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Best & Worst in Money 2008: Breakout product of the year

This post is part of AOL Money & Finance's Best & Worst in Money 2008 feature.

The digital revolution? The frugalista movement? Social networking? Or As-seen-on-TV products? 2008 has changed the landscape of how we recreate, communicate, shop, and dream. What product would you consider the Best Breakout Product of 2008?

Amazon Kindle

Amazon's (NASDAQ: AMZN) Kindle is not the first attempt to replace the paper book with an electronic reader, but it has succeeded (and how -- even now, over a year since its launch, the wait time for a new unit is a couple of months) where others failed for several reasons. The first is the reading experience. The Kindle's cutting-edge electronic paper technology provides crisp, clean print in any light conditions. The device is thin and light enough to carry anywhere, and can store hundreds of books at your fingertips.

The second reason for its success is the access to a huge library of literature, which can be accessed via a built-in wireless link (no computer needed) through the Sprint cell phone system. Virtually all new books are available in Kindle format, and many, many others (190,000 and counting). Top newspapers such as the New York Times also offer Kindle subscriptions, and schools are beginning to adopt it as the platform for electronic versions of textbooks. In the race to lead the transition to electronic books, Amazon's Kindle has broken free of the pack.

Continue reading Best & Worst in Money 2008: Breakout product of the year

Best Buy and Goodwill team up to reduce electronic waste

Best Buy, Inc. (NYSE: BBY) will be joining up with Goodwill Industries in the Silicon Valley market to host a free electronic waste recycling event this weekend. Specifically, the event will be held at the Best Buy location at 5065 Almaden Expressway in San Jose, California from from 9am to 3pm. Here's my beef with this -- why aren't all U.S. Best Buy locations doing this at the same time?

This is a great partnership between two huge brand names. If Best Buy were to really want to pump up its brand name even more, a national partnership with Goodwill seems a great way to do that. The amount of change in consumer electronics means that consumers are replacing equipment -- from older iPods to laptop PCs -- at a pretty decent rate. What happens to all that e-waste?

Toxic substances like lead and mercury exist in all those products (and more), and with more citizens in the U.S. becoming "green" -- as in ecologically-conscious -- a national partnership hosted by the largest consumer electronics retailer in the country with a goal of minimizing electronic waste is a fantastic idea. Best Buy, you could promote this just like a two-day weekend sale. Forget pitching products for a single weekend and promote a campaign like this for a single weekend on national television, cable and in your newspaper circular and website. It could turn out to be one of the best brand-builders you could ever have.

Birds of a feather? Or better? Goodwill shops locating near Wal-Mart stores

In a tactic that many smaller shops and entire strip malls have used for decades now, it seems that Goodwill stores are starting to follow Wal-Mart to newer and older locations hoping to tap into the massive traffic patterns the world's largest retailer normally creates at it stores. (Well, maybe not so much this year...)

In Ohio, Goodwill Industries is moving some of its thrift stores closer to the big-box retailer. Why? It's pretty obvious, isn't it? "We share the same demographic," says a Goodwill spokesperson. In Canton Ohio, Goodwill also plans to close its flagship shop and move it to nearby Perry Township -- a few feet away from a Wal-Mart.

Will this strategy be duplicated by Goodwill Industries locations in other states (if is isn't already?) I would think so -- as Goodwill thrift stores try to move from a second-hand destination into more of a mainstream shopping option. It makes sense. Have you been to a Goodwill lately? You can find a much higher quality of merchandise in a Goodwill.

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Last updated: November 11, 2009: 05:41 AM

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