You can’t trace a precisely parallel line charting Best Buy’s decline alongside exurbia’s economic cratering. Technology and consumer preference have also taken a toll. Sales of physical media like DVDs and the players to play them have dropped as consumers stream more and more movies and music. Apple stores have seduced customers with a boutique approach that Best Buy plans to copy in some locations. Amazon and other online retailers have likely siphoned even more.
Despite these factors, the twilight gathering around Best Buy feels more than anything like part of the darkness that snuffed out the exurban dream. These signature outposts of [David] Brooks’ new world [described in his 2004 book On Paradise Drive] filled new homes with flatscreens bought with home equity loans that have since left victims of the crash drowning in debt. Like so many exurban homeowners, Best Buy banked on false promises of perpetual prosperity as contrary economic realities lurked.
I would also add that Best Buy has has to contend with expanded (and cheaper) electronics offerings at other big box stores, notably Walmart and Target. Given the number of factors involved, is it really fair to characterize this as a “exurban problem”?