Best Buy

  1. Data & Insights
The Retail Industry Leaders Association has partnered with Optera to launch the Direct-Use Product Emissions Database (DPED), to provide retailers and their suppliers with an aligned database for quantifying greenhouse gases emitted during use by appliances, electronics and power equipment. The DPED’s goal is to foster uniform metrics for comprehending and managing scope 3, category […]
  1. Media & Marketing
Best Buy is rolling out new features in its mobile app to better personalize the shopping experience. The electronics retailer promises that “each time you open the app, your experience will become more tailored and relevant,” with My Best Buy Plus or My Best Buy Total loyalty program members getting access to even more personalized offers and exclusive […]
  1. Channel: Mass
Seeking a middle ground on support for LGBTQ+ causes as Pride Month approaches, Target will offer Pride-themed adult apparel and home goods in “select stores, based on historical performance,” with the full collection available online. The retailer was embroiled in controversy last year when it pulled Pride-themed products from shelves after threats, protests and vandalism […]
  1. Channel: Specialty & Other
The office of New York State Comptroller Thomas DiNapoli has sent a letter to the top executives at Best Buy expressing concerns about the retailer’s support for inclusivity, specifically LGBTQ+ rights and equality. The letter was sent last month after a Securities & Exchange Commission (SEC) filing revealed that Best Buy offered to “screen” employee […]
  1. Shopper & Customer
Best Buy and media site CNET will work together to provide shoppers with experts’ picks and product reviews throughout their purchasing journey. The retailer and tech publisher’s new partnership also will allow advertisers to share ad spaces across both ecosystems, allowing them to see the impact of their campaigns through a full-funnel, closed-loop media solution. […]
  1. Technology & Innovation
“Technology is at the heart of societal and business transformation,” said Dex Hunter-Torricke, Head of Global Comms and Marketing at Google’s DeepMind specialist AI unit, as he shared some use cases with the conference audience at Retail Technology Show (RTS) 2024 today. The former Facebook and SpaceX executive is a vastly experienced specialist who shared […]
  1. Technology & Innovation
We are past the point of conjecture about whether AI will upend the retail industry; it already has. In a recent study sponsored by Nvidia, 69% of retailers that used AI in 2023 reported that it increased revenues, and 72% said it reduced operating costs. With these kinds of results, it is no wonder 81% […]
  1. Department: Consumer Durables
Best Buy, one of the largest retail collectors of e-waste in the U.S., is partnering with Microsoft on a new activation designed to inspire consumers to recycle their unwanted laptops and tablets. During Earth Month in April, customers can bring in any eligible laptop or tablet to a Best Buy store for recycling and save […]
  1. Technology & Innovation
Paramount Global will debut a new mobile shopping experience, powered by Shopsense AI, during the CMT Music Awards red carpet pre-show on April 7, 2024. Paramount is the inaugural partner for Shopsense’s new retail media platform, which allows viewers to shop for products and curated collections inspired by television content on content providers’ apps and […]
  1. Corporate Strategy
It was a tough week to be at the top in retail with a number of companies announcing CEO switch-ups following disappointing performances, including Petco, Under Armour, Fossil Group and, as Retail TouchPoints previously reported, Allbirds. Former Best Buy COO to Lead Petco While CEO Search Gets Underway Ron Coughlin — who led Petco through […]
  1. Department: Nonfood
Ron Coughlin, who led Petco for five years as the pet retailer’s CEO, announced Wednesday he was stepping down from the company and would remain as an advisor to the board. Petco named Michael Mohan, the former Best Buy president and COO, interim CEO while the board conducts a search for a permanent chief executive. […]
  1. Trends & External Forces
Our guest this week is Andrea Dorigo Head of Global Retail for Adidas. Andrea shares many strategic leadership lessons gleaned from his  incredibly deep and diverse experience working across a spectrum of international brands. Now he leads a network of more than 2,000 stores for one of the world’s most iconic vertically integrated brands. We […]
  1. Stores & Formats
The Washington Post writes that “two of the biggest names in big-box retail have boosted their bets on a growing trend for brick-and-mortar sales: smaller stores. “Best Buy and Macy’s this week announced plans to add small-format stores in a strategy that could help the companies cut costs while answering customers’ demand for convenience. They […]
  1. Media & Marketing
Best Buy will leverage its membership-based loyalty program to sharpen personalization efforts for its 2025 fiscal year, which began Jan. 29, 2024. The retailer also plans to concentrate on updating and refreshing existing stores rather than opening new brick-and-mortar locations, as well as “improving and livening the merchandising presentation given the shift to digital shopping […]
  1. Trends & External Forces
The Wall Street Journal reports that “Walmart is shopping in the TV aisle to help grow its advertising business.  The retail giant is in talks to buy smart television-manufacturer Vizio for more than $2 billion, according to people familiar with the situation. The move would give Walmart more places where it can sell ads and pitch […]
  1. Channel: Club
The Street reports on a new pricing strategy at Costco:  When customers buy bigger-ticket items, like appliances or larger televisions, from chains such as Target, Walmart and Best Buy, they “don’t see the full prices when they look at those items — specifically appliances — on the floor.”  In fact, the story says, “you face […]
  1. Trends & External Forces
Best Buy Canada has partnered with Bell Canada to operate 165 stores in malls and smaller and mid-sized communities across the country. The stores, which had been branded as The Source, a wholly owned subsidiary of Bell, will be renamed Best Buy Express and offer both Best Buy consumer electronics and telecom services from Bell. […]
  1. Technology & Innovation
A looming recession. Mass layoffs. The rise of generative artificial intelligence. There’s no doubt that 2023 presented the e-commerce industry with a myriad of obstacles. For many retailers, this provided an opportunity to experiment with new technologies and ways of selling. This year, we’ll see the outcomes of those experiments come to fruition as merchants […]
  1. Retailer Media
For several years now the term “retail media” has been buzzing around both retail and media circles. Whether you’re looking for a deeper understanding of the implications and applications of retail media or need a down-and-dirty explainer on what retail media actually is, you’ve landed in the right place. This special Retail TouchPoints resource hub […]
  1. Media & Marketing
Editor’s Note: This story was originally published on July 6, 2023. As 2023 comes to an end, we are republishing some of our most-read content of the year; no changes have been made to this article since its original publication. We look forward to continuing to deliver original, thought-provoking stories like this one to our […]
  1. Corporate Strategy
by Kevin Coupe A few weeks ago, I looked askance at a comment by Best Buy CEO Corie Barry that blamed all the money that Taylor Swift fans were spending on concert tickets and merchandise for stagnant sales in her stores.  I thought it was a silly comment – a retailer’s job is to understand […]
  1. Trends & External Forces
CVS Health will launch a new model for pharmacy reimbursements designed to bring greater transparency and simplicity to the system. CVS CostVantage, which the company plans to launch in 2025, will define the drug cost and related reimbursement with contracted pharmacy benefit managers (PBMs) and payors, using a transparent formula built on the cost of […]
Advertisement

