--- title: Best Buy's Black Friday Hopes | TIME description: Despite the economic crisis, stores like Best Buy are gearing up (and hoping) for some big Black Friday shopping canonical: https://time.com/video/LrwZ8zNm/ og:title: Best Buy's Black Friday Hopes og:description: Despite the economic crisis, stores like Best Buy are gearing up (and hoping) for some big Black Friday shopping og:url: https://time.com/video/LrwZ8zNm/ og:image: https://cdn.jwplayer.com/v2/media/LrwZ8zNm/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Best Buy's Black Friday Hopes twitter:description: Despite the economic crisis, stores like Best Buy are gearing up (and hoping) for some big Black Friday shopping twitter:image: https://cdn.jwplayer.com/v2/media/LrwZ8zNm/poster.jpg?width=720 --- # Best Buy's Black Friday Hopes > Sponsored content. Supplied in partnership with TIME. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Best Buy's Black Friday Hopes [Watch (HLS stream): Best Buy's Black Friday Hopes](https://cdn.jwplayer.com/manifests/LrwZ8zNm.m3u8) (4:57)  _Published 2008-11-27. Despite the economic crisis, stores like Best Buy are gearing up (and hoping) for some big Black Friday shopping_ --- Jul 27, 2023 1:03 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [What Do You Buy Online? What Do You Buy in a Store?](/video/oDJBM30c/) ### What Do You Buy Online? What Do You Buy in a Store? [Good Reasons to Shop on Thanksgiving & Black Friday](/video/yeFzDWQY/) ### Good Reasons to Shop on Thanksgiving & Black Friday [Everything You Need to Know About Black Friday](/video/aUhRYurO/) ### Everything You Need to Know About Black Friday --- ## Transcript >> Hi. I'm Kristina Dell and I'm here with Mike Vitelli from Best Buy, Vice President of-- >> Executive Vice President. >> Executive Vice President of Consumer Operating Groups. >> Consumer Operating Groups, which we buy all the great stuff that's in our store. >> What is Black Friday mean for Best Buy this year given the economy-- >> Well, we try to accomplish Black Friday every year and it's kind of a psychological and emotional and actual physical peak off to the holiday season for employees and for our customers. It's a cultural event the people they get out there and get in line for multiple days of the stories of people that have met their spouses online that have their Thanksgiving meals online. I think that's the essence of what Best Buy different from many other retail is the table that are in this store and their personalities. And their personality show off in what they do in that community, in that store. >> Right. >> So whether it's-- we're gonna show movies. We're gonna have a rock band play, we're gonna play football in the parking lot, whatever that is, it's the employees in each individual store that create that. We don't send them-- here's what you should do. >> Right. It's not uniforms. >> No. They come up with on their own and it's all good. >> We also have the dog water pool over here. >> Yeah, that's a great New York City thing, where the, you know, people bring their dogs as they walk them and bring them in to the store. I've never seen that before but it is a great example of our local employees understanding what their customers do and how to make it a little special so they even have biscuits. This one. >> Oh, yeah. >> You may ask and there it is. >> I know and there it showed up. It's tail. Are there any sorts of products that you know are gonna be hot this year big sellers? >> There are big sellers in almost all of the categories in the store. Some people were looking for some kind of an escape so a high definition TV system with a gaming system or high- definition TV with a blu- ray DVD player, those are amazing combinations to really kind of escape and get the family together. The other thing that people try to do is that is connect. So, you know, the computer and a digital camera. So you're moving new pictures around and send in to your friends and [ unk ] on e- mail and cellphones for us have had a tremendous product category for us this year. So if you walk up to this and [ unk ] and look at the camera and then smile. >> Over here? >> Yeah. >> So then if I-- that's look funny. >> It won't take your picture until you smile. >> It's really funny. >> It's great. It's my favorite demo. >> That's a great [ unk ]. Are there any products that you guys have that are [ unk ] leader, you take a loss on that to get people on the store? >> Basically, Black Friday in itself is that to be very candid. That's why I've had people asked me, friends, family, are those Black Friday [ unk ]? They really-- what they're all cracked up to be and the answer is yes. They're absolutely amazing 'cause they are just that. They are lost leaders, which is why there are lines that start as early as they do. >> Is there any specific area where the technology has really gone forward? >> The one I've noticed that has a material change and the ability is GPS or Global Position. A few years ago, they would just actually show you directions. >> Right. >> Then they started telling you to make the right turn. Now they tell you to make a right turn on Broadway. What we have, in fact, Best Buy under its Insignia brand created a product GPS [ unk ] two- way communication. So through Google, you can go on and say, " Show me the Italian restaurants closest to where I am ." And it'll send it back. " Show me the closest gas stations at the lowest prices that near where I am ." And it'll send that back and put them on the map. So now you have two- way communication with the GPS device. This product actually access a speaker so you can plug it in to your MP3 or iPod and actually hear your music, so kinda-- this is okay. I know you love this. Go and get whatever you want and I think [ unk ] trying to do that just trying to put some personality in a piece of plastic. And we'll tell you one of the biggest changes for Best Buy this year. We started this actually before the economy situation changed 'cause we thought it was just a good idea. When you come at the Best Buy 18 months-- no interest financing, if anything that you buy and any combination is $ 499 or above. And that's been a big change for us to offer that and I think in this economy that's a pretty interesting offer. You could do one stop shopping, finest all thing and not to pay a year and a half a month. By that time, Obama's gonna have everything taken care of. >> Well, let's hope. ```json {"@context":"https://schema.org","@type":"VideoObject","name":"Best Buy's Black Friday Hopes","description":"Despite the economic crisis, stores like Best Buy are gearing up (and hoping) for some big Black Friday shopping","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/LrwZ8zNm/poster.jpg?width=720","uploadDate":"2008-11-27T23:23:18.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/LrwZ8zNm.m3u8","embedUrl":"https://time.com/video/LrwZ8zNm/","duration":"PT4M57S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/video/LrwZ8zNm/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}} ```