Unlike in the US, Best Buy in Mexico struggled to compete with giants like Amazon and Mercado Libre, which offered better pricing and faster home delivery.
Competitors such as Grupo Elektra, which kept their stores open during lockdowns by claiming essential business status, offered a more intense, price-sensitive retail environment.
The prolonged lockdown and the uncertainty of future earnings made maintaining 41 physical stores unsustainable. best buy guadalajara mexico
For Guadalajara residents, this meant easy access to the newest laptops, 4K screens, and gaming consoles. The brand was generally well-regarded for its customer service and product variety, attempting to bring the "specialty store" experience to a market largely dominated by department stores.
The year 2020 marked a turning point. The global COVID-19 pandemic severely impacted brick-and-mortar retail globally, but for Best Buy in Mexico, it was the final catalyst for a total exit. In November 2020, Best Buy Co. Inc. announced it would close all 41 of its remaining stores in Mexico, including all Guadalajara locations, by December 31, 2020. Unlike in the US, Best Buy in Mexico
The cost of renting space in top-tier Guadalajara malls like Andares and maintaining specialized staff did not align with profit margins.
Following the announcement, Best Buy in Guadalajara became the site of "total liquidation" sales. Massive discounts of up to 60% on popular items like laptops, drones, and Nintendo Switch consoles caused such a stir that crowds flooded the stores, leading health authorities to intervene and close some locations early to prevent COVID-19 spread. For Guadalajara residents, this meant easy access to
While Best Buy promised to honor all labor commitments and warranties under Mexican law, the exit left a void in the premium electronics market in Guadalajara.