For the best product, the worst is still to come

The numbers signal that we shouldn’t expect a return to higher growth anytime soon. That’s largely due to the nature of what Best Buy sells. Unlike recurring spending categories like clothing and food, a retailer’s product mix is ​​dominated by large, one-time purchases like TVs, smartphones, personal computers, and appliances. , all of which do not need annual replacement. After a year in which consumers spent heavily to build digital home entertainment systems and set up telecommuting, it looks like demand has been pulled forward and PC shoppers now have what they need.