Retail in Asia

In Trends

Best Buy plans China growth

Best Buy, the electronics retailer, is ramping up its focus on China, both by opening more stores from its Five Star chain and through leveraging effective strategies proven elsewhere.

The firm has announced plans to cut USD800 million in costs, including closing 50 big box branches in the US. By contrast, China was placed among its four key future priorities, alongside ecommerce, mobile and "connectivity" and offering customer services.

At present, the company is represented in China via approximately 180 stores under the Five Star banner. Best Buy purchased the organisation in 2006, but shut down its nine own-branded outlets last year.