Best Buy: Shoppers Are Shifting Their Spending Toward Seasonal Sales

As consumers prove more cautious about their discretionary retail spending, Best Buy is seeing shoppers hold off until sales events to make big purchases.On a call with analysts Thursday (May 30) discussing the retailer’s first-quarter fiscal 2025 earnings results, the consumer electronics retailer noted that shoppers are adjusting their purchasing behavior in response to ongoing financial pressures.“Customers remained very deal-focused and attracted to more predictable sales moments,” CEO Corie Barry said. ...