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This week, Canada’s largest retailer of consumer electronics abruptly shut the doors of of its 131 Future Shop locations. After more than 32 years in business, Future Shop closed 66 stores on Saturday, March 28, 2015. The remaining 65 locations will reopen within the week under the banner of U.S.-based owner, Best Buy. (See maps of Future Shop and Best Buy locations, below).
Future Shop Canada locations
Best Buy Canada locations
With many of the Future Shop locations within walking distance of a Best Buy–some just a parking lot away–the closures will dramatically reduce Best Buy’s real estate footprint, while still providing consumers with a neighbourhood big box electronics store.
It’s been a tough year for Canadian retailers and the thousands of employees whose lives have been affected by store closures. Hopefully, many former Future Shop employees will be able to put their electronics knowledge and customer service skills to work at the newly opened Best Buy stores.
Electronic shopping malls and smaller electronics reduce or eliminate the need for brick-and-mortar storefronts.
It’s a changing world, and consumer electronics are being delivered to us in smaller packages requiring less retail storage space. For example, big stereo systems have been replaced with iPods and giant desktop monitors and computers have been shunned in favour of thin, lightweight laptops and tablets. And, of course, there’s the convenience of on-line shopping, which makes price comparison quick and easy and, as an added incentive, delivery is usually fast and free. It’s a win-win-win situation for consumers and smart retailers are continually evolving to meet their customers’ needs.
The bottom line…
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