| Galaki said: Title implied something massive. Like 80-90% massive. |
Massive doesn't necessarily mean price, massive as in the amount of stuff on sale and apocalyptic because it is the end of Best Buy in Europe. From what I've heard Best Buy in the UK was already one of the cheaper retailers these sales should be pretty dang good. Also this sale isn't going to stay at 30% off long, my bet is within a week or so it will get way better. I'll try to update the thread as the deals get more and more tantalizing. But yes this is a massive sale even by your 80% standards because this sale isn't going to end till Best Buy is dead, this is going to be an ongoing sale, like Boxing Week or such a sale that will keep going till the shelves are clear.
| The Fury said: Best Buy in Nottingham opened earlier this year. Best Buy have decided to close their aim to claim the European Market after not even a year I don't think. It has cost the company millions only for them to bail early. At least stick with it for a few years. |
The losses Best Buy suffered are great with over 200 million Euro's lost so far. Also Best Buy wasn't the only company running Best Buy Europe it was a joint venture with partly owned Carphone Warehouse say CW got cold feet Best Buy pulls out. Not to mention they were both overly ambitious and underly. They hoped to open 200 outlets by 2013 across Europe this was very ambitious, they also claimed they would make a larger profit per square foot then Britain's bigger electronic retailers something their share holders expected. Then their locations were out of town locations and they were largely out gunned by their competitors who have 200+ stores in the UK alone and they had 11.
It would have been smart to stay in the UK and continue pushing into Europe if they had the resources from America to spend on it. But lets face it Best Buy doesn't have the financial resources to take up to 200 million euro hit each year and thats with only 11 stores can you imagine if they expanded to 200 and all those stores took the hits their 11 are.
In the end expanding in Europe would be suicide if the company could not turn a profit on those 11 stores. Also there is no way they could have taken on the bigger competitors in Europe with only 200 stores they would have been eaten alive. They likely should have concentrated on just the UK, they should have also done a better job advertising and getting their locations nearer to the public.
Many UK citizens didn't even realize Best Buy was in the country. As users say their outlets are a hike out of town another disadvantage. Their marketing was a third flaw. If they stayed they would need to have drastically changed their entire operation. They would have to have turned a profit before considering much further expansion and it would have cost them a fortune maybe even more then the 200 million Euro loss they are taking now.
-JC7
"In God We Trust - In Games We Play " - Joel Reimer
