Seven years ago my team had just shut down the first of our two concept stores that we were running for consumer electronics retailer Best Buy. My team had spent the last two years operating these concept stores in an attempt to understand more about the opportunities in “small box” retail. During that time we had learned a ton and as a leadership team we were adamant that we needed to share what we had learned with the rest of the company.
For the better part of the last decade I had focused my career on driving innovation for Best Buy, a Fortune 100 retailer, and the undeniable king in the consumer electronics category. When I joined the company I was focused on identifying innovative products and services that were specifically tailored for the needs of their newly identified customer segments. I then joined a team where we focused on creating new concept and prototype stores and lead the team responsible for the Escape concept store in Chicago. Eventually we shut down our two concept stores and I worked to reshape the team into an internal capability that could deliver new prototype stores (i.e. Best Buy Mobile), new retail models (i.e. Best Buy Express), and identify new growth product and service categories (i.e. Personal Transportation, Home Energy Management, and Health & Fitness).
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