Best Buy

  1. Channel: Apparel

Perch CEO Chris Bell Clearcuts His Way Through the Amazon Jungle

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 […]
2 min read
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  1. Holiday & Events

Organized retail crime didn’t take a Thanksgiving break

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.
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  1. Operations & Supply Chain

President Biden meets with retailers to talk supply chain workarounds

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. […]
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  1. Channel: Specialty & Other

Is the Best Buy Crash an Overreaction to the Retail “Crime Wave”?

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
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  1. Trends & External Forces

Organized Theft Causing Retail Employee Tsuris

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 […]
2 min read
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  1. Channel: Ecommerce & Digital

Best Buy earnings top estimates but retailer’s stock tumbles amid weakening demand, shipping bottlenecks

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 […]
3 min read
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  1. Technology & Innovation

Holiday Retail 2021 Data Shows More Visits, More Online

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 […]
4 min read
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  1. Channel: Ecommerce & Digital

Amazon rolls out in-store pickup for products ordered from local retailers

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 […]
2 min read
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  1. Corporate Purpose

Your Views: Waste Not

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 […]
2 min read
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  1. Channel: Mass

Walmart To Give Walmart+ Members First Crack At Black Friday Deals

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 […]
2 min read
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  1. Acquisitions, Divestitures & Mergers

Best Buy Pushes Further Into Healthcare With Current Health Acquisition

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 […]
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  1. Channel: Grocery

Former Safeway CEO’s Theranos Trial Testimony Focuses On Health Care Ambitions

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 […]
3 min read
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  1. Trends & External Forces

Best Buy to acquire Current Health as it dives deeper into home health care

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. […]
2 min read
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  1. Trends & External Forces

The Membership Economy the World’s Leading Expert on Subscription Pricing Robbie Kellman Baxter

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 […]
2 min read
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  1. Channel: Specialty & Other

Best Buy Extends Paid Membership Program With Access to High-Demand Items

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 […]
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  1. Channel: Mass

How Retailers Benefit From Providing Early Wage Access

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 […]
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  1. Shopper & Customer

Groceryshop 2021 Solution Spotlight: Criteo

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 […]
2 min read
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  1. Corporate Purpose

Analysts are high on retailers positioned for sustainable growth

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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Trending Topics

Editor’s Choice

  1. RetailWit QuickWit

Daily QuickWit (12/3) – Top Retail News of the Day

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 […]
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  1. RetailWit QuickWit

Daily QuickWit (12/2) – Top Retail News of the Day

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, […]
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  1. RetailWit QuickWit

Daily QuickWit (11/30) – Top Retail News of the Day

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 […]
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  1. Holiday & Events
  2. Holiday & Events

Winners and losers of Black Friday 2021

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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