Presentation is loading. Please wait.

Presentation is loading. Please wait.

History 1966 - Richard Schulze and business partner open the Sound of Music store in St. Paul, Minnesota. 1966 - Richard Schulze and business partner.

Similar presentations


Presentation on theme: "History 1966 - Richard Schulze and business partner open the Sound of Music store in St. Paul, Minnesota. 1966 - Richard Schulze and business partner."— Presentation transcript:

1

2 History Richard Schulze and business partner open the Sound of Music store in St. Paul, Minnesota Richard Schulze and business partner open the Sound of Music store in St. Paul, Minnesota – New Name: Best Buy Co., Inc. (Appliances and VCRs) 1983 – New Name: Best Buy Co., Inc. (Appliances and VCRs) 1986 – CDs and Expanded Line of Photo- Equip – CDs and Expanded Line of Photo- Equip – Begin Selling PCs 1988 – Begin Selling PCs 1989 – New Logo, Yellow Tag 1989 – New Logo, Yellow Tag Richard Schulze is named Retailer of the Year for the third consecutive year by Consumer Electronics and Audio- Video International magazines Richard Schulze is named Retailer of the Year for the third consecutive year by Consumer Electronics and Audio- Video International magazines.

3 The Best Buy Childrens Foundation The Best Buy Childrens Foundation Best Buy becomes the first national retailer to sell DVD hardware and software Best Buy becomes the first national retailer to sell DVD hardware and software – Sells its 1-millionth DVD and Offer HDTV 1998 – Sells its 1-millionth DVD and Offer HDTV Best Buy acquires Magnolia Hi-Fi (renamed Magnolia Audio Video in 2003), a retailer of high-end consumer electronics Best Buy acquires Magnolia Hi-Fi (renamed Magnolia Audio Video in 2003), a retailer of high-end consumer electronics The acquisition of Canada-based Future Shop Ltd. marks Best Buys entrance to the international marketplace The acquisition of Canada-based Future Shop Ltd. marks Best Buys entrance to the international marketplace Best Buy opens first Canadian Best Buy store in Toronto, Canada Best Buy opens first Canadian Best Buy store in Toronto, Canada.

4 An Innovative and Growing Company Named a Fortune Blue Ribbon Company Named a Fortune Blue Ribbon Company Fortune 500 Fortune 500 Global 500 Global 500 Most Admired Most Admired Global Most Admired Global Most Admired Forbes Most Charitable Forbes Most Charitable No. 1 in Stores Top 100 Specialty Retailers No. 1 in Stores Top 100 Specialty Retailers Best Buy stores reach an estimated 300 million consumers per year in 48 states and online Best Buy stores reach an estimated 300 million consumers per year in 48 states and online

5 Mission Statement To give our customers great experiences – whether they are shopping for consumer electronics, home office products, entertainment software and appliances, or using those products and related services in their homes and offices.

6 Target Market Small business owners Small business owners Customers seeking top-of-line products and reliable service Customers seeking top-of-line products and reliable service Customers with demanding schedules Customers with demanding schedules

7 Locations 733 US Stores 733 US Stores In Oregon, 6 Stores In Oregon, 6 Stores The Closest: Springfield, Salem and Beaverton. The Closest: Springfield, Salem and Beaverton. 3 Separate Specialty Stores 3 Separate Specialty Stores Future Shop – Canada (119) Future Shop – Canada (119) Magnolia – Video and Audio (20) Magnolia – Video and Audio (20) Geek Squad – Stand Alone (13)US (4) Canada Geek Squad – Stand Alone (13)US (4) Canada

8 # of Stores

9 Competitors Intratype: Intratype: Circuit City, Frys Electronic, Radio Shack, CompUSA, Video Only (Beaverton) Circuit City, Frys Electronic, Radio Shack, CompUSA, Video Only (Beaverton) Intertype: Intertype: Wal-Mart, Fred Meyer, Sears, Target and Big K Wal-Mart, Fred Meyer, Sears, Target and Big K

10 Layout/Atmosphere Warehouse Atmosphere Warehouse Atmosphere Loop Layout Loop Layout As you walk in, you are guided to the right. As you walk in, you are guided to the right. Cell Phones, Mp3 Players, Computers, Computer accessories, Laptops, Printers, Software, Video Games, Plasma TVs, DVD Players and TIVO. Cell Phones, Mp3 Players, Computers, Computer accessories, Laptops, Printers, Software, Video Games, Plasma TVs, DVD Players and TIVO. Left side of Store Left side of Store DVDs, CDs, Home and appliances DVDs, CDs, Home and appliances Refrigerators, Washer and Dryer, Microwaves. Refrigerators, Washer and Dryer, Microwaves.

11 Merchandise Mix

12 Helping out the Community Scholarships – To Graduating H.S. Seniors. Scholarships – To Graduating H.S. Seniors. – Awards schools with products and services. – Awards schools with products and services. Red Cross Donations – Provide Support in times of disaster. Red Cross Donations – Provide Support in times of disaster. United Way Donations United Way Donations Non-Profit Donations Non-Profit Donations Recycling Recycling Each year, Best Buy donates 1.5 percent of pretax earnings to its giving programs. Each year, Best Buy donates 1.5 percent of pretax earnings to its giving programs. In fiscal 2005, Best Buy and the Best Buy Childrens Foundation donated $19 million. In fiscal 2005, Best Buy and the Best Buy Childrens Foundation donated $19 million.

13 Whats the Next Step New Expansion New Expansion 8 US Stores opened Feb. 24, US Stores opened Feb. 24, 2006 East Coast East Coast Eliminate Mail-in Rebates Eliminate Mail-in Rebates In January, Best Buy kicked off a Two-Year Plan, Allowing Customers to receive Instant Saving. In January, Best Buy kicked off a Two-Year Plan, Allowing Customers to receive Instant Saving. Online Rebates Online Rebates Improves Overall Shopping Experience. Improves Overall Shopping Experience.

14 Services The Geek Squad The Geek Squad Technicians that are experienced with every electronic product. Technicians that are experienced with every electronic product. Service Plans Service Plans 2 year Product Replacement Plan 2 year Product Replacement Plan Business Solution Center Business Solution Center Business Division Business Division Business Division Business Division Rebates and Warranties Rebates and Warranties Mail-in, New Online Rebates and Instant rebates. Mail-in, New Online Rebates and Instant rebates.

15 Store Experience My Best Buy Experience My Best Buy Experience Always Great Always Great Whats New Whats New New Electronic Toy or Stuff on sale. New Electronic Toy or Stuff on sale. Others Best Buy Experience Others Best Buy Experience Returns and Service Plans Returns and Service Plans Rebates and Repairs Rebates and Repairs

16 Sources


Download ppt "History 1966 - Richard Schulze and business partner open the Sound of Music store in St. Paul, Minnesota. 1966 - Richard Schulze and business partner."

Similar presentations


Ads by Google