Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • 2021 Mingtiandi Event Calendar
    • Join the Mingtiandi Asia Value-Add Forum 2021
    • Join the Mingtiandi Multi-Family Investment Forum 2021
    • Join the Mingtiandi Logistics Real Estate Forum 2021
    • Join the Mingtiandi Sustainable Real Estate Forum 2021
    • Join the Mingtiandi Data Centre Forum 2021
    • Join the Mingtiandi Office Strategies Forum 2021
    • Join the Mingtiandi Proptech Forum in November
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

Best Buy Getting Schooled in China

2011/02/12 by Michael Cole 1 Comment

Two stories published this week about Best Buy’s operations in China paint disparate pictures of the company’s future in the market. best buy fails in chinaThe US electronics retail giant opened its first store in China in 2006, but apparently has fallen well short of its goals.

First, in a piece in Fortune magazine published yesterday. which appears inspired by a PR department’s efforts to put a bright face onto an upcoming repositioning, the company emphasises the need to go slow and learn from its local subsidiary, Five Star Appliance, which the company purchased a 75% stake in as part of its market entry strategy.

In another article published the same day, COMTEX reported that Best Buy is attempting to choose between pursuing a discounting strategy for its stores in China, or retreating from the market altogether.

This case of a major international retail brand struggling to build market share and profits in China could end up being a case study for the many foreign retailers currently crowding into the country’s malls and shopping centres.

In any case, Best Buy’s attempt to offer a more organised, international-style approach to electronics retailing seems to be wilting in the face of lower priced local competitors.

Related Stories

  • Invesco Raises $505M for First Closing of Asia Value-Add Real Estate FundInvesco Raises $505M for First Closing of Asia Value-Add Real Estate Fund
  • Wheelock Makes HK$4B in Biggest Housing Launch in 6 Years and More Asia Real Estate HeadlinesWheelock Makes HK$4B in Biggest Housing Launch in 6 Years and More Asia Real Estate Headlines
  • CIC Teams with AEW to Close on $1.44B European Mall PortfolioCIC Teams with AEW to Close on $1.44B European Mall Portfolio
  • Chinese Gamblers Boost Manila Property Market and More Asia Real Estate HeadlinesChinese Gamblers Boost Manila Property Market and More Asia Real Estate Headlines

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: Retail Real Estate

MTD Proptech Report Download

Trackbacks

  1. Best Buy Stores Closing Down in China | Mingtiandi says:
    2011/02/22 at 10:33 pm

    […] effective February 22nd.Hip Hip Hooray for Severance Pay!As reported here earlier this month, the US retail electronics giant has been struggling to compete in the Chinese […]

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Altus Cashflow Ebook

Get Mingtiandi Delivered

Sustainability Forum

MTD TV

Warburg Pincus, Princeton Digital Foretell Asia’s Data Centre Future

MTD TV proptech show

COVID-19 Accelerates Proptech Adoption in Asia: Watch on MTD TV

More MTD TV Videos

Latest Stories

quayside hong kong

IWG Opens in the Quayside in Third Takeover of Hong Kong WeWork Location

JLL Alex Barnes

Hong Kong Office Vacancy Hits 9.3% as Deutsche Bank, AIA Surrender Space

Li Ka-shing is feeling good about SPAC

Li Ka-Shing Plans US SPAC and More Asia Real Estate Headlines

Sponsored Features

Tony Horrell

Colliers’ Global Investor Sentiment Report Anticipates Up to 50% Surge in Investment in 2021 Sponsored Feature

Andrew-Slevin-John-Foord (4)

Insurtech to Help Address Underinsurance Across Asian Real Estate Assets in 2021 Sponsored Feature

CK Lau

Asia Pacific Logistics Sector: Increasingly Varied Sector Requires Multiple Approaches Sponsored Feature

More Sponsored Features>>

MTD-QR-Code-320

Top Stories

Hines Ramps Up APAC Presence With New Hires in Japan, South KoreaHines Ramps Up APAC Presence With New Hires in Japan, South Korea

Skip Schwartz to Head Back to US as Heitman Preps New APAC LeadershipSkip Schwartz to Head Back to US as Heitman Preps New APAC Leadership

Link REIT Buying Half-Stake in Vanke Shanghai Mall for $429MLink REIT Buying Half-Stake in Vanke Shanghai Mall for $429M


Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • Events
    • 2021 Mingtiandi Event Calendar
    • Join the Mingtiandi Asia Value-Add Forum 2021
    • Join the Mingtiandi Multi-Family Investment Forum 2021
    • Join the Mingtiandi Logistics Real Estate Forum 2021
    • Join the Mingtiandi Sustainable Real Estate Forum 2021
    • Join the Mingtiandi Data Centre Forum 2021
    • Join the Mingtiandi Office Strategies Forum 2021
    • Join the Mingtiandi Proptech Forum in November
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Newsletter Subscription
  • Terms of Use
  • Privacy
  • Advertise
  • Join the Mingtiandi Team