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BEST BUY SHANGHAI Best Buy has big plans for China

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Best Buy opens its first store in Shanghai, China ... Best Buy to open 1-2 more stores in China within next year or so. BACKGROUND ... – PowerPoint PPT presentation

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Title: BEST BUY SHANGHAI Best Buy has big plans for China


1
BEST BUY SHANGHAIBest Buy has big plans for
China
  • Presented by
  • Michael Accardo
  • Susanna Choisser

2
SUMMARY
  • Best Buy opens its first store in Shanghai, China
  • Based on first months sales, Shanghais Best Buy
    predicted to be among Best Buys top ten stores
    by the end of year
  • Best Buy to open 1-2 more stores in China within
    next year or so

3
(No Transcript)
4
BACKGROUND
  • May 2006 Best Buy buys majority stake in
    Jiangsu Five Star Appliance, China's
    fourth-largest electronics retailer
  • 180 million
  • entering the world's fastest-growing major market
  • capturing major part of 100 billion consumer
    electronics market in China
  • already 1 consumer electronics retailer in the
    U.S.

5
(No Transcript)
6
DETAILS
  • Best Buy opened the 4-floor, 80,000-sq. ft.
    Shanghai store Jan. 2007, in Xujiahui, a major
    shopping district
  • Made store accommodations geared toward Chinese
    culture
  • Adjusted Best Buy Model while maintaining the
    core fundamentals

7
(No Transcript)
8
INTERNATIONAL IMPLICATIONS
  • Economists predict that China will overtake the
    United States as the world's largest economy this
    century.
  • Wal-Mart, Toys "R" Us, Home Depot, Tiffany Co.,
    McDonald's, 7-Eleven Starbucks and KFC already in
    China

9
INTERNATIONAL IMPLICATIONS
  • Mitch Kaiser, an analyst with Piper Jaffray Cos.
    in Minneapolis, says
  • Best Buy is the best in consumer electronics
    retailingIt certainly makes sense for them to go
    after that market."
  • Again Based on first months sales, Shanghais
    Best Buy predicted to be among Best Buys top ten
    stores by the end of year

10
BACK HOME
  • Executive director at headquarters in Minnesota
    feels this will also translate more jobs here
    (headquarters)
  • Mollie Young, a brand specialist and president of
    Minneapolis-based Nametag International, said her
    clients see big potential in China and other
    Asian countries. "They're looking at Asia with
    such a high level of enthusiasm and saying, 'How
    do I get there?' and 'How fast do I get there?' "
    she said. "It's where it's at."

11
BEST BUY SHANGHAI
  • Why not?
  • http//www.supplychain.cn/en/art/?1465
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