Best Buy is Bouncing Back

by Geezeo Staff Writers

Best Buy (Stock Quote: BBY) recently slashed its revenue and profit forecast based on huge swings in consumer purchasing behavior.

This shouldn't be much more than a small blip. While fewer people are shopping at Best Buy in this weak economy, those who do visit are spending more than ever.

Source: http://consumerdata.geezeo.com

The average Best Buy shopper spent $193.18 in October, up 12.5% from the $172.63 spent in January, according to the Main Street Spending Index (MSSI) compiled by Geezeo, a personal finance Web site that helps consumers track their spending.

Meanwhile, Best Buy's chief competitor, Circuit City (Stock Quote: CC), recently announced it's filing for bankruptcy protection.

Best Buy should bounce back soon.

Geezeo's Main Street Spending Index tracks more than 4 million consumer transactions from 800 companies doing business in the United States and Canada. Market segments include retail, dining out, entertainment, household and utilities. Data is anonymously collected weekly and based on up-to-date bank information.

For more information about Geezeo or to track your own expenses and find ways to save, visit www.geezeo.com. More than half of people using Geezeo's free budget tools are saving an estimated $1,200 annually.