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In a country where wheeling-n-dealing in the bartering of consumer electronics is commonplace, a retail giant from the U.S. has planted seeds for its foray into the world's fastest-growing economy (by some measures). That market is, of course, China.Best Buy Co.,Inc. (NYSE:BBY) opened its first store in China as of last week. The 80,000-square-foot facility, the company's largest store anywhere and its first outside North America, is in Shanghai's busy Xujiahui shopping district.
Will Best Buy be successful in this new market as it enters a country where bartering has been known to take heavy tolls on retailers and other entities not prepared for aggressive pricing strategies? Best Buy will be finding that out very soon most likely. Either the chain will flop miserably, or the Best Buy name will become part of the permanent Chinese retail landscape.
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