Best Buy Discovers That Women Buy Lots of Gadgets
We thought it was old news by now that women are big shoppers, especially and potentially when it comes to electronics. But apparently, it’s only recently that Best Buy realized that so many women like to buy gadgets! It turns out that women spend about 85% of the disposable income in the U.S. According to a recent article in the Wall Street Journal, Best Buy’s profits has remained relatively stagnate of late, but Best Buy has noticed that a rising market share among female shoppers.In an effort to learn how to rope in more female customers, Best Buy has set up a network of Women’s Leadership Forums which included groups of female market research participants all over the country. What they learned from these groups actually helped lead to an increase in appliance sales when the groups suggested that they redesign their appliance showrooms to resemble kitchens. They’ve even reached out to teens. One teen in Atlanta suggested spotlighting colorful mobile phone cases in the front of their Atlanta stores.
But despite all these efforts to lure in more female customers and the resulting rising sales, according former Best Buy exec Julie Gilbert, Best Buy’s executives still didn’t get it and didn’t see the point in utilizing all these female focus groups.
So what lies ahead in the future for Best Buy and their attempt to attract more female customers? They plan on setting up a used video game section with trading, which they believe will appeal to moms with young children.