tell about your bad experience, people will continue to shop there as there probly isn't any where else to go or they choices are equally as bad. Second is there realy isnt a fiscal return in profits for good customer service. The notion that a 5% improvement in service will yield a 25% - 100% improvements in profits is pure fiction. I worked for a company that measured its customer retantion (a key metric for the company's performance), they actually managed a 20%+ improvement in customer retention, and guess what, their stock price went down.As one one of the people responding pointed out, stores that offer little in terms of customer service actually do quite well. They set up their value proposition in a way that lowers the service expectation bar.
I think what gets people rightfully bent out of shape is the lack of interest, caring, empathy and truthfullness we get when a problem does occur with a shopping experience or purchase.
All of this is exacerbated by the fact consumers want a 'deal' or lower prices. If you want to pay less you will get less. ANd getting less means retailers have to pay minimal wage for help. The people waiting on you or I have not the means or maturity to know what customer service is, heck they cant affored to shop there themselves. Reply
Can One Profit From Poor Customer Service? [view article]
Ethan, it is apparent you know nothing of retail.In a brief nutshell: Sales = Payroll = Better Customer Service.
Best Buy is at the top of their game. And their game is to get as big a sale as they can from each customer. Make no mistake, they are a cut throat operation. You paid extra for those folks to be there. They damn well better provide Customer Service.
That aside. Did you not hear about Best Buy 54 million dollar lawsuit?
redtape.msnbc.com/2008...
Is that the Customer Service you want?
Better Customer Service does not equal sales. Check out Wal-MArt or Target. Both are doing great and offer no real Customer Service.
Reply
Can One Profit From Poor Customer Service? [view article]
I write from India. I have spent a life time battling with poor customer service on the one hand and have met with some spectacular success in installing good customer service in some organizations with proper training and systems.I have tried to put some of my experiences on my blog and you may wish to check them out. Reply
Can One Profit From Poor Customer Service? [view article]
Man, are you on target!! As a homebuilder, I've continued to tell "Home De-pot" how to keep their customers coming and reasonably satisfied. The local employees seem to understand, but after stupid Nardelli almost ruined the company (so much for "professional executives"), that company hasn't learned much. And, dumb me, I just bought 600 shares of their stock, but I bought 1,640 shares of Lowe's stock. Both hopefully, will survive and flourish, but "Home De-pot" doesn't have their own delivery trucks, try to do everything, and does nothing well.Lowe's thankfully, is a very good company to deal with, while Home De-pot is the new K-Mart, ala Sears.
Check the parking lots of these companies.
Poor management, especially at the top, and middle, and overpaid nincompoops on the Boards of Directors.
I've seen major failures at Home De-pot in the past 15 years as they've failed to run a tight ship and deliver as they did in their heyday. Reply
Can One Profit From Poor Customer Service? [view article]
Thank you.... I've been pulling my hair out!"Where do I even begin on the subject of bad customer service? The incompetence, the rudeness, the lack of caring about one's job or the customer -- it's just rampant, and getting worse all the time tin America."
I cannot believe how screwed up Bank of America, Wells Fargo, Etrade, and TDAmeritrade are! Each of these companies have cost me money and each is supposedly above reproach when it comes to protecting my finances. Each company just stonewalls me.
Further, I've had a running battle over the last two years with the Post Office here in Grass Valley, Ca. The mailman will not come up the driveway for me to sign registered mail. He just throws a 'Sorry I missed you' note in the box and I have to drive to town and stand in line to get my mail. Furthermore, he looks like a bum. He dresses in cutoffs and has an untrimmed greying beard and long hair. I'm not sure if returning to a uniform is acceptable these days, but if it wasn't for the mail-truck, I'd be calling the cops.
I don't even buy GE products any longer. I got tired of returning them to the store for as they didn't work right out of the box. Guarantees are worthless. All they seem to function as is a means of getting you to pay a differential to buy the same product that just failed. (Think car batteries with a 6 year pro-rata warranty.)
Insurance companies (and I worked in the industry for 21 years) are a joke. The methods they use to evaluate the replacement cost of your home is not reasonable and it is left to the consumer to fight them for an adjustment. Don't even get me started on health insurance ... Or even worse, 'Workers Comp'. Thanks Schwartzenegger!
The local 'Lyman Gilmore Elementary' and its associated school district didn't even call me to tell me that my son had not been turning in his homework and was failing his classes 3 weeks before he was supposed to graduate! They sure called me fix their screwed up book-keeping associated with missed days though!
I could go on.... But I think that's enough.
jegan ;-(
Reply
Can One Profit From Poor Customer Service? [view article]
I wonder if your "Great Buy is the company I call "Worst Buy". This outfit insults their customers by insisting they submit to a search when they leave the store, even 'tho the searcher had been watching the checkout transaction. The store is also a noisy barn, albeit well-lit.I recently bought an external hard drive (the one that looks like a book). Worst Buy had a sale advertised. Nextdoor was an office supply store (let's call it paper clip). I asked if they would match the price. While I did have to wait for the manager's approval, I bought the item and wasn't accused of shoplifting.
