Best Buy

  1. Corporate Strategy

Tuesday Eye-Opener:  Powered Down

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 […]
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  1. Trends & External Forces

CVS Launches Programs to Add Transparency to Prescription Pricing

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 […]
2 min read
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  1. Technology & Innovation

’Tis the season for shopping and romcoms: RTIH runs back the week’s coolest retail technology plays

RTIH Editor, Scott Thompson, brings you his top ‘future of retail’ systems launches and deployments from the past week, including Amazon, Pinterest, Aldi, Walmart, HMV, New Look, TrusTrace, One Water, Polytag, BERSHKA, and 3DLOOK. Amazon Amazon has opened a Second Chance Store in London, giving festive shoppers the chance to buy quality returned products in-person, […]
5 min read
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  1. Technology & Innovation

Including HMV, Asda, and Ikea UK: RTIH presents the retail technology week in numbers

Do you like numbers? Do you like retail systems news? Then this is the article for you. Including TrusTrace, New Look, Square, Fossil Group, NewStore, InPost, and the 2023 RTIH Innovation Awards. 5…This week, we announced the winning submissions for the 2023 RTIH Innovation Awards, sponsored by PMC, FreedomPay, Worldpay from FIS, CADS, 3D Cloud […]
6 min read
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  1. Media & Marketing

The Small Seller’s Guide To Holiday Live Selling

The holidays have always been an opportune time for small business owners to attract new customers, but this year could prove especially fruitful for retailers with the right strategies, as the National Retail Federation predicts holiday spending will jump 3%-4% from last year.  While brick-and-mortar establishments are welcoming holiday shoppers with doorbuster deals and glittering […]
4 min read
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  1. Channel: Specialty & Other

Best Buy sales fall 8% as electronics demand stumbles

​[[“value”:” Dive Brief The retailer lowered its guidance as a result of consumer uncertainty, but CEO Corie Barry said the sector should stabilize next year. Published Nov. 21, 2023 A Best Buy storefront. The retailer is revamping the merchandising in its stores with improved endcaps and more space for new product categories. Daphne Howland/Retail Dive […]
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  1. Data & Insights

Holiday sales below year-ago levels as 2023 season begins

Key Takeaways Online Marketplaces like Temu and Amazon are outperforming Share of sales online is stable or rising across most categories Luxury and home goods are underperforming Holiday sales decline for first time in years Contact Sales for more details. Holiday sales are down 1.7% YoY in the first 8 days of the holiday season according […]
3 min read
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  1. Trends & External Forces

Best Buy Health Partners with Leading Hospital to Support In-Home Care

In collaboration with Boston’s Mass General Brigham hospital, Best Buy Health will support an expanded home-based health care delivery model designed to improve how safe, quality care can be provided with technology and clinical expertise. The partners’ first priority is to scale and support Mass General Brigham’s Home Hospital, which will expand access to Massachusetts […]
2 min read
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  1. Channel: Specialty & Other

Best Buy, Home Depot Embrace Live Video Shopping for Holiday

Ahh, holiday fare: Rudolph the Red-Nosed Reindeer, How the Grinch Stole Christmas…and live video shopping from two of the country’s biggest retailers, The Home Depot and Best Buy. Merry & Bright, Home Depot’s shoppable content series, drops its three 10-minute episodes on Nov. 1, 2023 on Vizio, where they will be accessible through the end […]
2 min read
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  1. Channel: Mass

Share of Wallet and Funflation

Kevin Jordan-Deen, SVP at Colgate-Palmolive, encouraged me last week to re-imagine and re-create a “Share of Wallet” cartoon I originally drew in 2009 during the “Great Recession”.   When I drew the original cartoon, I was GM for the recently launched Method brand in the UK.  Much of the recessionary marketing climate at the time […]
3 min read
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  1. Channel: Drug

Your Views:  Performance Issues

This reaction to our story about Rite Aid’s bankruptcy: Sad story about Rite-Aid.  Living in a town that has all three (RA, CVS, & Walgreens), I foresee the only thing keeping the Rite-Aid open is the fact that it is in a neighborhood area and likely gets decent local foot traffic.  I cannot imagine that’s […]
4 min read
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  1. Media & Marketing

Best Buy to Exit Physical DVD and Blu-Ray Sales in 2024

In yet another sign of the triumph of streaming, Best Buy will reportedly stop selling physical DVDs in-store and online beginning in 2024, according to CNBC and other media outlets. The retailer will continue to sell DVDs and Blu-Ray discs through the 2023 holiday season. The news comes just a few weeks after Netflix announced […]
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  1. Technology & Innovation

Including Asda, Nobody’s Child, and Kingfisher: RTIH’s biggest retail technology news stories from September

It’s October, September is done and dusted, so let’s kick back and reflect on a hugely eventful few weeks for the retail systems space. Here’s your briefing on the most important stories from last month, including Walmart, POCLab, Amazon, Avery Dennison, and the 2023 RTIH Innovation Awards. 1. Walmart works with POCLab on The Cultureverse, […]
5 min read
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  1. Trends & External Forces

Costco Gets Into Healthcare Business

The Seattle Times reports that Costco is making a healthcare play, offering its customers/members access to online primary care visits for $29, and mental health visits for $79. The services are being offered through the online health marketplace Sesame, which also will offer Costco members 10 percent off other health services.  The Times says that […]
2 min read
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  1. Technology & Innovation

Starring Asda, Walmart, and Decathlon: RTIH’s biggest retail technology news stories of the week

