When Best Buy Co. (BBY) said yesterday it was closing 50 big stores and opening 100 smaller ones, the world’s largest electronics retailer was adjusting to reality: The era of big-box retail dominance is coming to an end.
The new mantra is small box. While Best Buy, Wal-Mart Stores Inc. (WMT) and Target Corp. (TGT) are still opening large stores, all are putting increasing emphasis on smaller ones. Best Buy plans to double the number of its smaller Best Buy Mobile stores by 2016. Wal-Mart is building as many as 100 small-format stores this year, while Target is opening five CityTarget locations.
After 50 years of putting mom and pops out of business, big-box retail is having a mid-life crisis. A slow economy has hurt same-store sales, narrowing margins at big stores. Meanwhile, consumers, armed with price-comparison technology, are visiting more stores seeking deals or exclusive merchandise rather than making one-stop, fill-the-cart excursions.
The innovative one-piece design features a break on one side for bending open and close for easy cable pass through. The grommet is integrally molded to the strap and won’t come loose while installing cables. The Dècor Splitport™ design is perfect for both wall and ceiling installations for audio, video, security, and office networking.
• One Side Split for easy cable pass through
• Metal Strap and Flexible Grommet
• Can be used with any standard dècor plate
• Gang together for large cable runs
• Use a Utility knife to expand the slit length