12. Escaping the Middle: Best Buy and Charles Schwab
Best Buy and Charles Schwab were middle-of-the-road competitors that needed to nurture more distinctiveness. Best Buy could not match Amazon’s online experience, nor could it equal the uniqueness of Apple’s products and the excitement that Apple’s stores generated, or offer the same low prices as Walmart.1 Although its net income was higher than Amazon’s (see Exhibit 12.1), it was falling behind these competitors on a number of key dimensions, including growth in revenues and gross margins in the second quarter of 2015.
Data source: Quarterly financial reports
Exhibit 12.1 Financial Performance ...
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