Best Buy

  1. Channel: Apparel
We’re joined by Chris Bell, CEO & Founder of Perch, one of the fastest growing and most acquisitive companies offering a platform to e-commerce brands leveraging “Fulfilled by Amazon” and other third party marketplaces. We learn how the model works, why the business model is attracting so much investor interest, and what’s on the horizon […]
  1. Holiday & Events
Over the Thanksgiving weekend, a Best Buy in Minneapolis was hit by organized retail theft rings, joining the surge of incidents in which large crowds of thieves have descended on stores, emptying racks and making their getaways. Retailers are advocating for federal legislation to create more punitive consequences for those selling illegal merchandise online.
  1. Operations & Supply Chain
With Christmas less than a month away, President Joe Biden is meeting with CEOs of Best Buy, CVS, Etsy, Food Lion, Kroger, Walmart and others today to discuss how to address existing supply chain challenges. The in-person and virtual meeting takes place with the knowledge that a new COVID-19 variant, dubbed Omicron, has been discovered. […]
  1. Channel: Specialty & Other
Electronics retailer Best Buy (NYSE: BBY) got slammed in the stock market after release of its third-quarter earnings report on Nov. 23 that revealed some potentially alarming trends. Up until then, the company had enjoyed a nice bull run with its stock climbing some 40% for the
  1. Trends & External Forces
CNN has an interview with Best Buy CEO Corie Barry in which she says that “theft is a growing problem at the company’s stores — and it is implementing added security measure to safeguard employees and shoppers … Barry said the company is implementing a number of tactics to minimize theft and protect staff and […]
  1. Channel: Ecommerce & Digital
Best Buy’s fourth quarter could be hurt by rising shipping costs and weaker demand for consumer electronics. Best Buy’s fiscal third-quarter earnings beat estimates on Tuesday, yet shares tumbled as investors worried about rising shipping costs and weaker demand for consumer electronics. Shares closed the day down 12.31% to $121.01. Here’s what the company did […]
  1. Technology & Innovation
Part one of our three-part holiday shopping series—subscribe to receive our upcoming reports. Key takeaways for early holiday retail season in 2021 Earnest Research tracked a 9% YoY growth in total spend activity in the first 10 days of the holiday shopping season Visits to stores were higher than pre-pandemic levels Home spending slowed as […]
  1. Channel: Ecommerce & Digital
Amazon is rolling out “Local Selling,” a set of services that allow local and regional retailers to offer both in-store pickup and fast delivery to nearby customers. With this new option, sellers can offer in-store pickup for products and services to shoppers in specific ZIP codes. In some instances, customers will be able to purchase […]
  1. Corporate Purpose
MNB reader Tom Murphy had a thought about yesterday’s piece about Target using more and more in-store boutiques in its stores: This is an extremely interesting article.  When I was a grocery industry executive and then consultant (1990 – 2018), the standard grocer premise was that floor space was too important an asset to “lease […]
  1. Channel: Mass
CNBC reports that Walmart plans to give its Walmart+ members advance access to its Black Friday deals, which, if outside estimates are to believed, has the potential of making some 32 million US households feeling a little more joyful about the end-of-year holiday shopping season. The story says that the offering will come in the […]
  1. Acquisitions, Divestitures & Mergers
Best Buy announced earlier this week that it agreed to acquire Current Health, a U.K. tech company that helps with remote patient monitoring and telehealth. The consumer electronics retailer expects the deal to close by the end of the fiscal year, according to a filing with the U.S. Securities and Exchange Commission. With the move, Best Buy is […]
  1. Channel: Grocery
In new testimony yesterday at the criminal fraud trial of Theranos founder Elizabeth Holmes, former Safeway CEO Steven Burd said that the company did at least 100 hours of due diligence before signing a deal worth close to $400 million that would’ve put Theranos blood testing machines in almost a thousand Safeway stores. CNBC reports […]
  1. Trends & External Forces
Best Buy is betting that a good deal of health care in the future will be based in the home. The consumer electronics giant said that it has entered into an agreement to acquire Current Health, a U.K. care-at-home technology platform that brings together remote patient monitoring, telehealth and patient engagement into a single solution for healthcare organizations. […]
  1. Trends & External Forces
This week we welcome special guest Robbie Kellman Baxter, the world’s leading expert on subscription pricing and membership models–and bestselling author–for a robust discussion of “The Membership Economy.” We delve into what’s been behind the phenomenal success of brands like Netflix and other disruptors that employ deep insight and the latest technology to build enduring […]
  1. Channel: Specialty & Other
Best Buy said Tuesday that it’s expanding its new annual membership program, Totaltech, nationwide, reports CNBC. The retailer is including a perk that may nudge people to sign up: access to hard-to-find items during the holiday season, although Best Buy didn’t specify what those items will be. Totaltech costs customers $199.99 per year and members […]
  1. Channel: Mass
Why should employees wait for payday to gain access to wages already earned? Turns out that plenty of hourly workers at big-box retailers such as Target, Walmart, and Best Buy don’t have to if they tap into their earned wage access (EWA) benefits. EWA, particularly during the post-pandemic labor shortage in retail, is an attractive […]
  1. Shopper & Customer
RETHINK Retail’s Solution Spotlight shines a light on industry vendors and what makes them distinct. This spotlight from Groceryshop 2021 is on Criteo, a global technology company that powers the world’s marketers and media owners with trusted and impactful advertising through the world-leading Commerce Media Platform, a suite of products that activates the world’s largest […]
  1. Corporate Purpose
Analysts from various Wall Street firms are bullish on retailers such as Best Buy, with its new annual membership program, Lowe’s, based on market conditions and the company’s fundamentals, as well as Etsy and RH for growing sales at rates well above what can be considered a lift from changes in consumer behavior brought about […]

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Editor’s Choice

  1. RetailWit QuickWit
It’s time for a Friday evening QuickWit, short and sweet. Interesting news on the CVS and Microsoft partnership, as we have seen Microsoft successfully partner with other retailers already (i.e. Kroger with KPM). Additionally, Ahold seems to be on the upswing as Food Lion added a significant number of new stores this year. Happy weekend […]
  1. RetailWit QuickWit
Kroger beats earnings estimates with a great Q3 Kroger’s CEO Rodney McMullen said on the investor call that new cooking skills, bigger holiday gatherings are lifting grocery sales. Identical sales (exc fuel) increased 3.1% (+14% on a two-year stack) The two-year stack for digital sales increased 103%. Sales were $31.9 billion in the third quarter, […]
  1. RetailWit QuickWit
Ahold Delhaize unveils growth plan The plan is expected to generate an incremental $11B in sales by 2025. It consists of four components: (1) “…developing deeper digital relationships”, (2) “accelerating… omnichannel transformation”, (3) “leading the transformation into a healthy and sustainable food system”, and (4) “leveraging the company’s portfolio to create the ultimate ecosystem for […]
  1. Holiday & Events
  2. Holiday & Events
Vaccinations have made in-store shopping possible and even fun, but this holiday season remains complicated. Black Friday — it’s complicated. Perhaps above all, the pandemic isn’t over (and unfortunately could be entering another worrisome phase, according to a report from the World Health Organization over the Thanksgiving weekend). Throughout 2021, retailers and consumers have continued to grapple with […]

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