Hundreds queue for U.S-style discounts as first Best Buy electrical megastore opens in Britain

 

 

By Sean Poulter

Last updated at 1:30 AM on 1st May 2010

 

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Hundreds of people queued up early today to snap up bargains at the opening of the UK's first Best Buy superstore.

The American discount electricals giant is slashing prices by up to 50 per cent to compete on the highly competitive British high street.

 

The company's first outlet is in Thurrock, Essex and it plans to open 200 more, selling electric cars alongside 3D televisions and lap-tops. Its British website will go live in the autumn.

 

The crowds gather early in the morning for the opening day of Britain's first Best Buy in Thurrock, Essex

 

The company says it is prepared to suffer losses of £45million in its first year of trading in Britain in order to grab market share from rivals.

Historically, British consumers have paid far more for their technology, from the latest Apple iPods to Sony PlayStations, than their US counterparts.

 

International electronic firms have treated Britain as a Treasure Island where they have been able to get away with charging more.

 

Best Buy says it will match the cheapest shop prices from rivals within a 15 mile radius. It will then sweeten the deal with an added discount of 10per cent of the difference.

 

Tempting offers include 45per cent off a Toshiba 32in HD ready LCD TV bringing it down to just £179.99 and similar reductions on other sets.

 

Anyone who pays more than £499 for a TV will get their money back if England win the World Cup.

 

Best Buy will sell TVs and computers as well as energy-saving products such as electric cars, motorcycles, scooters and bicycles

 

BEST BUY: Facts and Figures

 

Best Buy was founded in 1966 as The Sound of Music store. It changed its name in 1983.

Today it is the largest electronics retailer in the U.S and Canada and operates around 1,300 stores.

The company bought half of The Carphone Warehouse's retail business in 2008 for £1.1billion. It has used the phone company's 2,400 retail stores to help it break into the European market.

 

The Best Buy family of brands and partnerships collectively generates more than £27 billion in annual revenue.

 

There is a 44 per cent saving on a Nintendo Wii black console with wireless remote, nunchuk, Wii sports and Wii sports resort, bringing the price down to £99.99.

There are also half-price deals on mobile phones and Blackberry handsets plus savings on digital cameras. The price of integrated kitchen appliances will be 25 per cent off.

 

The company has enormous financial muscle and some 20 per cent of the north American electricals market.

 

It paid more than £1billion for 50per cent of Carphone Warehouse to gain a foothold in the UK and will be a direct rival to specialists Currysdigital and Comet.

 

However, it will also be locked in a fierce price battle with Tesco, Asda, Sainsburys and Marks & Spencer, which have their own growing electrical departments.

 

Best Buy will also pose a challenge to John Lewis, which has its own price promise of 'Never Knowing Undersold'.

 

The store will feature a 'GreenTech' area, which will showcase energy-saving products such as electric cars, motorcycles, scooters and bicycles.

 

Customers were soon snaking around the building eager to get their hands on electricals with up to 50% discount

 

The retailer will exclusively stock the Brammo Enertia electric motorcycle, which will be available to buy from August. It will also sell electric scooters such as the Xero Tech, with prices starting at £1,499.99.

 

Best Buy will showcase the £86,950 Tesla Roadster, with a 244-mile range, understood to be the fastest electric vehicle in production.

 

It will also offer the Citroën C1 ev'ie four-seater city car, which will be available in all Best Buy stores for customers to test drive and order.

 

The cars, which are converted to run on electricity in the UK and have a starting price of £16,850, are exempt from congestion charges and road tax.

 

Best Buy staff will also offer consumers advice on how to save energy and money.

Customers who want a new 3D TV will be able to buy the LG 47" LCD version for just under £2,500. A Panasonic 50" plasma 3D TV will be on offer for £2,300 from June.

 

Chief executive of Best Buy Branded Operations, Paul Antoniadis, said: 'We are confident that we can deliver a whole new experience in consumer electronics retailing.

 

'We look forward to welcoming our first customers to our store where they’ll find lots of amazing deals, great prices and entertainment.'

 

Best Buy operates a 'Walk out working' system. Customers who buy any laptop, camera or mobile phone can have it set up so its ready to use by store staff.

 

This will include transferring old contacts onto your new mobile phone or installing software and parental controls on your new laptop.

 

The store is also offering a trade-in service where customers can return old televisions, laptops and mobile phones, to receive discounts towards a purchase.

 

The next Best Buy stores will open in Hedge End, Southampton, and Merry Hill, the West Midlands, in June. Others will follow in Liverpool, Croydon, and Cribbs Causeway, Bristol.

Read more: http://www.dailymail.co.uk/news/article-1270017/First-Best-Buy-electrical-megastore-opens-UK-hundreds-queue-U-S-style-discounts.html#ixzz0mekqvbj7

Mark, don't you actually have anything better to do than posting such pointless news?

 

People making lines for buying things in the UK... Wow that's amazing news.

Best Buy is an awesome electronics store, glad you guys finally have one.

I lol'd at the thread title.

I lol'd at the thread title.

 

Me too.

How hypocritical of me. :wacky:

Me three. Though the irony of the title is probably very obvious to anyone who comes on this forum.

Gosh Reilly, don't you have anything better to do? :wacky:

I want one of those here. Then video games wouldn't be ridiculously expensive

I wonder if we have one of these here. :thinking:

The queues for new Ikea's are worst

Gosh Reilly, don't you have anything better to do? :wacky:

 

:lol:

The queues for new Ikea's are worst

 

Especially that one that ended up in a riot with someone being stabbed to death.:dozey:

Mark, don't you actually have anything better to do than posting such pointless news?

 

I lol'd at the thread title.

 

Me too.

 

:lol:

I love how Mark ignored all the posts about him and only laughed at the one Crests said about Reilly (which I'm pretty sure was actually a subtle shot at Mark again).

I love how Mark ignored all the posts about him and only laughed at the one Crests said about Reilly (which I'm pretty sure was actually a subtle shot at Mark again).

 

Exactly!

If you had the time wouldn't you go to the opening to get some good deals on tvs etc?

What happened to 'Kite'?

:lol:

 

Are you really that deluded? Or are you just seeing what you want to see?

No wait ... don't answer that.

What happened to 'Kite'?

 

Got eaten

Are you really that deluded? Or are you just seeing what you want to see?

No wait ... don't answer that.

 

Well you're a fine one to talk on that score!!:laugh3:

What a hypocrite!:rolleyes:

And that goes for several others too.

The thing is, I'm not implying that anyone's "wasting their time" by posting on Coldplaying, unlike somebody else, who's basically shooting himself in the foot by doing so.

That is about as ironic as it gets.;)

Nice one Ian, the fighting sure has toned down since Nathan left.

Nice one Ian, the fighting sure has toned down since Nathan left.

 

Indeed it has. Unfortunately there are still people acting like they own the board by trying to dictate to others how they post, and by trying to tell Ian what to do, however.:dozey:

I waste time on here :P

 

Allows me to unwind after working during the week

YOU GUYS ALL SUCK GTFO.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

:lips: