Saturday, March 28, 2015

No Future.

Another long running name leaves the Canadian retail landscape with the demise of Future Shop.  American owner Best Buy abruptly closed the chain this morning, with no warning to customers or staff.  Saskatoon's Future Shop outlet, at Preston Crossing, will be one of 65 that is converted into a Best Buy store, joining the existing Best Buy at the Centre at Circle and 8th. 

It's unfortunately probably been overdue.  The consumer electronics retail business has been contracting for years, with many buyers switching to online sources like Amazon, or even the online divisions of Future Shop and Best Buy.  It's a different market than when Future Shop opened its first store in 1982, or when Best Buy purchased them in 2001.  And operating both brands has always been a bit odd, as one unit of the company has been competing with the other.  Whether running two stores in a market like Saskatoon, but now under the same name, is viable remains to be seen. 

If you're a now let go Future Shop employee I hope you find a replacement job as soon as possible.

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