Best Buy is cashing in as Americans grow older


Best Buy is cashing in as Americans grow older


Americans are getting older. That`s an opportunity for Best Buy.

In August, Best Buy announced it would buy GreatCall for $800 million. GreatCall makes Jitterbug cell phones with big buttons and bright screens designed for senior citizens, as well as medical alert devices that can detect falls and summon help.

Best Buy (BBY) may not seem like the first place to find an over-70 crowd. But buying GreatCall allows Best Buy to expand its customer base overnight.

If it can attract an older clientele, Best Buy increases its chances of becoming the go-to store for aging Americans and their caregivers. It can bring them in for Jitterbugs and medical alert gadgets and send them home with TVs and Echoes.

Analysts expect Best Buy to feature GreatCall products prominently at its showrooms, and Geek Squad agents will probably recommend them to customers.

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- - Volume: 6 - WEEK: 42 Date: 10/16/2018 9:46:35 AM -