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Tuesday, March 25, 2008 | 11:46am
BUSINESS MATTERS: Best Buy Hires Magic Johnson To Help them Become ‘More Black’
Another example of businesses NOT understanding their core consumer so they pay us to help. Unbelievable.
BlackEnterprise.com is reporting that electronics giant, Best Buy Co. Inc. has inked a deal with Magic Johnson Enterprises in effort to build its “street cred” among the urban marketplace.
Best Buy has obviously realized what I’ve already known, that the African-American consumer spends more money shopping than any other ethnicity spending more money buying consumer products than they make. As part of Best Buy’s growth initiative they’ve begun opening of more stores in ethnically diverse neighborhoods and have hired to Magic to make them more appealing. They join Aetna, Starbucks, Burger King, NASCAR, T.G.I. Fridays, and 24 Hour Fitness as companies that have partnering with MJE to increase multicultural consumer traffic.
Best Buy hopes MJE can help enhance management’s “ability to create jobs, train, retain, and develop employees and to create value in communities by developing local business partnerships and supporting urban development which helps everyone,” Herschel Herndon, Best Buy’s vice president of multicultural relations tells Black Enterprise. “We’re going to look at a range of ways to better serve the multicultural consumer who is already a great customer of Best Buy. We love electronics. We love to have the latest and greatest DVDs and CDs. So, this is about how we can grow the physical presence of Best Buy in the urban community.”
Aint that the truth. We’re always throwing money at Best Buy.
According to research conducted by Yankelovich, roughly 57% of the Blacks (including Hispanics) indicated that they are more likely to purchase from enterprises that Magic has his hand in.
FILED IN Business & Marketing, News, Technology
It always surprises me how great of a business man Magic is because them man can hardly talk. But I honestly dont understand Best Buy’s need to do this. Like you said blacks are already spending money there.
And i wonder how that deal with NASCAR turned out cause I still don’t watch lol
Well I think they’re looking endear the brand to the black community. We all know black people get very offended easily so corporate wise its good business to find out how to “be down” without being offensive.
LOL… This is too funny.
I’ve gone into three Best Buys in NYC (one in Brooklyn, two in Manhattan). Black people are behind the counter and on the sales floor (as employees) so I’m not sure what difference it will make in NYC.
Now that I think about it: What markets are they needing help in? I’ve been to a few Best Buys out of NYC too and found folk all over the place.
You know we like the shiny new electronics. We are going where the bargains are.
Ahhh…its one thing to have a store and make the black folk come out their hoods to go shop. Its another thing to open a store right in their neighborhoods. I’m not sure you can use New York as a barometer, there’s really no “other side of the tracks.” Open up a shop in Mechanicsville, GA and it may be a different story.
I really don’t see what the problem is here. So they want to target blacks, good for them. That’s what every company in America is doing these days. Damn near every commercial that comes on TV has a hip hop track on it. If these companies only appealed to white people, we would be all up in arms as well. If it wasn’t necessary, oh well, Magic just got an “unnecessary” check. Let them waste their money. In actuality, the “let’s get blacks to buy our product” marketing scheme that most American companies have adopted probably doesn’t do them any good anyway. I mean how many Jeep Wranglers are floating around the hood? Really?!
I think more then marketing to a black community they’re trying to be more African American friendly. Like the world is going “Green” they’re going “Black.” Look for the company to promote blacks to a couple key positions etc. Its not like you’re going to see them selling bean pies and collard greens or nothing.
Will the signs in the store be more ebonic friendly?
No they’ll just sell more prepaid phones. lol.
ya’ll silly