It’s Friday, the weekend is almost upon us, so let’s kick back and reflect on another eventful week for the retail systems space. Here’s your briefing on the most important stories from the past five days, including autonomous stores, virtual commerce, Just Walk Out tech meets RFID, and phone shops reinvented. 1. Pixevia works with […]
5 min read
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  1. Channel: Ecommerce & Digital

Amazon Announces Oct. 10-11 as Next Prime Sale

Amazon.com announced on Monday that its next Prime Day sale will be held Oct. 10-11, promising deals as often as every five minutes during the 48-hour event. This is the second Prime Day event the online retail giant has held this year. During the July Prime Day event, the top-selling deal categories included home, fashion and […]
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  1. Channel: Mass

Walmart, Target follow Amazon with early start to holiday sales

​[[“value”:” Dive Brief Consumer electronics retailer Best Buy has also stepped up, with deals set to start several weeks ahead of Black Friday and Cyber Monday. Published Sept. 19, 2023 A Walmart truck. Walmart, Target and Best Buy announced details about early holiday shopping deals this week. Provided by Walmart.  “]] 
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  1. Shopper & Customer

Wiser Insights: Navigating 2023’s Online Back-to-School Retail Trends

The back-to-school season signals change and growth for students and presents a significant sales opportunity for retailers. It’s not just about selling basic school supplies anymore. The emergence of eCommerce has transformed traditional shopping habits, with a growing number of parents and students turning to online platforms to fulfill their annual back-to-school shopping needs. This […]
4 min read
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  1. Retailer Media

As Advertisers Shift Budgets into Retail Media, IAB Releases Measurement Standards

The Interactive Advertising Bureau (IAB) has released a preliminary framework to standardize retail media measurement. The framework was developed in collaboration with the Media Rating Council (MRC) as well as 55 companies with a stake in the performance of retail media, including The Mars Agency, Albertsons Media Collective, Google, Unilever U.S., Criteo, Best Buy Ads, […]
3 min read
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  1. Retailer Media

As Advertisers Shift Budgets into Retail Media, IAB Releases Measurement Standards

The Interactive Advertising Bureau (IAB) has released a preliminary framework to standardize retail media measurement. The framework was developed in collaboration with the Media Rating Council (MRC) as well as 55 companies with a stake in the performance of retail media, including The Mars Agency, Albertsons Media Collective, Google, Unilever U.S., Criteo, Best Buy Ads, […]
3 min read
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  1. Partnerships & Alt Profit

The Weekly Closeout: Academy Sports and Outdoors expands assortment, and has pumpkin spice gone too far?

​[[“value”:” This audio is auto-generated. Please let us know if you have feedback. It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about.  From a new global brand president at […]
4 min read
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  1. Trends & External Forces

John Mackey’s Love.Life Strategy Explained

Fast Company has an interview with Whole Foods co-founder John Mackey, who last year left the company that he sold to Amazon in 2017 for $13.7 billion and now is starting a new business: “Mackey, who will turn 70 on August 15, has reteamed with two 25-year Whole Foods veterans: Walter Robb, who worked his […]
3 min read
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  1. Media & Marketing

5 Things to Consider When Experimenting With In-Store Retail Media

Retail media networks (RMNs) are expanding rapidly, and retailers of all sizes are joining the race, offering ad placements on an ever-widening variety of channels. The opportunity here is enormous, as these ads are shown to people who are already looking to make purchases — which isn’t necessarily the case when compared to ads on […]
5 min read
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  1. Trends & External Forces

GNC Launches Supplemental Healthcare Service to Loyal Customers

GNC, the 87-year-old vitamin and dietary supplement company, announced Tuesday it would be offering its loyalty customers a free supplemental healthcare service. GNC Health is now available exclusively to GNC PRO Access members. A membership to this loyalty program costs $39.99 a year, and the healthcare service includes telehealth appointments for urgent and personal health needs […]
2 min read
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  1. Channel: Ecommerce & Digital

Amazon touts ‘biggest ever’ Prime Day as U.S. online sales surge to $12.7 billion

KEY POINTS Online spending in the U.S. climbed 6.1% to $12.7 billion during Amazon’s Prime Day promotion, according to Adobe Analytics, as deal-hungry consumers snapped up home goods and household essentials. Amazon called the event its “biggest ever” Prime Day, with shoppers buying more than 375 million items worldwide over two days, up from 300 million […]
2 min read
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  1. Shopper & Customer

The Inform Consumers Act Targeting Organized Retail Crime Takes Effect

The Inform Consumers Act, a new law that aims to curb organized retail theft and the sale of counterfeit and harmful products on online platforms, takes effect on Tuesday as more retailers blame theft as a reason for lower profits, reports CNBC. Congress passed the Integrity, Notification, and Fairness in Online Retail Marketplaces for Consumers Act — or the INFORM […]
2 min read
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Editor’s Choice

  1. Trends & External Forces
  2. Channel: Mass
  3. Department: Consumer Durables
  4. Department: Nonfood
  5. Corporate Strategy
  6. Corporate Finance
  7. Partnerships & Alt Profit
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  13. Stores & Formats

NRF Retracts Claim that Organized Retail Crime Accounted for ‘Nearly Half’ of Retail Shrink

The National Retail Federation (NRF) has updated a report that had attributed “nearly half” of 2021’s $94.5 billion in retail shrink to organized retail crime, saying the data point was part of two-year-old testimony to a U.S. Senate committee by Ben Dugan, former President of the Organized Retail Crime Resource Center. The NRF report was […]
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