The wholesale club sector experienced several fundamental disruptions during the pandemic that offered the potential to redefine the space. Brands like BJ’s Wholesale Club surged with 13.0% visit growth in 2020 compared to 2019, while Sam’s Club saw a 4.3% increase in visits year over year.
When we covered Best Buy’s strong start to 2021, we noted that the brand was positioned exceptionally well for the recovery period. And while our overarching affection for the brand and its powerful strategic decisions are clear at this point, recent data only deepens our expectation for a very strong 2021.
The retail landscape is changing, but the last year has proven the fundamental importance and centrality of physical retail. The result is not a doomsday, retail apocalypse scenario but instead a newer, more sophisticated ecosystem that places emphasis on the full range of value driven by an offline location.
In this Placer Bytes, we dive into recent announcements from Best Buy, Dick’s Sporting Goods, and Nike. All three are launching new initiatives aimed at leveraging their strength in the current retail environment to drive long-term benefits.
