The Richfield, MN-based consumer electronics retailing giant also will expand its services, including Geek Squad and home theater installation, as well as boost employee retention with practices learned from the centricity model, add individualized marketing better tailored to specific markets, and simplify internal processes to boost efficiency, Rifkin says.

As of the start of last month, 45 Best Buy stores in 12 cities had expanded their product and service levels and added the Magnolia Home Theatre store-within-a-store, bringing the total number of customer-centric stores to 120.

The stores with the customer focus average $1,000 per sf in sales, more than 17% above the $850 per sf it does at its "non-centricity" stores, Rifkin says. "Best Buy's operating model is no longer product-centric," Rifkin says. "The company will align its business with the interests of its customers."