Best Buy Hopes to Make Millions by Cloning Apple

As part of its turnaround plan, Best Buy (NYSE: BBY) is testing out a smaller and sleeker store format that resembles the design of Apple's (NASDAQ: AAPL) retail outlets.

According to the Wall Street Journal, the new store -- which is currently being tested near the company's headquarters in Richfield, Minnesota -- features its own version of the Genius Bar, a staple of every Apple Store. Customers can drop by the help desk, referred to as "Solution Central," to ask questions or receive tech support.

Best Buy is also allowing customers to pay for their items at multiple locations within the store, another feature that Apple popularized. This could help reduce traffic congestion and lower checkout wait times during the busy holiday shopping season.

In June, interim CEO Mike Mikan announced that the company is working hard to eliminate showrooming (a practice in which consumers visit a store to examine a product in person but choose to purchase it online), as it had become a "top priority" for the struggling retailer. Best Buy has not announced how it might accomplish this goal, but there is growing fear that the company may inadvertently scare off legitimate customers by attempting to stop others from showrooming.

The company has also announced that it will continue to expand its popular Best Buy Mobile brand by opening new outlets in China.

Over the past week, shares of Best Buy have risen more than 10 percent.

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