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Best Buy, Inc. (NYSE: BBY) has become the largest consumer electronics chain in the U.S. be using a combination of discount pricing across the board and a store count presence that has whipped much of the competition. As always, growth by store opening can only last so long. But Best Buy has a trick up its sleeve for even more growth. Mostly, its plans lay in urban growth instead of suburban growth.

To accomplish this, the retailer is partnering with legendary professional basketball player Magic Earvin Johnson. Although part of its urban growth strategy will continue to involve specialty product retailing, the addition of a legend to its marketing arsenal is nothing short of a great idea. Just recently, Best Buy brought Johnson to Bloomington, Minnesota to talk at a sponsored kids' basketball tournament. Johnson's business involvement with many large national franchises like Starbucks and Burger King makes it easier for the retailer to center in on some of those locations Johnson's company owns as well.

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Best Buy and Magic Johnson: a recipe for urban, retail, big-box success? originally appeared on BloggingStocks on Thu, 16 Jul 2009 15:00:00 EST. Please see our terms for use of feeds.

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Best Buy, Inc. (NYSE: BBY) has been hurting like most retailers in the face of the U.S. and global economic crisis, but the only silver lining that it may have seen recently has been the collapse and liquidation of its largest competitor, Circuit City. Best Buy will now have one less competitor in the marketplace, but is also seeing increased focus by the large mass merchants on the consumer electronics side of merchandising.

Facing that, the largest consumer electronics retailer in the U.S. will need to be more creative in attracting the right customer at the right time and converting as many shoppers to buyers as possible. As a result, Best Buy has joined up with consumer behavior marketer Omniture to help it understand the metrics that convert as many consumers in the consumer electronics market to Best Buy purchasers.

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Best Buy uses Omniture to model consumer spending behavior originally appeared on BloggingStocks on Wed, 11 Feb 2009 14:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BBYBest BuyBest Buy locationsBest Buy purchasesBestBuyBestBuyLocationsBestBuyPurchasesInc.OmnitureWed, 11 Feb 2009 14:40:00 EST