2 HistoryRichard Schulze and business partner open the Sound of Music store in St. Paul, Minnesota.1983 – New Name: Best Buy Co., Inc. (Appliances and VCRs)1986 – CDs and Expanded Line of Photo- Equip.1988 – Begin Selling PCs1989 – 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.
3 1994 - The Best Buy Children’s Foundation Best Buy becomes the first national retailer to sell DVD hardware and software.1998 – Sells its 1-millionth DVD and Offer HDTVBest Buy acquires Magnolia Hi-Fi (renamed Magnolia Audio Video in 2003), a retailer of high-end consumer electronicsThe acquisition of Canada-based Future Shop Ltd. marks Best Buy’s entrance to the international marketplace.Best Buy opens first Canadian Best Buy store in Toronto, Canada.
4 An Innovative and Growing Company Named a Fortune Blue Ribbon CompanyFortune 500Global 500Most AdmiredGlobal Most AdmiredForbes Most CharitableNo. 1 in Stores Top 100 Specialty RetailersBest Buy stores reach an estimated 300 million consumers per year in 48 states and online
5 Mission StatementTo 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 Customers seeking top-of-line products and reliable serviceCustomers with demanding schedules
7 Locations 733 US Stores 3 Separate Specialty Stores In Oregon, 6 StoresThe Closest: Springfield, Salem and Beaverton.3 Separate Specialty StoresFuture Shop – Canada (119)Magnolia – Video and Audio (20)Geek Squad – Stand Alone (13)US (4) Canada
9 Competitors Intratype: Circuit City, Fry’s Electronic, Radio Shack, CompUSA, Video Only (Beaverton)Intertype:Wal-Mart, Fred Meyer, Sears, Target and Big K
10 Layout/Atmosphere Warehouse Atmosphere Loop Layout 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.Left side of StoreDVDs, CDs, Home and appliancesRefrigerators, Washer and Dryer, Microwaves.
12 Helping out the Community Scholarships – To Graduating H.S. Seniors.– Awards schools with products and services.Red Cross Donations – Provide Support in times of disaster.United Way DonationsNon-Profit DonationsRecyclingEach year, Best Buy donates 1.5 percent of pretax earnings to its giving programs.In fiscal 2005, Best Buy and the Best Buy Children’s Foundation donated $19 million.
13 What’s the Next Step New Expansion Eliminate Mail-in Rebates 8 US Stores opened Feb. 24, 2006East CoastEliminate Mail-in RebatesIn January, Best Buy kicked off a Two-Year Plan, Allowing Customers to receive Instant Saving.Online RebatesImproves Overall Shopping Experience.
14 Services The “Geek Squad” Business Solution Center Technicians that are experienced with every electronic product.Service Plans2 year Product Replacement PlanBusiness Solution CenterBusiness DivisionRebates and WarrantiesMail-in, New Online Rebates and Instant rebates.
15 Store Experience My Best Buy Experience Others Best Buy Experience Always GreatWhat’s NewNew Electronic Toy or Stuff on sale.Others Best Buy ExperienceReturns and Service PlansRebates and Repairs