Best Buy plans to reopen 200 of its stores as soon as May, but in order to control the amount of shoppers, you'll have to make an appointment. Yahoo Finance's Brian Sozzi breaks down the details.
ALEXIS CHRISTOFOROUS: All right, another stock we are watching today is Best Buy because it is providing possibly a blueprint for how some retailers are going to reopen their doors when it is safe to do so. And it looks like they are doing it, Brian, with appointments. You can come into the store by appointment only to keep crowd control and customer safety as a main priority. What else did they have to say, and how is this going to actually work? What are the logistics here?
BRIAN SOZZI: Hey, Alexis. Welcome to the new age of retail post the worst of the coronavirus situation. So yesterday Yahoo Finance-- last night Yahoo Finance broke the story. Best Buy opening-- reopening only 200 stores by appointment only. Basically you go into the Best Buy app. You make an appointment. You then have a precall with a Best Buy associate making sure you feel OK, and then you can come to the store.
Once you get to the store, the Best Buy employee will greet you at the store, walk through some social-distancing guidelines and take you through the store, and hopefully you buy something. You check out. They wipe the registers, and they escort you back out of the store.
And I'm also told by a person close-- familiar with the matter this does not change Best Buy furloughing 51,000 workers. They came out a couple of days ago and said that will be in effect potentially for two to three months.
But overall, Best Buy very nicely thought-out plan here to keep people safe for coming back into their stores and buying stuff they probably need.
ALEXIS CHRISTOFOROUS: So wait a minute. Is this the honor system? Meaning they're going to ask you, hey, do you feel OK? And even if you're not feeling great, you're going to say it's OK. I mean, are they going to take your temperature when you walk in? Are they just going to, like, believe you?
BRIAN SOZZI: What I saw-- the image that I saw on how this process works, they are not taking temperatures. They are not there yet. But when the person does show up at the store, they're going to be greeted by a Best Buy employee wearing a mask, wearing gloves. You get handed hand sanitizer. This is a big change in retail.
Look, we've been going to Best Buy, Target, and Walmart pretty much our entire lives. We all walk in these stores. And especially on something like a Black Friday when we just bum rush these stores, that's not going to happen this time around.
ALEXIS CHRISTOFOROUS: Whoa. Yeah, right? Good one there. I mean, the way we shop, at least for the short term, is going to be really, really different.
All right, Brian, thanks for breaking that story.