Best Buy Canada announced it is consolidating both Best Buy and Future Shop stores and websites, with plans to build a multichannel customer experience. The plan calls for closing 66 Future Shop locations, effectively immediately.
The company has plans to invest up to $200 million in Best Buy stores and BestBuy.ca in order to achieve this multichannel customer experience, according to a press release.
The company said this will be done in four ways: launching major home appliances in all stores; working with vendors to bring their products to life in a more compelling way; increased staffing to better serve customers; and investing in the online shopping experience. This latter objective includes expanding in-store pickup areas for online customers, launching a ship-from-store program and making in-store inventory available for online customers.
Best Buy is continuing to review its real estate footprint of both Future Shop and Best Buy stores, many of which are located adjacent to each other. In addition to the Future Shop closings, another 65 stores will be closed for a week as the company transitions them to the Best Buy brand.
Best Buy will have a total of 192 locations across Canada, including 136 large-format stores and 56 Best Buy Mobile stores.
“Currently 80% of our customers are within a 15-minute drive to a store and this won’t change,” said Ron Wilson, president and COO of Best Buy Canada. “We will continue to have a strong store presence in all major markets in Canada.”
As a result of this consolidation, approximately 500 full-time and 1,000 part-time positions will be eliminated.