Best Buy Canada is shutting down installation bays at nearly every location as it exits the car stereo category, CEoutlook has learned.
Its 77 stores were informed of the decision Thursday and install bays were shut down the same day, confirmed a half dozen Best Buy Canada locations.
A corporate spokesman did not return our inquiries last night.
The stores said they will continue to sell products for a few weeks until inventory is depleted. The chain will also maintain an online presence in the category.
Best Buy sister company Future Shop, with 149 stores, remains in the car audio market. Best Buy customers with existing installation appointments are being sent to Future Shop.
Industry members said that of the two Canadian chains, Future Shop has a stronger following in car audio and is considered more of a destination for the category.
One Best Buy Canada store said a few Best Buy locations, which were particularly strong in car audio, may continue to carry car audio, but we could not confirm this.
Some of the locations said that installers were offered jobs elsewhere in the company or given severance packages.
Source: CEoutlook
Get the news before your competitors do. CEoutlook is the daily brief read by over 6,500 dealers, reps and manufacturers across the mobile electronics industry. Subscribe free.
Just the bay’s are going to close. Product remains in store.
I have a feeling Amazon.com has something to do with all of this.
Now that Amazon is opening a giant distribution center in New Jersey. I could be wrong but my gut says Amazon is already the next best buy on the web?
Finally.. best buy figured out that they can’t compete with the specialty retailers. Best buy in the US need to realize that and close up the shop.
and so the race to zero claims another victim!!!
great. more installers to rehabilitate for all of us.
The Us Market might be next!
Why not they discounted the profits out of it. time to pack up the tent and move on.