Could Michigan Be the Next State to See Best Buy Store Closures?
Michiganders are concerned about the fate of their local Best Buy store, as the company has closed more than a dozen stores across the country recently.
Residents should be a little worried, especially after 400 Michigan Burger King employees were recently let go. Not to mention the 400 Bed Bath & Beyond stores that have already closed in the last year, including Flint, Saginaw, Troy, Westland, Okemos, and Holland locations.
Best Buy recently announced the closing of 17 stores across the country with more closures coming later this year. According to Best Life, the electronic retail giant will continue to close an average of 15 to 20 traditional large-format stores per year through the beginning of 2025.
Will Michigan Slide by Without Any Best Buy closures?
With the number of closures that are expected, I would be surprised if a handful of Michigan's 30-plus stores weren't included.
Why is Best Buy Closing So Many Stores?
I don't think it comes as a shock to know that online shopping has played a significant role in the closures, given the increasing trend of consumers shopping online.
Best Buy CEO and director Corie Sue Barry:
These changes are necessary to relieve the pressures of a changing world, a world in which customers are in control and increasingly more digital and the cost to operate physical stores such as rent and labor are not likely going to come down.
This isn't the first retail giant that's seen its fair share of struggles in recent and unfortunately, it won't be the last.