Best Buy is making cutbacks to car audio as part of a general directive to reduce SKUs throughout the store, said several industry members.
During COVID, the chain added many vendors and products in order to maintain adequate stocks when faced with supply shortages. Now the chain wants to cut back, although it’s not clear how deep these cuts will be.
At least one major vendor said it was approached with cuts and is currently negotiating with Best Buy. Still other vendors were told by their manufacturer representatives to expect cutbacks.
Best Buy did not answer our request for confirmation.
Additionally, Best Buy is expected to begin sharing its car audio installation bays with ebikes and scooters, said two industry members. In May, Best Buy announced it would launch a pilot program to test servicing and repairing ebikes at some stores.
Best Buy will announce its latest earnings on Tuesday, August 30.