If you’re holding Best Buy stock this is bad news, but if you’re trying to upgrade your entertainment system for football season, you’re going to love this.
Citi has put Best Buy on its sell list, and a big reason for that is the declining price of televisions. Here it is month by month:
- October, they were down 28.3% y/y
- In September, it was 22.1%
- August saw a 21.4% decline
- and in July, prices were down 21.1%
And the most significant price erosion has been in TV sized 45” or more. In October they were down 31.3% year over year and in September they saw a 27.6% decline.
Cit doesn’t see this trend getting any better because of a “weak product cycle and increasingly price conscious consumer(s)”.
So you should definitely have your TV fo the Super Bowl.