Retail News CRM

Tag: Best Buy

  • Samsung authorizes Best Buy to provide in-store repairs for Galaxy S and Note series

    Samsung authorizes Best Buy to provide in-store repairs for Galaxy S and Note series

    Samsung announced it has partnered with Best Buy to offer customers the option to have their Galaxy devices repaired at over 100 of the retailer’s stores across the United States. Starting October 26, in-person support is available to all Samsung customers at any of the authorized Best Buy store.

    To benefit from the new service, Galaxy owners must first schedule an appointment with Best Buy’s team of Geek Squad Agents, the only ones certified and trained to repair Samsung Galaxy smartphones.

    Samsung also announced that its care service at Best Buy locations will offer front and back screen replacements, battery replacements, port and camera repairs, and other in- and out-of-warranty support service for Galaxy S series and Galaxy Notes series devices. Those who own any of Samsung’s Galaxy Z foldable phones should be able to benefit from the same care service starting early November.

    In order to find a Best Buy store authorized to perform in-store repairs, customers must check out the store locator on Samsung’s website. To schedule an appointment, you’ll have to visit another Samsung website, but first make sure that your Galaxy smartphone is eligible for this kind of service.

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  • Best Buy surprising acquisition after years

    Best Buy surprising acquisition after years

    The surprise Best Buy acquisition of GreatCall marks the electronics retailer’s first takeover in more than six years.

    Best Buy will spend US$800 million on GreatCall, one of the US’ largest providers of communications technology aimed at helping older adults live independently and more safely in their homes.

    San Diego-based GreatCall now has 900,000 subscribers to its service, which uses mobile technology and easy-to-handle devices to connect older adults with family members or with trained call centre operators who can answer questions or call emergency personnel if necessary.

    The move marks a strategic move away from Best Buy’s core retail business at a time when electronics has become much of a commodity market with thin margins and widespread online competition.

    Neil Saunders, MD of GlobalData Retail, says the investment marks “a logical evolution” for the company.

    “Over recent years there have been significant changes to the electronics market, including fierce competition from the rise of online. However, Best Buy has successfully navigated this new landscape – in large part because it has adapted its proposition and approach.

    One of the main changes has been the move from simply selling products to trying to help consumers select and get the best use out of new devices. In a sense, Best Buy now sees its role as helping consumers to improve their lives through technology.”

    Saunders says GreatCall gives Best Buy a relevant service, driven by technology, that it can offer to consumers.

    “In our view, it also helps counterbalance the pressure on both sales growth and margins of electronics products. The focus on health, and in particular health services aimed at the elderly, puts Best Buy squarely into a market with high demand and strong growth. Moreover, we see this as a good fit as Best Buy is a known and trusted brand name among older shoppers. This should enable the company to grow the GreatCall service.”

    Saunders said that long term, the move should be seen as part of Best Buy’s continued adaptation to a provider of services rather than a pure retailer of things.

  • New USA tariff plan draws backlash from US retailers

    New USA tariff plan draws backlash from US retailers

    Failing US president Donald Trump is facing widespread backlash from US retailers and brands over his intention to trigger a trade war with China and other nations.

    Just days after announcing tariffs on steel imports against the advice of officials, lawmakers and industry, Trump is now believed to be formulating sweeping tariffs on imported goods from China – a move retail and business groups warn will wipe away gains for the economy from the recent tax cuts.

    “This is not American industries crying wolf,” said Sandy Kennedy, president of the Retail Industry Leaders Association, which organised a letter to Trump, sounding alarm that such tariffs will boost prices of numerous consumer goods, including shoes, apparel and appliances.

    Twenty-four US retailers signed Kennedy’s letter, including Walmart, Target, Best Buy, Abercrombie & Fitch, American Eagle Outfitters, Columbia Sportswear, Costco, Dollar Tree, Gap, JC Penney, Kohl’s, Ikea, Levi Strauss, Sears, VF Corp and Wolverine World Wide.

    A second letter was signed by 82 shoe companies, including Nike, Payless ShoeSource, Under Armour and Shoe Carnival.

    “Adding even more tariffs on top of this heavy burden would mean higher costs for footwear consumers and fewer US jobs,” one of the letters said.

    “Given the price sensitivity of our products, any additional increases in our costs would strike right at the heart of our ability to keep product competitively priced for our consumers.”

    One of the issues worrying retailers and manufacturers is that Trump does not need approval from Congress to implement tariffs. He can impose unilateral tariffs on China citing national security grounds – the same rationale behind the steel tariffs – because a US government investigation had found Chinese had violated intellectual property rules.

    Trump has previously stated he does not fear a trade war because he believes America would win it.

    Widespread media debate about tariffs and the rationale behind them would also distract public attention from numerous controversies surrounding the Trump presidency, including a growing list of women revealing extramarital affairs with him, election tampering and his links to a company under investigation by the FTC for stealing personal details of 50 million Facebook users.

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  • Macy’s to shutter 5% of its stores in early 2016

    Macy’s to shutter 5% of its stores in early 2016

    Macy’s says it will close 35 to 40 stores in early 2016, or as much as 5 per cent of its namesake department stores.Macy’s said Tuesday it hasn’t selected all of the stores that will be closed yet. It expects the locations will have about $300 million in combined revenue. The company says employees who work at the closing stores may be offered positions at nearby locations, and workers who are laid off will be offered severance benefits.

    The Cincinnati-based company says it closes a few underperforming stores every year. The company runs 770 Macy’s stores and has closed 52 locations over the last five years while opening 12.

    Macy’s and other retailers are looking for new ways to boost their sales as middle-class customers try to keep their spending down, looking for deals and doing more of their shopping online. The company is preparing to open six lower-priced Macy’s Backstage stores later this year and intends to open more of them in 2016.

    Over the last few quarters Macy’s has been hurt by the strong U.S. dollar, which has cut into spending by tourists, as well as a labour dispute that slowed down ports on the West Coast. The company reported $28.11 billion in revenue in 2014, up less than 1 per cent from the year before.

    Macy’s is also getting ready to test selling goods online in China through a joint venture with a retailer based in Hong Kong.

    Macy’s Inc. also runs the Bloomingdale’s chain, and earlier this year it bought upscale beauty retailer Bluemercury. It has a total of 885 locations.

    On Tuesday the company said it will experiment with selling consumer electronics, as it will open Best Buy shops inside 10 of its stores in November. Those departments will be staffed by Best Buy employees.