Best Buy

  1. Trends & External Forces
In a number of unrelated stories this morning, there seems to be a consensus that while inflation will be a continuing problem, the economy is in generally good shape, with some level of confidence that there will not be a recession anytime soon. From CNBC: “U.S. consumers are ‘in good shape’ and will keep spending […]
  1. Shopper & Customer
  There is no doubt that consumers are evolving with technology so fast many retailers feel that they can’t keep up, it cost too much to keep up, or that they should not try to keep up. The team at Foodservice Solutions® believes that it’s not the technology that’s the problem. The problem is how […]
  1. Trends & External Forces
Best Buy’s sales fell 8.5 percent during the first quarter and earnings were down as the consumer electronics chain reported a modest increase in inventory. The retailer reduced its forecast for the year, but CEO Core Barry was confident in its future prospects. “Even with the expected slowdown this year, we continue to be in […]
  1. Channel: Specialty & Other
Best Buy hasn’t been able to withstand the economic triple whammy of a pandemic, supply chain snags and a looming recession as well as some other brands, and that struggle has the company rethinking what lies ahead for it the rest of this fiscal year. While Best Buy stock continued to rise in early trading […]
  1. Channel: Delivery
The Wall Street Journal this morning reports that Instacart filed “confidentially” a draft registration statement with the US Securities and Exchange Commission (SEC), a first step in the process of an initial public offering (IPO). The New York Times explains that a confidential filing means that “it does not yet have to disclose certain data […]
  1. Stores & Formats
Over the next year, Best Buy will double the number of outlet stores it has to 32 — starting with new outlets in Chicago, Houston, Phoenix, and Manassas, Virginia — and add an outlet deals section to its website for the first time, the company announced earlier this week. Best Buy has operated outlet stores since […]
  1. Shopper & Customer
We had an open letter to Jeff Bezos the other day that was highly critical of a new Amazon Fresh store, prompting MNB reader Monte Stowell to write: This open letter to Jeff Bezos by the 69 year old shopper is a call to action by Jeff Bezos. Does one believe that Jeff Bezos is […]
  1. Shopper & Customer
For most brands, winning endorsement from Kim Kardashian, with her 290 million Instagram followers, is the stuff dreams are made of. For oral cosmetics brand Snow, the Kardashian seal of approval is one in a long line of celebrity recommendations, including from film stars such as Chris Pratt, TV legends such as Ellen DeGeneres, and […]
  1. Channel: Specialty & Other
Following a March 2022 announcement that it planned to expand beyond its roots in electronics, Best Buy is entering new categories including health and wellness, outdoor living and transportation. Citing technology’s connection to the health and wellness industry, Best Buy has introduced a new collection of skincare technology products from brands such as Foreo, Vanity […]
  1. Technology & Innovation
RTIH asks major players in the retail technology space for their thoughts on the sector, and throws in a random question to keep them on their toes. This time around, our five questions go to leading industry analyst and RTIH Innovation Awards judge Christine Russo.  RTIH: Looking at the hottest retail technologies right now, check-out […]
  1. Corporate Purpose
It’s easy to declare yourself a purpose-driven organization. It’s much harder, however, to identify just the right purpose, and to activate it throughout the organization so it naturally elevates your business strategy and operations.  Driven by stakeholder demands for companies to stand for more than profits, and a belief that businesses are more capable than […]
  1. Shopper & Customer
Best Buy’s new Standalong Haul-Away service will come to customers’ homes and take away unwanted tech equipment and appliances for a $200 fee. There are a set of rules and restrictions on the number and type of items the service will accept. Members of Best Buy’s Totaltech program will receive a 20 percent discount on […]
  1. Operations & Supply Chain
Many innovative product startups dream of getting into stores like Walmart, Best Buy, Costco and more, but fail to think about whether that is even a good thing. Don’t get me wrong, getting your product into several thousand stores can be great, but if you’re not ready to handle that business your retail dreams may […]
  1. Department & Category
A weekly podcast with the latest e-commerce news and events. In episode 288 we cover some industry news and review retailers Q4 earnings reports. Subscribe: Apple Podcasts Google Podcasts Spotify Stitcher Podcast RSS SoundCloud TuneIn iHeartRadio Google Play Music Overcast Pocket Casts Facebook ????? News eTail West Tradshow Amazon Stock Split Shopify Fulfillment Network eBay […]
  1. Channel: Specialty & Other
CNN reports that Best Buy, having survived and even thrived despite tough competition from the likes of Amazon, now wants to “expand its footprint into health, fitness, personal electric transportation, outdoor products and other potentially big ticket areas outside of its core consumer electronics business. “It’s adding merchandise to stores in dedicated sections, such as […]
  1. Stores & Formats
Today in retail, Best Buy talks about the transformational power of technology, while Burlington Stores hopes to see foot traffic increase in 2022 after a Q4 slump has investors and analysts skittish. Plus, discount retailer Big Lots looks to increase its eCommerce sales. Best Buy Faces Higher Costs, Says Tech Has ‘Changed Every Aspect of […]
  1. Technology & Innovation
Praetura Ventures has invested £1.5 million into Sparkbox, a UK-based startup that uses AI and data to help retailers’ merchandising teams make better stock buying and pricing decisions.  Launched in 2019, Sparkbox works with the likes of River Island and MATCHESFASHION, enabling them to forecast demand, optimise their pricing and promotions and plan inventory to […]
  1. Channel: Specialty & Other
Best Buy reported a 2.3 percent decline in same-store sales as supply chain issues on popular products and reduced store hours tied to the spread of the Omicron variant dampened its performance. Matt Bilunas, Best Buy CFO, expects that sales in 2022 will remain above pre-pandemic levels.
  1. Shopper & Customer
History tells us that until a consumer hits “Buy,” they can easily change their mind or a competitor could snatch them away. At every step of the customer journey, a dozen brands are competing for their attention. That’s why you need to do everything you can to nudge potential customers along the path to purchase. […]

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Editor’s Choice

  1. Channel: Dollar/Value
  2. Channel: Dollar/Value
  3. Corporate Strategy
  4. Corporate Finance
  5. Department: Consumer Durables
  6. Media & Marketing
  7. Shopper & Customer
  8. Technology & Innovation
  9. Trends & External Forces
  10. Operations & Supply Chain
  11. Stores & Formats
GOODLETTSVILLE, Tenn. — Dollar General on Thursday reported net sales of $8.8 billion for its fiscal year 2022 first quarter, an increase of 4.2% over the prior-year period. The net sales increase was primarily driven by positive sales contributions from new stores, partially offset by a slight decline in same-store sales and the impact of […]
  1. Data & Insights
  2. Corporate Strategy
  3. Department: HBC
  4. Media & Marketing
  5. Data & Insights
  6. Shopper & Customer
  7. Trends & External Forces
  8. Merchandising
WOONSOCKET, R.I. — CVS Health announced on Thursday the launch of CVS Health Virtual Primary Care, a new virtual care solution available through a single digital platform. The offering connects CVS Health’s services, clinical expertise, and data for a more coordinated and consumer-centric health care experience. The company said the new solution enables consumers to […]
  1. Retailer Media
  2. Corporate Strategy
  3. Media & Marketing
  4. Retailer Media
  5. Data & Insights
Retail media networks (RMNs) are an exciting place to run ads, because of the valuable first-party data that retailers have about their customers. RMNs create an ability to target a specific retailer’s customers and provide valuable insights into how people shop. And brands certainly are not hurting for choices. Just last week, Ulta announced a media network and the hotel chain, Marriott, the week prior.