Best Buy Opens First 24-Hour Store
By Tom Ryan
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
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.
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?