Best Buy to open outlet store in Phoenix

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Posted at 8:38 AM, May 13, 2022
and last updated 2022-05-13 11:38:15-04

Best Buy Co. Inc. is trying out a new strategy for its outlet stores and will be opening one in Phoenix.

The company announced this week that it will be transforming its location in Phoenix near the Paradise Valley Mall into the first Best Buy Outlet store in the metro. It is expected to open sometime this summer.

While Best Buy has had outlet stores in the past – currently it has 16 across the country – it is changing what types of products will be there.

The outlet stores primarily carried large products, like major appliances and big-screen TVs, but now outlet locations will have a broader offering including laptops, gaming devices and mobile phones. Best Buy will allow people to shop at the Phoenix outlet through its website as well.

“These outlets unlock value by alleviating space and capacity from our core stores, and they are an important element of our circular economy strategy by providing a second opportunity for products to be resold instead of ending up in the landfill,” Best Buy’s Executive Vice President of Omnichannel Damien Harmon said during the company’s latest earnings calls in March.

Read more of this story from the Business Journal.