Amazon and other online retailers are slowly bleeding big-box electronics stores to death, a fact made all the more obvious this week when RadioShack announced that it was closing down 1,100 stores. Paul Kedrosky points us to a graph put together by The Financial Times that shows how the total overall footprint for major electronics retailers in the United States has been shrinking for the past several years. The total number of electronics retailers in the U.S. has been on a downward trajectory ever since 2009 when Circuit City liquidated its last outlet. Best Buy and Apple have held mostly steady but the recent RadioShack closings mean that the number of electronics outlets in the U.S. has shrunken dramatically. The Financial Times’ graph follows below. More →
In addition to offering customers the chance of saving $50 on unreleased smartphones including the iPhone 6 and Galaxy S5, Best Buy has another smartphone and tablet sale bonanza for buyers looking to purchase a new on-contract handset next week or a new tablet in the following days, CNET reports. More →
Best Buy shares dipped by a massive -30% on Thursday morning as the initial reaction to its shocking same store sales decline for the Christmas period hit Wall Street. This really was a genuine surprise. Best Buy reported a same store sales decline of -0.8% despite the fact that its same store online sales soared by +23% from the previous Christmas. Back-to-back declines in Christmas sales now raise the possibility that Best Buy is slowly descending into the same secular decline hell where Barnes & Noble currently resides. More →
Christmas might be over but sales from big box retailers are still going strong. December is always a huge month for smartphone sales but those who decide to sit out the holiday shopping season are often rewarded with some surprisingly deep discounts. Among the more notable sales of these first few days of the new year is one from Best Buy, which offers post-holiday shoppers a brand new 16GB iPhone 5s for just $124.99 with a two-year contract, which is $74 off of the phone’s standard retail price. CNET notes that the sale only applies to iPhone 5s models for Verizon Wireless, AT&T and Sprint. Also of note, Apple’s 16GB iPhone 5c is still available from Best Buy for free on a two-year contract.
Apple may have given a big “Bah, humbug!” to its American fans this year but that doesn’t mean every Apple retailer has been quite so Scrooge-like with its Black Friday sales. AppleInsider notes that Best Buy is offering significant price cuts for assorted MacBook models for Black Friday this year, including a $200 price cut to the 13-inch MacBook Pro and a $150 price cut to 11-inch and 13-inch MacBook Airs. Other Best Buy Black Friday deals for Apple fans include offering the iPhone 5c for just $48 with a two-year contract; a free iPhone 4s with a two-year contract; and the iPad 2 for just $300.
After selling 1 million PlayStation 4 units in the U.S. and Canada in the first 24 hours of availability, Sony sees more good PS4 sales signs coming from the region, as the console is already sold with a major retailer. Best Buy’s CEO Hubert Joly on Thursday confirmed to Reuters that the retailer has “pretty much run out” of PS4 stock. More →
Electronics retailers including Best Buy, Walmart and others are about to engage in a fierce Black Friday and holiday shopping price war. The fight is for market share rather than profits at a time of the year when several highly anticipated electronic devices are launched, including the new iPad models, or the PlayStation 4 and Xbox One consoles. The Wall Street Journal has spoken to Best Buy and Walmart execs, who confirmed that the holiday shopping season is of utmost importance for them, as electronics are seen as the main attraction for potential customers. More →
Even though sales of the new iPhone models have already rocketed to the top of every major wireless carrier, Best Buy might be looking to convert any stragglers that are still reluctant to switch to Apple. According to an internal document leaked by TechnoBuffalo, Best Buy will be running a promotion from October 13th to October 19th which will offer anyone who trades in a working smartphone a minimum $100 Best Buy gift card in order to purchase an iPhone 5s or iPhone 5c with a two-year activation. The offer states that the smartphone being traded in “must be undamaged (no cracked screen or liquid damage) and in working condition to qualify.” If no iPhones are in stock, the offer is still valid for reservations as well.
We learned on Friday that Samsung is set to bring in record profits this quarter, but that analysts do not believe smartphone-driven profit growth will be sustainable in the coming years. In order to counteract increasing market saturation, Samsung might be looking into buying a stake in Best Buy, one of the largest electronics retailers in the United States. Speaking with The Korea Times, Samsung vice chairman Lee Jae-yong said that he “recently met with senior executives at Best Buy and discussed pending business issues.” More →
It looks as though Google may be pushing its Glass headset out to traditional retail outlets. Rackspace startup liaison officer and noted Glass enthusiast Robert Scoble wrote on his Google+ account this week that he’s been hearing rumors that “Google is renting 6,000 square feet inside every Best Buy next year” so it can showcase and sell Google Glass to consumers. Having dedicated spaces within Best Buy stores has become very common lately as Apple, Samsung and Microsoft all have their own “stores-within-stores” at several Best Buy locations. Given where Scoble is best-known for showing off his Google Glass headset, however, a better fit for the device might be Bed, Bath & Beyond. More →
Take note, Xbox fans: if you haven’t already preordered your Day One Edition of Microsoft’s upcoming Xbox One, you now have one less retailer to consider if you’re hoping to order a console for delivery on the first day of availability. Best Buy is now completely sold out of the “Xbox One: Day One Edition” console bundle and is no longer taking preorders. The Day One Edition is also sold out at Amazon, though the site is still taking preorders for the Standard Edition. Those looking to preorder the limited edition Xbox One online can still do so from GameStop and Walmart, though it is unclear how much longer their allotted inventories will last.
Pebble CEO Eric Migicovsky on Tuesday announced an exclusive partnership with Best Buy to offer his company’s popular smartwatch at the Best Buy retail stores nationwide. The Pebble got its start on crowd-funding website Kickstarter in 2012, earning more than $10.2 million from 68,000 backers to become the most successful campaign in the site’s history. Market research firm ABI Research previously said that 2013 could be a breakout year for smartwatches, with shipments of more than 1.2 million devices, and Pebble’s partnership with Best Buy will do a great deal to help that figure become a reality. More →
When you walk into your local Best Buy store you will usually find a miniature Apple Store and a Samsung experience section, and soon you can expect to see a Windows store as well. Microsoft on Thursday announced that it has partnered with the retailer to create a store-within-a-store at 500 Best Buy locations in the United States and 100 locations in Canada. The stores will range in size from 1,500 square feet to 2,200 square feet, and will give consumers a chance to try a variety of Microsoft and Windows products, including tablets, PCs, phones, software and gaming systems. Each store will also contain a standalone section dedicated entirely to Microsoft’s Surface tablet. More →