Bloomberg reports that Best Buy Co. is cutting the amount of inventory in its stores to meet an expected decline in the number of shoppers buying electronics during the holiday season amid a U.S. economic recession, the New York Times reported.
Best Buy’s President Brian Dunn said the depth and speed of the U.S. economic downturn was unprecedented in his 23 years in the retail business, the newspaper said, citing an interview. The company is curtailing costs by airing fewer television commercials and plugging lower prices via e-mail, the newspaper said.
The electronics retailer is also offering shoppers zero interest for 18 months if they buy $499 worth of merchandise on a store credit card, the newspaper said.
The company is pushing sales of its more lucrative private- label brands and exclusive products such as notebook computers under its Blue Label line, the Times said.
Source: Bloomberg's reporter Dan Hart.
No comments:
Post a Comment