Best Buy to convert store near Paradise Valley Mall into outlet
May 16, 2022, 10:07 AM
(Best Buy Photo)
PHOENIX – Big-box electronics retailer Best Buy announced plans to open an outlet store in Phoenix later this year.
The company said the store, which is near the demolished Paradise Valley Mall, will be converted to an outlet, one of four such new sites spread around the country.
Best Buy said the new locations would open in summer and fall and reduced-price merchandise would be available to shoppers online as well.
The store at 48th Street and Paradise Village Parkway will stock open-box and clearance items along with laptops, tablets, gaming equipment and cellphones at discount prices.
“These outlets unlock value by alleviating space and capacity from our core stores, and they are an important element of our circular economy strategy by providing a second opportunity for products to be resold instead of ending up in the landfill,” Damien Harmon, an executive vice president at Best Buy said during an investors’ call in March.
He added the outlets helped the chain pick up new customers or re-engage previous shoppers.
Geek Squad support will be on-site at to offer tech support. The store will also offer same-day delivery.
Best Buy has 16 outlets stores and plans to double that number over the next year. Phoenix joins Chicago, Houston and Manassas, Virginia, on the list announced last week.