Best Buy Grows Private Brands

insignia

In an article published yesterday in the Wall Street Journal it was revealed that Best Buy plans to rapidly grow its Private Brands in the home electronics categories. Best Buy hopes to use their Private Brands to create competitive differentiation and gain an edge over rivals Wal-Mart and Amazon

According to the article sales of Best Buy Private Brand electronics have increased 40% in the last fiscal year. Products should include: GPS, HD radios and digital picture frames. Best Buy Private Brands currently include: Insignia and Dynex televisions, Rocketfish video cables, Geek Squad flash drives and Init electronics cases and accessories.

Over the last ten years Best Buy has seen its share of success and failure including the recall of 13,000 26-inch Insignia televisions due to reports that two had caught fire in consumers’ homes. As well as the success of a spill-resistant, ruggedized portable DVD player for kids sold under the Insignia brand.

Read the entire Wall Street Journal article.



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Christopher Durham

Christopher Durham is the president of My Private Brand and the co-founder of The Vertex Awards. He is a strategist, author, consultant and retailer who built brands at Delhaize-owned Food Lion, and lead strategy and brand development for Lowe’s Home Improvement. He has consulted with retailers around the world on their private brand portfolios including: Family Dollar, Petco, Staples, Office Depot, Best Buy, Metro (Canada), TLW (Taiwan) and Hola (Taiwan).

Durham has published five definitive books on private brands, including his first book, Fifty2: The My Private Brand Project. In 2017, he will debut his newest book, Vanguard: Vintage Originals, a visual tour of innovation and disruption in private brand going back to the mid-1800’s.
Dynamic in his presentation while down to earth and frank in his opinions, he has presented at numerous conferences, including FUSE, The Dieline Conference, Packaging that Sells, Omnishopper and PLMA’a annual trade show in Chicago.

Durham lives in Charlotte, NC with his wife, Laraine, and two daughters, Olivia and Sarah.