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Best Buy President: Consumers Focusing on Value

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    Exclusive: Mike Vitelli on expectations for holiday shopping season

  • Duration 7:42
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How -- the official kickoff to the holiday shopping season now just hours away.

And now where is that this one could be saving up to be a real Turkey because people are still not opening up their wallets consumer spending.

Barely budging at all last month and that had stocks falling again big time this day.

The Dow down close to 500 points is relatively young week -- Will all of these extra early door busters be a -- horrible past maybe not if you're willing to camp about.

Like these thoughts -- -- best find Bakersfield California.

They're hoping -- can't stand on a number of great -- but a limited door buster deals.

It's a scene playing out pretty much across the country -- valley is the process -- He -- it on the substance is set my dad could be a bomb.

These are -- are big reasons to grab people but but what what what has some camping out -- was -- -- what would make me camp outside -- store.

If it's a cultural experience and we've seen over the years in a play a lot of different demographics that are there it could be.

Moms and orders and fathers and sons and families in fact this year at a 120 of our stores.

We're actually gonna be showing the recent dvd release of Harry -- new movie.

In the -- -- parking lot.

-- 120 stores of that waiting time will be a little more fun -- little more interest they have put it some of these guys it is now just doesn't happen.

You know but up until midnight tomorrow night that's right that's right so you don't have to do you play the movie wouldn't -- No idol started at 9 o'clock for -- most locations on Thanksgiving.

Are we talk a little bit -- but the door buster deals of these incentives to get people to come and at midnight and so what we're gonna get in.

To some of the controversy of having workers commended them and maybe yours have I don't know but.

You've heard from the targeting other workers that the -- Keen on that but it said that I wanna go do some of the specials in Europe and because some publicity I've been and I'm wondering if there's a strategy here.

That unit 42 inch flat screens normally 500 dollars.

Not even 200 dollars laptops that are third their normal going price tablets.

If you don't -- long -- But there's a limited Kwan stepped and that's always been true that's part of what a door -- deal -- it's kind of been the tradition for years but I tell you if you looked at the insert.

There's -- horses on the front and back cover this 800 other items that are in there.

There are some limited -- but we.

If you look at our stores right now you would see more of Victorian them and we've ever seen so all right so that you normally sores are part of the minimum ten of these products aren't auto -- -- the eleventh guy on the line -- well you know we do a great job with that I think is that.

You know that before -- even in the store.

Because not only do we do the job -- the people who actually giving out tickets for each of the door -- I think -- police the potential trample crowning now we've we've worked at the lines for years it's one of the things I'm most proud of about our people about what they do to manage the line -- -- people feel comfortable and communicate with them throughout the whole process.

But in fact I think opening early.

Well actually even help because of people as you said are online now so waiting until 5 o'clock or 6 o'clock in the morning that's just additional hours that they were already going to be there -- so -- I think it'll be better you know you never know it's.

I don't know if you think people are shoppers at facetime on the subject to being open on Thanksgiving or opening -- -- -- midnight.

But we did talk to a few today and and make Smart this is just shoppers talking about you guys -- -- I really think it today for.

People behind celebrating with their but their families I think it's awesome that gives -- a great opportunity -- mark I would rather shop on Thanksgiving Day and have to get up at 3 o'clock in the morning to go shopping.

Feel about it -- Stanley should be comments should be together I think Thanksgiving should be for handling.

I was ready to go I'm ready for Friday series it's well I'm not on the streets and I'm not going -- When America.

I think that's -- diversity of opinion almost every topic in the United States but what's great about that is were able to satisfy you to those people.

The Galvin have you had your employees who are so hot now you're doing this on things do I don't want to do.

That I'm sure there's a few that have done that in fact when we worked that shift their people say I can't work the early shift the work -- second shift -- the teams have done a great job and it's kind of working or not that's Holland it's it's it's the ball if you're on Friday it's not but.

If they're coming in early on.

Thursday itself to actually start -- that would be true.

There's so there is over time -- -- didn't assume more than other years.

You know and -- know currency you know was talked about -- badly about this.

But there does seem to be a concerted.

Sort of a response on the type of on the part of workers are saying enough.

And you know hundreds of thousands signing these petitions.

Wal-Mart or target or.

And I always say well if if that's the business in the nature of the beast and and then you can always worked for the government -- do something else.

But do you ever remember this type of response on the part of workers in general so working had.

In general -- I would say no is that if we haven't seen it as much as for us this is our first -- that we're doing it.

But I think that that that did the variety of ways that people want to shopping the comments that you captured you're exactly right.

Will do our best buy dot com site will be open on Thanksgiving there will be people that wanna shop that way and shop directly from their chair are right on their phone.

There are people that enjoyed the event of getting in line you said you wouldn't do and I -- duty to but there are up a whole bunch of and in watching the lines and in talking with the folks would be in the -- -- I don't -- it myself.

And and there are people that'll come throughout the day we're gonna be open from midnight.

All the way through the whole day his -- question evidences of of the CEOs presidents of -- was thousands or do you just -- cells from the from the future.

Giving him in a little earlier -- sentenced him yet no I don't think so what we've seen is this the Black Friday is a psychological and physical -- to a four week holiday event for for best buy it for many retailers.

Our teams and our stores.

Prepare for for weeks and months we actually start when we're done with -- -- the this season in December will start planning for next year in January.

What worked what what well what didn't go well what we do better next time so it it say.

Physical and psychological start.

For employees and for customers that goes on throughout the entire month of December so -- -- but obviously you guys are not dummies are good at what you do and artists you've got these.

A very attractive incentives cells that are going me thinks that that's assignment you're.

-- worried about the mood of the consumer.

We've talked about the slowdown we talk about -- -- getting anything done people pulling in the reins a little bit you worried that this is a disappointing parliament.

Not really I mean we don't know yet -- I've seen.

Predictions of ranges of what the holiday season's gonna -- -- -- -- and do their -- both sides of the spectrum so we don't know what we do know is the consumer is focusing on value.

And we're showing that value in some of the deals that we've seen but those aren't unique to this year if -- if you went back and -- -- -- best -- done over the news and it's not especially cute to see if -- especially -- we were clear about making sure that the values were important.

We were cleared to make sure that we were showing products under 99 dollars and under fifty dollars that site -- gift giving is alive and well it's it's a question what people are going to be able to.

-- -- deal with the financially we're gonna make sure that we can respond to every one of those needs that people have.

For themselves for their loved ones moniker of immigrant Thanksgiving -- commuter.

I guess probably a hospital for weeks a year of your year but doesn't look at one of the best four weeks of ours does with a good attitude Microsoft thank you very much -- to.

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