Best Buy bullish over the UK’s consumer climate

US electricals giant Best Buy has said its UK launch has been a success with new stores trading ahead of expectations.

The retailer opens a new store in Croydon on Friday and insisted it was upbeat about the long-term prospects for the consumer sector, despite data showing a bleak picture as the government’s cuts hit cash-strapped customers.

Marketing director Kevin Styles said: “We are confident that with the service we offer and the quality of our products Best Buy will be a success in the UK. Of course its is challenging at the moment but we are confident things will improve. We are in the UK to stay. We are relatively small at the moment but we are already ahead of our targets.”

He said the company was seeking to differentiate itself from rivals with better levels of service, particularly with high-tech gear.

The company, which sells mobile phones and other electrical equipment, is in a tough market with rivals including DGS International’s Dixons and Currys chains.

The Croydon store is one of five in the UK, after the first store was launched in the spring. The others are in the West Midlands, Essex, Cardiff and Liverpool. The Croydon store will employ 100 staff.