Best Buy Co Inc in Retailing

Company Profile

About This Report

Jan 2016

Best Buy saw poor sales growth and exits from Europe and China from 2010 to 2015, as well as the consolidation of its operations in Canada in 2015. However, the company managed to revitalise its US business. The company’s store-within-store partnerships with Samsung and Apple, as well as its Renew Blue plan, which includes a price matching strategy and focuses on multichannel retailing, are helping the company tackle showrooming and are boosting competitiveness against e-commerce retailers.

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Best Buy Co Inc in Retailing

Euromonitor International's report on Best Buy Co Inc delivers a detailed strategic analysis of the company's business, examining its performance in the Non-Store Retailing market and the global economy.

Company and market share data provide a detailed look at the financial position of Best Buy Co Inc, while in-depth qualitative analysis will help you understand the brand strategy and growth prospects of Best Buy Co Inc.

This report examines:
  • Company share by region and sector
  • Brand portfolio
  • New product developments
  • Marketing and distribution strategies

A detailed SWOT analysis of Best Buy Co Inc provides strategic intelligence on:
  • Strengths and weaknesses
  • Category and country opportunities for growth
  • Challenges and threats from current competition and future prospects
  • Global and regional market positions

Research You Can Trust:

Euromonitor International's company profile reports are written by our Non-Store Retailing research team, a dedicated group of analysts that knows the industry inside and out.

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Scope of the Report

Scope

Strategic Evaluation

Key company facts
Canadian consolidation continues to slow Best Buy growth in 2016
SWOT: Best Buy Co Inc.
Key challenges: Sustain growth amid widespread competition

Competitive Positioning

Best Buy struggles as internet retailing takes centre stage
Competitive context: Best Buy leads globally despite falling share

Domestic Strategy

International sales drop as Best Buy exits markets
Domestic e-commerce sales significantly outpace in-store growth
Best Buy directly addresses showrooming in ad campaigns
Domestic instalment billing plans support latter 2016 sales growth

International Strategy

Best Buy's international strategy fails to take off
Lessons from Best Buy’s exit from the UK and China
Canada: Consolidation and a focus on internet retailing
Best Buy in Mexico sees strong growth

multichannel Strategy

Internet sales remain Best Buy’s fastest growing channel
Big box format supports ship-to-store, click-and-collect online sales
Best Buy changes direction to become an “online first” retailer
Becoming an “online first” retailer: Phase two

Brand and Private Label Strategies

Best Buy stand-alone: Smaller formats target the mobile consumer
Store-within-store expansion bolsters appliance, electronics growth
Well-developed private label range, but unlikely to expand

Operations

Best Buy’s turnaround strategy: Renew Blue
Best Buy’s turnaround strategy: Renew Blue
Supply and distribution

Opportunities and Recommendations

Key recommendations