Best Buy in China
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Case Details:
Case Code : BSTR299
Case Length : 20 Pages
Period : 2003-2008
Pub Date : 2009
Teaching Note :Not Available Organization : Best Buy Co. Inc. Industry : Electronics / Consumer appliances
Retail
Countries : China
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"We're trying to understand China in our own way, and
offer an entirely different experience."1
- John Noble, Senior Vice President, CFO, Best Buy International, in 2007.
"[...] a visit to the four-story Best Buy store shows that
the Fortune 500 company has brought more than just a new retail outlet to the
market. The Best Buy store is revolutionary in the shopping experience it
offers."2
- The China Daily3, in 2007.
"Best Buy has little advantage in China over GOME and
Suning, who know local consumers better. Best Buy is expanding at a slower pace
than major Chinese rivals."4
- Xiang Tao, Analyst, TX Investment Consulting Co5., in
2008.
Introduction
In September 2008, US-based electronics retailer Best Buy Co.
Inc. (Best Buy) reported revenue of US$ 9,801 million and net earnings of US$
202 million for the quarter ending August 30 that year.
The net earnings had declined by 19% compared to the second quarter of the
previous year and the company attributed the decline to increased spending on
enhancing its stores in the US and to international expansion. Internationally,
the company's revenues for the quarter were at US$ 1.7 billion, a growth of 10%
compared to the previous year. But the revenues in China had gone down.
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Best Buy in China
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