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Best Buy to Increase Focus on Private-Label Brands
To compete with Wal-Mart and Amazon, the big-box retailer looks to private lines.
Best Buy is expanding its line of private-label electronics in order to gain an edge over the competition, according to the Wall Street Journal.
The WSJ says that Best Buy's private-label brands jumped 40 percent over the past fiscal year, despite lower overall sales and profits.
No new lines have been announced, but Best Buy admits to not stocking other "value" products that would compete with their in-house brands, including Vizio.
The increase in focus on the retailer's own brands could separate themselves from the competition, including Wal-Mart and Amazon.com.
When Circuit City went bankrupt, Wal-Mart became Best Buy's number one competitor, with Best Buy playing the specialty role.
The retailer's current house brands include:
The WSJ says that Best Buy's private-label brands jumped 40 percent over the past fiscal year, despite lower overall sales and profits.
No new lines have been announced, but Best Buy admits to not stocking other "value" products that would compete with their in-house brands, including Vizio.
The increase in focus on the retailer's own brands could separate themselves from the competition, including Wal-Mart and Amazon.com.
When Circuit City went bankrupt, Wal-Mart became Best Buy's number one competitor, with Best Buy playing the specialty role.
The retailer's current house brands include:
- Insignia and Dynex televisions
- Rocketfish video cables
- Geek Squad flash drives
- Init electronics cases and accessories
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