Retail Dive | January 5, 2022 Best Buy's launch of an in-house media company sees the electronics retailer formalizing its ad offerings amid a surge in retail media advertising, which eMarketer forecasts will grow 31.4% to $41.37 billion in 2022. The company says it has 3 billion interactions with customers per year, giving it a wealth of data and insights that can be helpful in connecting brands to consumers at various times and places as they adapt to increasingly tech-driv

Best Buy Newsroom | November 10, 2021 Best Buy proudly announces becoming a founding member of the Breakthroughs 2030: Retail campaign, a Race to Zero initiative that aims to accelerate climate action within the retail industry. Best Buy is doing its part to save the planet and create a more sustainable world for Best Buy employees and the communities it serves. Best Buy partners with retailers such as H&M Group, IKEA, Kingfisher and Walmart to encourage others to accelerate

Best Buy | October 5, 2021 Best Buy’s new Totaltech membership program is now available nationwide. The new membership includes everything from unlimited Geek Squad support and access to a 24/7 VIP service to special member pricing and so, so much more. This nationwide launch comes after Best Buy Beta pilot launched last April. Additional perks members receive for $199.99 per year: Up to 24 months of product protection on most Best Buy purchases Free delivery and standard ins

Best Buy Corporate | September 8, 2021 Starting this month, Best Buy's outer box packaging of some TVs within its own Insignia brand is being made with sustainably sourced paper that is certified by the Forest Stewardship Council (FSC). This ensures that packaging comes from responsibly managed forests that provide environmental, social and economic benefits to help protect the planet — today and tomorrow. “Our sustainability journey has pushed us to continually find new ways

Best Buy Corporate | August 31, 2021 Best Buy announces a new lineup of electric transportation products now available on BestBuy.com and coming to select Best Buy stores this October. The selection includes e-bikes, scooters, mopeds and accessories from some of the best names in the industry, including Unagi, Bird, Segway-Ninebot, SUPER73 and SWFT. “There’s been incredible innovation in the e-transportation space, and we know more customers are looking for ways to efficientl

StarTribune | June 15, 2021 Best Buy predicts consumers continuing to invest in their homes, including their backyards. The retailer now offers an expanded variety of grills. Outdoor offerings from Traeger, Weber and Ooni are already available in select stores and online. The retailer will soon be carrying more fire tables, more outdoor heaters such as those from Solo Stove, and outdoor furniture. The outdoor grill/oven market is expected to grow to $6.5 billion by 2025, acco

Best Buy Corporate News | January 15, 2021 Four up-and-coming artists from Best Buy’s Teen Tech Center network were paired with designers at PopSockets who served as mentors throughout the process. The students created their own PopGrips, small, round attachments that connect to the backs of phones and tablets to help users hold and prop up their devices. The teen-designed PopGrips will be sold as a part of Best Buy’s Black History Month campaign. Half of the sales from each

Best Buy Blog | January 12, 2021 No one could have imagined that webcams would be among the hottest tech products of 2020, but that’s exactly what happened in the early days of the COVID-19 pandemic — and Best Buy had to act quickly to serve consumers’ shifting needs. Best Buy’s primary focus throughout the pandemic was on keeping everyone safe while continuing to meet customers’ essential needs. For example, accelerating its planned launches of contactless curbside pickup an

Retail Dive | November 30, 2020 Best Buy is testing new store formats at four locations in Minneapolis for stores as fulfillment hubs. These new formats will limit SKU assortments to the most popular items in shoppable areas, which will be nearly half the size. Allowing the rest of the space to be dedicated to pickup and ship from store, CEO Corie Barry. Barry laid out a "hypothesis of stores as more primary fulfillment hubs". She acknowledged the tests are in early stages an

Business Insider | August 25, 2020 Best Buy saw its domestic comparable online sales spike by 242% in the second quarter, as the electronics retailer's omnichannel strength successfully canceled out headwinds from the coronavirus pandemic. CEO Corie Barry told analysts that the strong online gains "highlight our ability to harness our digital first mindset." By comparison, the tech-focused retailer's total comparable sales increased 5.8% year-over-year. "Products that help pe

Retail Info Systems | August 4, 2020 Best Buy will leverage Google Cloud's cloud infrastructure and analytics services to power a data-driven retail strategy to deliver newer and more personalized shopping experiences. Google Cloud and Best Buy are expanding their partnership via a new, multi-year agreement that names Google Cloud as the cloud provider for Best Buy's Enterprise Data Platform. This new partnership will help Best Buy deliver on its goal to enrich lives through

Star Tribune | July 21, 2020 Best Buy will permanently raise its minimum wage to $15 an hour for U.S. workers, following other retailers such as Target. The Richfield-based electronics chain also said Tuesday its sales are up 15% since stores opened in mid-June to July 18, compared with the same period a year ago. The new pay for domestic hourly employees will take effect Aug. 2, a day after temporary incentive pay increases for retail associates and supply chain employees wh

Retail Dive | April 29, 2020 In May, Best Buy will begin"consultation services"in about 200 U.S. stores,where customers will be able to schedule appointments, according to a corporate blog post Tuesday. Each customer will have a dedicated sales associate, so there will be a limited number of people in the store "at any one time to ensure appropriate social distancing," the company said. That followed a notice to customers from CEO Corie Barry, ​saying that Best Buy's Geek S

Seeking Alpha | April 15, 2020 Best Buy Co., Inc. today announced business updates related to the novel coronavirus (COVID-19). The following are key points made in the press release. Best Buy (NYSE:BBY) says it has retained ~70% of its sales compared to last year since moving to an enhanced curbside service model with stores closed. Domestic online sales are up over 250% and approximately 50% of these sales are from customers choosing to pick up their products at BBY stores.