In 2015, appliances accounted for 8% of Best Buy Co. Inc.’s (NYSE: BBY) revenue mix. Year-over-year comparable sales grew 15.4%, the best of any merchandise category. Perhaps, then, we shouldn’t be surprised that appliance promotions are a big deal for the retailer.
Best Buy’s Fourth of July promotion offers up to 40% off on major appliances. That’s a better offer than the 30%-off deals the company offered for the President’s Day holiday and the Memorial Day promotion.
For example, a Samsung 28.2-cubic foot, 4-door refrigerator (RF28HMELBSR) with a list price of $3,599.99 is selling for $1,994.99, a savings of nearly 45%. The fridge even has a touch-pad so consumers can access the Internet and communicate with other Samsung smart devices. Delivery is free.
A Whirlpool 2-cubic foot over-the-range microwave in stainless steel (WMH53520CS) is on sale for $219.99, a reduction of 45% from the list price of $399.99. Standard shipping is free.
For someone looking for something a bit smaller, a KitchenAid Professional 5 Plus stand mixer (KV25G0XSL) in in silver (black and red also available) that is regularly priced at $499.99 is selling for $224.99, a savings of 50%. Standard shipping is free.
Best Buy is also offering a Frigidaire 5-cubic foot self-cleaning gas convection range (BGGF3045RF) for $599.99, a savings of 40% from the regular price of $999.99. Delivery is free.
The only other merchandise category in which Best Buy posted a comparable-sales gain in 2015 was consumer electronics and the gain was barely a third of the year-over-year boost in appliance sales. We would expect to see more appliance promotional sales running up to the end-of-the-year holiday season. Labor Day is right around the corner.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
