250 stores will close down May 31st.
It’s the end of the road for Best Buy Mobile. Best Buy Mobile are the small format stores, typically located in shopping malls, which sell only cell phones and mobile devices. The company started opening these smaller stores 10 years ago, and now all 250 locations in the US will close on May 31st.
Best Buy is not getting out of the mobile phone business. It will remain an integral part of their regular retail establishments, and online sales. In a report from Reuters, the small Mobile stores only account for 1% of the retailer’s total sales. Closing these stores is all part of a method of increasing operational efficiency. Additionally 52 Mobile stores in Canada will not be affected.
Best Buy will work to place affected employees in other parts of the company, and offer severances to those that leave, as well as offer assistance for external job searches.
It’s never a good thing to see stores close down, but this hits a little close to home. As the business was specific to mobile technology, the decision to end these stores is fairly indicative of the current state of affairs with mobile. While mobile tech is something we all love, it seems no one is really making money off of it anymore. While many now choose to purchase their mobile tech via online sales, I’m not looking forward to a day when I can’t walk into a store and play with the new devices.