The world's largest electronics retail chain, but in China, its reputation is far from Wal-Mart, Carrefour and loud. Best Buy has delineated Shanghai up shop in China for its first leg, Best Buy to its Asia Pacific headquarters in Shanghai.
More conservative overseas market expansion
According to "China Net" report, although the operating results of Best Buy called the world, but many retailers, like the United States, its main market is still in the distant North America. In the overseas market expansion, and its conservative and prudent manner. Even in 2003 when it entered the Canadian market.
In the consolidation of the North American market, Best Buy will be turning to Asia, the Asian focus on China, China's first leg of the election in Shanghai. "To China is the only way back is just way to late to the problem." Best Buy Group Vice President, Asia Pacific headquarters, said President Wei-Ming Lu.
Best Buy already purchase home appliances in China
Shanghai Fu Xun, a people business analysis consulting firm, said: "Although the home appliance retail sector in China's policies and other types of retailing the same, but did not like Best Buy and Wal-Mart, Carrefour, as long Take the joint ventures to enter the Chinese market.
Because in the North American market, Best Buy products and services can still continue to create new profit point. The Best Buy has increased purchases in China to lower cost of acquisition of the Chinese electrical products in the international market will have a greater margin, because the consumption power of China have very different than the international level, shop sales in China bound directly affect their profitability. Best Buy in the past and therefore the strategy for the procurement value of electrical products in China is greater than the value of sales in China shop, perhaps Best Buy does not like other retail formats into the Chinese market ahead of one of the reasons. "
Best Buy will not give up M & A opportunities
"Best Buy is currently still in product mix, process design and location within the work shop is a complex process. Meanwhile, Best Buy also and some domestic home appliance chain contact, if appropriate conditions, it will not let M & A opportunities. "industry sources have told a reporter.
At Best Buy before, and no foreign home appliance chain enterprises choose to enter the Chinese market, which gives local home appliance retailers in China a good period of self-development, formed a
States United States
, Suning and other leading successful companies.
"As consumer durables, home appliances retail site selection, procurement, supplier strategy, product structure design, product display and store operations are all related to Carrefour, Wal-Mart and other supermarkets Yetai are very different. By China shop, to better know the Chinese market, would also facilitate the future of global sourcing in China.
Appliance retail in China is still dominated by the local enterprises, Gome, Suning, Five Star, Wing-lok, triple, etc. have occupied a lot of good shop resources, Best Buy is also possible by way of the acquisition quickly open market. "Fu Xun consultation source said.
Li Juntao, general manager of Gome's purchasing center
said: "At present, local Chinese home appliance chain enterprises have gained ground, appliance manufacturing industry is also concentrated in China, they have a good local chain strategic partnership with cultural factors, within a year or two, foreign multinationals and domestic home appliance chain enterprises to compete in the structure is impossible. "
¦ protagonist: Best Buy
Best Buy was founded in 1966, Minnesota, USA, owns the U.S. Best Buy retail and Canada "future shop", top brand-name electronics specialty stores, Best Buy, Magnolia, and music and entertainment brand hotline Entertainment. As of March 2004, it already has in North America, more than 750 stores and an annual growth rate of 70-80 at home; 2004 revenue of 24.5 billion U.S. dollars, the market share of 16%.
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