"Consumers are back out spending again." That's what Best Buy
CEO Brian Dunn said as he described his anticipation for the forthcoming holidays. Even with the economy going the way it is, the industry seems to have won them over, getting them to spend on their toys again.
"We are hiring more people for seasonal business," he said. "You are going to see us go deeper on inventory bets. I'm more optimistic today than I was in June." With the major players in the industry fighting it out to attract the holiday splurge, Best Buy won't be the only one getting ready to do some major selling.
They're not sitting on their laurels though. Dunn points out that they're going to remain competitive on pricing and value, despite deals and promos popping up left and right. "We are not going to be beat by price," he said. "Value is going to be important across all price spectrums, [but] service will be an increasing part of what we do."
Dunn, who was only promoted to his current position back in June, now has a chance to earn his stripes. With the still-struggling economy, cautious consumer spending, and industry competitors wanting to make it big like they do, it's still not going to be an easy road ahead.