When you think of big-box electronics stores, you probably think of Best Buy. But do you really know the store as well as you think you do?
Here are five facts that may surprise you or make you laugh!
1. Best Buy is the #1 seller of electronics in the nation
The store even sells more electronics than Amazon! Earlier this year, Amazon leapfrogged Walmart—the nation’s largest retailer—to become the No. 2 seller of electronics. Best Buy did $30.9 billion in business last year, while Amazon did $23.1 billion in electronics sales. That’s according to TWICE Magazine’s annual Top 100 Consumer Electronics Retailers report.
Close, Amazon, but no cigar!
2. Best Buy thinks Black Friday is in August
Well, not really…But Best Buy did celebrate the 50th anniversary of its first store (August 22, 1966) with a Black Friday-ish sale last month.
Among the deals being offered were up to $300 off select MacBook Pro computers, $400 off a 65-inch Samsung 4K UHD TV, $180 off Beats Studio wireless on-ear headphones and much more.
3. Best Buy is rethinking gift cards
Thinking about giving a Best Buy gift card to someone this holiday season?
First off, don’t pay full price for it! Websites like CardPool.com and GiftCardGranny.com connect gift card sellers with gift card buyers like you. It’s routinely possible to pick up Best Buy gifts cards for a discount of at least 5% off their face value! And the cards are guaranteed to work for anywhere from 90 to 180 days after purchase.
Second, if you’re a fan of the green movement, Best Buy recently introduced gift cards that are made of paper instead of PVC, which typically can’t be recycled.
4. Students can save money at Best Buy
Got a valid .edu email address? Then you can take advantage of Best Buy’s Student Deals program. You’ll find special deals on that page, plus you’ll receive emails with coupon codes for additional discounts for online and in-store use.
5. Best Buy could share their consumer data secrets…but then they’d have to kill you
Just kidding! What is true is that Best Buy hired a former CIA intelligence officer to run their consumer insights department.
Bill Hoffman was named Senior VP of Consumer Insights in 2010. He left the company after a little more than three years to co-found a consumer & employee insights consultancy.
His LinkedIn page says he was a CIA man for nearly eight years from August 1991 – December 1998. Hoffman currently works as Chief Analytics Officer for U.S. Bank.