Friday, January 19, 2024

Bell/Best Buy to combine forces on new commercial electronics enterprise across Canada

Changes are on the way nationwide for
the Canadian electronic retailer The Source

The Days for  the iconic Canadian Retail brand The Source appear to be numbered, with owner Bell announcing its latest business plan for the electronics retailers, set to join forces with Best Buy in a joint venture to be called Best Buy Express.

The shift in the commercial marketplace across Canada was announced yesterday, with Bell and Best Buy outlining their plans for a 165 store footprint across the nation. 

The partnership will make the most of the respective strengths of Best Buy and Bell to deliver an exceptional shopping experience for Canadians. Best Buy and Bell will invest in an updated store experience, as well as an expanded product assortment, customer experience and training. 

Bell and Best Buy further note that:

Customers will benefit from Best Buy's expertise in consumer electronics to find the latest products from the world's leading brands, its global buying power and industry-leading supply chain. In addition, customers will find Bell, Virgin Plus and Lucky Mobile mobility, Internet, TV and home phone services, all backed by knowledgeable sales and support they have come to expect from Best Buy and Bell. 

Best Buy will expand its presence in malls and in smaller and mid-sized communities across the country, leveraging 165 The Source locations that will augment Best Buy's presence throughout Canada. Best Buy Express' small-store format will give customers an easy-to-navigate, welcoming experience, enabling customers to experience the products in person and talk with a sales associate before purchasing.

The full statement from Thursday's information release can be reviewed here.

Bell entered the retail electronics sector with the purchase of what was once the old Radio Shack chain in  2009; by then the stores had been rebranded the Source by previous owner Circuit City. 

The Source becoming a familiar fixture in many small to mid size communities across the nation.

When Bell took over the chain Radio Shack had over 750 stores nationwide, through the last decade and a half Bell has pared that amount significantly  

Bell currently lists over 300 stores across Canada as part of their The Source brand, so with only  165 locations to be re-branded as Best Buy Express, media reports on Thursday indicated that a number of established retail outlets will be closing.

Whether the Prince Rupert retail outlet joins the new collective of Best Buy Express, or fades from our commercial footprint won't be known until later this spring when the new ventures launch.

Though the focus from yesterday's announcement  towards how Best Buy is using the venture to expand its reach into smaller communities could be a positive note towards the local operations.

More on the Northwest Commercial scene can be reviewed here.

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