Trending Topics

Editor’s Choice

  1. Technology & Innovation
  2. Department: Consumer Durables
  3. Department: Nonfood
  4. Corporate Strategy
  5. Corporate Finance
  6. ESG
  7. Partnerships & Alt Profit
  8. Media & Marketing
  9. Data & Insights
  10. International
  11. Shopper & Customer
  12. Technology & Innovation
  13. Trends & External Forces
  14. Retail Operations
  15. Operations & Supply Chain
TikTok has given us “girl math” and “boy math,” and now I’d like to add “Tech Math” to the mix. Tech Math is when every technology partner tells you that they have contributed (fill in the blank) $XX million in additional sales…and yet, surprisingly, the business isn’t up nearly as much, if at all.  Despite […]
  1. Trends & External Forces
  2. Agencies & Vendors
  3. Shopper & Customer
  4. Trends & External Forces
Consumer Price Index inflation slowed to 2.3% in April, down from 3.2% in March, albeit higher than expected, according to the Office for National Statistics. It’s the lowest level since the summer of 2021, versus 3.2% in March. The news follows yesterday’s announcement from Kantar… This story continues at Industry reacts to CPI inflation dipping […]
  1. Channel: Mass
  2. Department: Consumer Durables
  3. Department: HBC
  4. Corporate Strategy
  5. Corporate Finance
  6. Media & Marketing
  7. Shopper & Customer
  8. Merchandising
  9. Operations & Supply Chain
MINNEAPOLIS—Target reported that first-quarter sales were down compared to last year, as it had projected. However, the company expects sales to turn positive in the second quarter and for the year as a whole. Comparable sales declined 3.7% in the first quarter, reflecting a comparable store sales decline of 4.8% partially offset by a comparable […]
  1. Partnerships & Alt Profit
  2. Channel: Delivery
  3. Channel: Ecommerce & Digital
  4. Channel: Home Improvement
  5. Department & Category
  6. Department: Food
  7. Department: Nonfood
  8. Corporate Strategy
  9. Partnerships & Alt Profit
  10. Media & Marketing
  11. Technology & Innovation
  12. Trends & External Forces
  13. Associates & Employees
  14. Merchandising
Petco, partnering with Van Leeuwen Ice Cream and human-grade dog food brand Ollie, will offer canine-safe ice cream for hot dogs seeking a cool treat. The non-dairy peanut butter and banana recipe is now available at Van Leeuwen scoop shops across the country, as well as at most Petco locations and online at petco.com for […]
  1. Department: Food
  2. Channel: Ecommerce & Digital
  3. Channel: Mass
  4. Department & Category
  5. Department: Food
  6. Corporate Strategy
  7. Media & Marketing
  8. Shopper & Customer
  9. Trends & External Forces
  10. Associates & Employees
  11. Holiday & Events
  12. Merchandising
  13. Operations & Supply Chain
  14. Stores & Formats
BENTONVILLE, Ark. — Walmart recently opened two new Neighborhood Markets, one in Florida and one in Georgia, that offer expanded assortments and more space for pickup and delivery. The new stores, one in the Dune Lakes area of Santa Rosa Beach, Florida, and the other in the Vine City neighborhood of Atlanta, feature updated layouts […]

Trending

Advertisement
Note: Requires ChatGPT Plus