Best Buy announced plans to open its first 24-hour store in New York City. The 48,000-square-foot location in Union Square at the corner of 14th Street and Fourth Avenue replaces a closed Circuit City store.
The store will be open from 8 a.m. Monday through midnight Saturday. On Sundays it will be open from 10 a.m. to 8 p.m.
In a statement, Best Buy said the expanded hours provides a "much-needed resource for the downtown Manhattan community," including students from nearby universities such as NYU and many New Yorkers whose schedules conflict with the retailer's traditional store hours.
"Today's consumers have hectic lifestyles that don't always conform to traditional retail hours," said Brian Dunn, CEO, Best Buy. "New York has long been known as the city that never sleeps, making Manhattan the perfect location for our first 24-hour store."
The 24-hour locations will include Geek Squad services and in-store pick-up of items purchased via online or phone channels. Local customers will have the option of same-day delivery for products purchased at any hour of the day. The Union Square location also will be home to Best Buy's largest musical instruments department in the U.S.
Best Buy will have plenty of company being open late at night in Manhattan. There are currently two 24-hour drug stores (Walgreens and Duane Reade) nearby, and several grocers (Food Emporium, Trader Joe's and Whole Foods) in the area have extended hours.
In the boroughs of New York City, Best Buy operates five other stores in Manhattan, two each in Queens, Brooklyn and the Bronx, and one in Staten Island.
Discussion Questions: What do you think of a 24-hour consumer electronics store? What's the likelihood of extended hours and 24-hour stores will become increasingly common over the next several years?
What's the likelihood that extended hours and 24-hour stores will be a major trend over the next three to five years?