Overview

• Best Buy CEO predicts 2022 will be lowest point in tech sales after two years of decline, with rebound expected in 2023.
• Consumers shifting spending from tech products to experiences, also facing economic pressures like student loan repayments.
• Best Buy posted declines in Q2 sales and profits, but results beat Wall Street expectations.
• Company implementing promotions like "Black Friday in July" to boost sales against competitors.
• While sales dropped in categories like computing and appliances, gains seen in entertainment including gaming.