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BEST BUY: 85 music centres to open by year’s end
Rob Hughes Aug 4 2008, 4:38pm
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Plans set to make retailer the second largest for MI in the US
US-based MMR magazine has reported that Best Buy will open up to 85 of its music centers by the end of the year, and may add more locations in the future. This move will make Best Buy the second largest MI retailer in number of units in the country, after Guitar Center.
"We're not just extending the shelf space in the store, we're creating a designated area specifically for this experience," Kevin Balon, the company's vice president of musical instruments, told the Associated Press. "And we're trying to create an authentic and genuine musical instrument store look and feel inside of Best Buy."
Last week, MI Pro reported that a recent deal with Carphone Warehouse is expected to see Best Buy enter the UK market within the next six months. The first four British stores will be located at Bath Road retail park, Slough, Two Rivers retail park, Staines, Thurrock retail park, Essex and Enfield retail park.
Many observers, both inside and outside the industry are sceptical however, and according to retail analyst Brady Lemos of Morningstar, an investment fund research firm, this endeavor will take up a lot of real estate (2,500 square feet per store) and is generally a slow growth segment even during good economic times, making it a challenging proposition.
Companies working with Best Buy include Fender, Gibson, Line 6, Yamaha, Roland, Korg, and Drum Workshop, among others.
The selection will include everything but acoustic pianos and shoppers will find picks, sheet music, cases, up to $3,200 guitars and $5,000 drum kits.
mmrmagazine.com
Comments
“best buy”
Posted by: neil - Aug 5, 1:46pm
84 shops close before christmas?
Can the UK market cope with 85 more music shops? Cant see it myself as well as finding good shops to go in its getting the staff , Lets wait and see.