Best Buy Taps Home Energy Market
Best Buy is slow-walking a new home energy concept via a web portal and in-store departments in locations in California, Illinois and Texas.
According to a company press release, Best Buy’s Home Energy concept provides products and services to help consumers understand where their energy dollars are going and what they can do to reduce costs.
"Through several small-scale experiments over the past two years, from home energy audits to installation of home charging stations for electric vehicles, we have learned there is real consumer interest in options to cut energy costs and use in their lives, particularly in the home," said Neil McPhail, senior vice president, new business customer solutions group, Best Buy. "Our role is to help consumers make the most of the technology in their lives, and the Home Energy concept is our latest experiment that will demonstrate the knowledge and expertise of our employees, and how our brands and our channels can help consumers understand how to own, use, and maintain energy efficient technologies."
According to a report on the GigaOM site, Best Buy’s in-store area was located at the back of the store in San Carlos, CA. While not front and center, the report said consumers appeared interested in the interactive layout, which emphasized how appliances could be digitally linked to more effectively manage home energy needs.
Each of the three Home Energy stores showcase partnerships with local energy partners including Constellation Energy in Chicago; Reliant in Houston; and Pacific Gas and Energy Company in San Carlos.
The online component emphasizes education in addition to products with video demos, an energy assessment tool and product and solution recommendations.
- Best Buy’s quiet home energy stores – GigaOM
- Best Buy Unveils Home Energy Management Retail Concept – Best Buy Co., Inc.
- Best Buy plugs in to home energy tech – CNET News
Discussion Questions: Is home energy management a consumer market opportunity that is ready to take off? What will it take to succeed in the marketplace, and do companies such as Best Buy have a shot when competing against the likes of Home Depot and other DIY chains?