Growing electronics sales at Best Buy Mobile stores is being driven by demand for smartphone and tablets.
FORBES: Best Buy Gets Out Of The Big Box With More Mobile Stores
Best Buy has greatly expanded the mobile phone side of their business and has opened up new stand alone Best Buy Mobile shops.
This indicates that Best Buy is looking to offset falling comparable store sales by expanding the footprint of its popular Best Buy Mobile stores.
FORBES: Best Buy Gets Out Of The Big Box With More Mobile Stores
By early May, 900 Best Buy and Best Buy Mobile specialty stores will feature the Samsung Experience Shop, with the remainder launching by early summer.
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The company will open more small Best Buy Mobile stores, where it uses a device-savvy sales force to sell smart phones and other mobile devices.
Best Buy Mobile stores, which specialize in cellphones and other devices that connect to wireless networks, will continue to maintain an average of 90 to 100 phone models per store, for instance.
Revenue per square foot at Best Buy Mobile stores has been on a growth track for the past few years and the addition of new devices and accessories could carry this trend forward.
FORBES: Best Buy Gets Out Of The Big Box With More Mobile Stores
Best Buy conducts online retail operations under a variety of brand names such as Best Buy, Best Buy Mobile, The Carphone Warehouse, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, PacificSales and The Phone House.
Since being tasked by Chief Executive Hubert Joly with turning around the big-box stores in November, Mr. Score has been applying lessons he learned running Best Buy's small Best Buy Mobile outlets to the company's flagship stores.
This was primarily due to a loss of revenues from 49 big box stores closed down in 2012, partially offset by a 0.9% increase in comparable store sales and additional revenues from 126 new Best Buy Mobile stand-alone stores.
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Executives said Best Buy is well positioned to benefit from the changes in electronics, noting that the company offers the largest e-reader assortment in the industry and is heavily focused on its Best Buy Mobile business, which offers smartphones from multiple carriers under one roof, similar to the way such phones are marketed in Europe.
U.S. revenue in stores open at least 14 months rose 0.9 percent, helped by performance from Best Buy's standalone mobile stores.
The shelves at T-Mobile, Best Buy, etc. were lined with row after row of cheap Android devices.
Best Buy entered into a partnership with the mobile phone retailer in 2010 with plans to open 200 stores and expand the concept under the Best Buy banner in the U.S. with standalone stores.
Moving directly against scan-and-scram, Best Buy began a relationship with Red Laser, the company behind the mobile app that best enables showrooming: the app now lets Best Buy offer coupons and one-click ordering on Bestbuy.com to customers already in the store.
In an earlier article, we noted how Best Buy reported improving gross margins in the Q2 mostly driven by significant growth in its mobile business, which posted the highest comparable store sales among all of Best Buy?s product categories.
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To reverse this, Best Buy vows greater attention on tying Web and mobile shopping with the in-store experience.
Best Buy has been broadening its products and services with more mobile phone offerings, web services as well as new Logitech and Sony devices associated with Google TV.
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Best Buy said domestic segment areas of comparable store sales growth included mobile computing (including tablets), appliances, eReaders, mobile phones, and movies.
Best Buy combined good creative with broad exposure to the right target audience for its mobile store.
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In Q1, Best Buy said in a statement, areas of domestic comp store sales growth included mobile phones, tablets, eReaders, appliances and services.
Best Buy is even taking it overseas to Britain, in a partnership with the Carphone Warehouse, a mobile-phone retailer.
Best Buy said the TV softness was partially offset by a low double-digit comp stores increase in mobile phones, and a mid-single digit increase in mobile computing, as tablet computer sales were strong.
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Several retailers including Wal-Mart, Target and Best Buy recently came together to form Merchant Customer Exchange, a company that is focused on developing a mobile commerce application which will help users pay for goods at the retailers with their smartphones.
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