The US electronics retail giant Best Buy, which is opening its sixth store in the UK on Friday, has today announced it will be opening itâ€™s online store from tomorrow morning
Making the announcement on its Facebook site, Best Buy will look to make an impact here in the UK and will rival large UK-based online retailers such as Dixons. Best Buy is highly regarded in the US and its attempt to spread out into European markets has only been hampered by the economic downturn in recent years. Best Buy also operates in Mexico, Canada, China, Turkey.
Best Buy made its first foray into the UK marketplace with its Â£1.1bn Carphone Warehouse (CW) deal in May 2008 taking 50 per cent of the high street phone chain â€“ comprising all the 2,400 stores, the web and direct businesses, the insurance operations and its airtime reselling businesses. CW's broadband business (TalkTalk, AOL Broadband and Opal) was not involved.
The key part of the deal is that it was seen as a way for Best Buy to learn the UK market and attain a foothold. Best Buy opened its first store in March this year and has since opened four more with another one opening in Derby on Friday.
Best Buy's reputation for great customer service and its price guarantee are the reasons it is so highly regarded in the US â€“ where it holds a 20 per cent share of the market.