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J.D. Power and Associates Awards Best Buy Highest Ranked Appliance Retailer of the Year
MINNEAPOLIS, November 18, 2009 – J.D. Power and Associates has named Best Buy (NYSE:BBY) the “Highest in Customer Satisfaction among the Largest Appliance Retailers,” outperforming four other major appliance retailers profiled in the study. The J.D. Power and Associates 2009 Syndicated Appliance Retailer Study, which had 4,230 respondents, examined retailer performance in six categories ranging from installation, price and merchandise selection, to sales staff and services. Best Buy, the largest consumer electronics retailer, received the highest overall satisfaction score, improving from its third place finish in 2008. Best Buy achieved a score of 797 on a 1,000-point scale and performed particularly well in the installation service and delivery service category.
“We are thrilled with the honor of being named J.D. Power and Associates’ highest ranked Appliance Retailer and pride ourselves on our extensive selection of home appliances, as well as our knowledgeable sales staff,” said Liz Haesler, vice president of Home Life for Best Buy. “Our Certified Appliance Specialists guide and advise our customers to help them find the perfect solution for their appliance needs, and clearly that expertise has won the respect and appreciation of consumers.”
A recent survey conducted by GFK Roper* and Best Buy found most Americans own aging and out- of-date appliances. Among larger appliances, almost half of those surveyed (48 percent) own conventional ovens over five years old, followed by outdated refrigerators (44 percent). The number one most needed appliance in American households today is the microwave oven. 13 percent of consumers plan on purchasing one in the next three months. Recognizing the need for imminent replacement or upgrades, 10 percent of respondents indicated they would be making a general appliance purchase soon, possibly as a family gift this holiday season.
Energy efficiency is an issue appliance seeking consumers are particularly interested in and is a timely topic with the new incentive program in the energy efficiency space recently approved by Federal government. Individual states are looking to roll out their own rebate programs in the next few months and throughout 2010. While Best Buy’s survey found that 1 in 10 Americans have non-working appliance in their household, it also revealed that 40 percent of consumers say a government rebate would make them more likely to purchase an energy-efficient appliance to replace an older non-efficient one.
Consumers looking for energy-efficient appliances should look for products that are ENERGY STAR™ qualified, which help prevent greenhouse gas emissions by meeting strict energy efficiency guidelines set by the U.S. Environmental Protection Agency and the U.S. Department of Energy. Best Buy has an extensive selection of ENERGY STAR qualified appliances and as a retailer is committed to protecting the environment while still saving consumers money. In 2009, Best Buy received the Energy Star Award for Excellence in Electronics and Appliance Retailing.
While price was cited most often as being an important reason for shopping at a particular retailer, friendly, knowledgeable sales staff accounted for more than one-fifth (23 percent) of overall satisfaction. Best Buy stores are staffed with in-store Certified Appliance Specialists, ready to help customers find the best products to fit their specific needs. Every retail location is stocked with a huge selection of name-brand appliances, from kitchen gadgets to cleaning equipment. As an added consumer value, Best Buy also recycles old appliances for free with every replacement purchased, and offers quick delivery and installation options.
Visit BestBuy.com for more information of product and service offerings.
* GFK Roper Survey conducted in October 2009.
About Best Buy Co., Inc.
With operations in the United States, Canada, Europe, China and Mexico, Best Buy is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy family of brands and partnerships collectively generates more than $45 billion in annual revenue and includes brands such as Best Buy; Audiovisions; The Carphone Warehouse; Future Shop; Geek Squad, Jiangsu Five Star; Magnolia Audio Video; Napster; Pacific Sales; The Phone House; and Speakeasy. Approximately 155,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and Web sites, in-home solutions, product delivery and activities in our communities. Community partnership is central to the way we do business at Best Buy. In fiscal 2009, we donated a combined $33.4 million to improve the vitality of the communities where our employees and customers live and work. For more information about Best Buy, visit www.bestbuy.com.
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