Discretionary Spending's Definition to ‘Evolve Over Time’: Best Buy CEO

Best Buy CEO Corie Barry sidestepped our questions during her Northern Virginia Technology Council video chat Wednesday (see report, July 30 issue) about how the pandemic was affecting consumer demand for more discretionary tech products like premium TVs. “We haven’t talked about that publicly,” she said. “About a trillion dollars of spend” last year went to sporting events, movies, cruises and vacations, she said. “A minuscule amount of that is being spent right now. Spending is moving into other buckets because of the way we are living our lives. I just think the idea of what might be discretionary and not will evolve over time because we’re living our lives in a way that is completely unique to anything that has come before.”