Best Buy is America's 6th most hated company, says 24/7 Wall St.

Categories: Best Buy, Lists
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Best Buy: More hated than Walmart? 24/7 Wall St. thinks so.
Best Buy has been receiving a lot of negative publicity lately, and that trend continued when 24/7 Wall St. published its list of the 10 most hated companies in America.

Using an algorithm including factors like consumer satisfaction, customer care, pricing of products and services, brand impressions, present earnings, and profit forecasts, the investment analysis publication pegged Best Buy as the sixth most hated company.

Perhaps the list should be taken with a grain of salt, however. Somehow, Walmart didn't crack the top 10.

Here's what 24/7 Wall St. had to say about Minnesota's third-largest company:
The electronics retailer broke the cardinal rule of customer relations. It failed to keep a promise to its customers -- and told them when it was too late. Best Buy (NYSE: BBY) ran out of certain items that people had ordered for Christmas, but did not tell the customers until two days before the holiday. In a Forbes article, which argues that Best Buy will slowly go out of business, the author pointed out that the retailer's explanation made it appear that some force from outside the company caused the problem -- this was not the case. According to the company's press release, "Due to overwhelming demand of hot product offerings on BestBuy.com during the November and December time period, we have encountered a situation that has affected redemption of some of our customers' online orders." Did Best Buy encounter the problem, or did the problem encounter Best Buy? ForeSee research recently issued its 2011 Retail Satisfaction list for the holidays. Best Buy rival Amazon.com (NASDAQ: AMZN) was at the top of the list. Best Buy was not even in the top 20. Wall St. has no reason to be happy with Best Buy either. Its shares have fallen 30% in the past year.
Facebook, American Airlines, AT&T, Nokia, and Goldman Sachs are the five companies even more hated than Best Buy, according to the study. To see the full rankings, click here.

Previous coverage
-- Best Buy: On the road to extinction?
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Nenue
Nenue

I was in BB today to buy a shredder. There were only two guys in the computer department and they were busy counseling customers who had no idea what they were looking for. After three-quarters of an hour I walked out. If I wasn't trying to redeem gift cards I would never step foot in there again.

Nora
Nora

We have great options in the Twin Cities, so we don't need to shop somewhere with poor customer service. I've had good experiences at Micro Center, General Nanosystems, and Chipheads Computer Repair Shop.

Asdf
Asdf

"Perhaps the list should be taken with a grain of salt, however. Somehow, Walmart didn't crack the top 10."

Why would Walmart be on the list?  The anti Walmart people don't shop there, therefore they aren't part of the equation.  People that do shop there are probably perfectly happy with the prices and customer service, which is why they are not on the list, but don't let that keep you from taking a jab at them.  Keep sucking that Target dick moron.  There is a reason that the rest of the country uses the phrase "Dumb as a Minnesotan"

Tam
Tam

I find the Walmart in Humboldt Tennessee to have crappy customer service and rude employees.

Donnie Songfrieid
Donnie Songfrieid

I'm not actually surprised that Best Buy would be considered proficient at drawing the ire of the customer. Being darn-near coerced into buying overpriced accessories while signing up for their inane store card can cause a person to leave the store emptied handed.

Dave
Dave

Too bad, since they're listed as one of the top companies in the US in treatment of employees.  My guess is that stockholders are the biggest haters. Best Buy has had too much invested in brick and mortar retail stores in an industry becoming dominated by internet sales.

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