Then there's US Scare, which wanted to charge an extra $250 to move up an airline filght (which is doing them a favor -- gives them more time to sell the seat on the original flight). Next time, I'll book on South-North instead. They are not so greedy. Reply
Can One Profit From Poor Customer Service? [view article]
7-27-08Ethan,
Current ‘usury laws’ (100% [or more] interest is legal) and bankruptcy laws (have to pay all credit card debts) alone, pad the bottom line for all businesses like never before. Profits in the last 7.5 years have never been higher for businesses in the history of accounting.
Include preferential taxation for corporations and their executives along with uninforced regulations of all kinds (consumer, fraud, tax, etc…) and it’s no wonder that executives and managers don’t give a shit about their customers; they don’t have to be concerned.
They’re ‘earning’ more money than they could have ever imagined and no number of complaints or law suits will change that behavior towards their customers. They own the politicians (who let them write their own laws) and the politicians own the courts (if a complaint ever gets that far).
Even the companies that are near bankruptcy are still more viable and able to treat their customers with contempt longer than normal because of the current ‘business friendly’ environment. And, there’s nothing we can do about it…at least until the time we can elect more law abiding, consumer friendly politicians.
So, when you go to vote, just remember who made corporate loan sharking and ‘tax evasion’ legal. That’s right; it’s the same bunch that’s on the verge of putting the world markets into a global depression by allowing other ‘innovative financial instruments’ to flourish (see current ‘banking crises’).
It’s the same guys that have already turned this country into a ‘Big Brother’ (see current privacy laws) and Socialist (see ‘loan shark’ bail out) nation. It’s the same guys that have intentionally caused a ‘supply destruction’ of oil (for the past half decade) in Iraq, which has pushed the price of oil, gas, food, etc… to ‘usury’ like levels.
Yes, it’s the same guys that think the general public (both, socialist democrats and socialist republicans) haven’t wised up after eight years of being under their thumb.
It’s the same guys that will tell you everything’s ok as they cash in (Enron style) on one of the boldest US consumer and US Treasury heists in our nation’s history.
It’s the same guys that will tell you we’re the greatest nation on the face of the earth while we quickly back step into something that resembles more of a third rate, worthless currency (pending double digit inflation rate), no world respect, socialist kinda’ country.
So, let’s not just piss and moan about the snotty assed kids that are probably spittin’ on our burgers while text messaging on their cell phones and short changing us after we hand them a near worthless twenty dollar bill, lets go right to the root cause of the problem and vote for the people who won’t make it so easy for the corporate bosses to create and nurture a culture that thrives on treating the consumer with disdain while robbing them blind.
Here’s another guy that feels the same way:
online.wsj.com/public/...
Reply
Can One Profit From Poor Customer Service? [view article]
The problem here is that national chains don't care. You have to com back to them for something or another. I read an article that actually stated that they really don't care what you think, because uts not any better any where else. Were thats where they are wrong. Try you local stores or office suppliers or local retailers. They are the ones that care because they are the ones that need you more that any of the big box stores. ReplyCan One Profit From Poor Customer Service? [view article]
There are many reasons why service is less than stellar, and while it might be an employee that provides us with a poor experience, we have to hold management accountable for allowing it to happen. Is management monitoring the employees to see what kind of service they are providing? And if the service isn't good, what are they doing about it? How to treat customers should be lesson number one for any new employee. Until that happens, we the consumer will continue to suffer.Most businesses have plenty of competition, and I won't think twice about staying with a company that doesn't treat me right. Are you listening managers?? Reply
Can One Profit From Poor Customer Service? [view article]
Everything you talk about is right on the money.This time I took my TWX dvr to the office and received my 5th replacement. Hooked it up and it does not record. They gave me a bad one. Gas and time wasted.
Etrade, TD Amertrade and Scottrade the same results. Not a nickels worth of difference between them. Running out of options.
Management is non existant. They just collect paychecks. Don't stir the water... Reply
Can One Profit From Poor Customer Service? [view article]
Don't think your editor will be too impressed ....but readers will enjoy it. Great article. Why do dollar stores have better service than some of these great american companies?....and you didn't even get to the airlines.Now that would have been a long article.Cheers Reply
Can One Profit From Poor Customer Service? [view article]
Circus Town is a JOKE. I COMPLETELY agree with your correlation about Customer Service and well, porfitability. It's SUCH a mystery how upper management can be SO blind to such an obvious and fairly EASY thing to change! Great article... I'm right there with you. ReplyCircuit City Needs a Management Overhaul [view article]
A small comment from the front line.I work in a major metro area and have CC and BBY stores within walking distance of my office.
When I want to make an electronics purchase, I check the websites of both companies for availability and price. To be fair (and compulsive) I do so in alphabetical order. :D
Today I got my HDTV converter box coupons so I searched both sites to determine which product to buy. BBY returned three hits, all of which were converter boxes. CC returned eight hits, none of which were converter boxes.
Want to guess where I made my purchase? Reply
Who Can Buy Circuit City AND Successfully Turn It Around? [view article]
To mrducttape:Every CE retailer uses addons to increase profit margins. But with CC, that strategy hasn't worked in 6 consecutive quarters--which lines up nicely with the decision to fire the top sales people back in March 2007.
Accessory attachments can make or break a CE store. Without the attachments, you might as well be selling at WMT. Reply
Circuit City Heads Towards Zero [view article]
Anyone who did a short call back when this article appeared has made good money, since the stock fell to $2/share immediately after BBI pulled its bid. Reply