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Best Buy adds tiers to membership program

May 11, 2023

Retail’s consumer electronics segment continues to feel the pressures of an economic environment where people are less inclined to make discretionary purchases.

At the height of the pandemic, when an unprecedented number of people transitioned to remote work or school, sales of consumer electronics surged as consumers spent more — bolstered by pandemic relief money — on devices to outfit their home office and study spaces.

But federal health officials announced this week that the pandemic emergency is now over. And for many people, the realities of work, school and day-to-day life had returned to normal months ago.

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