🎯 Why This Matters
Best Buy is launching a new marketplace in mid-2025.CEO Corie Barry announced this during the Nov earnings call.It aims to expand beyond electronics into new categories.The marketplace promises curated offerings for its 200M users.Frank Bedo revealed that applications opened in December.The move follows a failed attempt from 2011–2016.This time, Best Buy collaborates with Mirakl for smooth operations.
📈 Key Advantages
Best Buy plans to serve both customers and sellers.The platform will complement its core e-commerce website.Products will include unique offerings like phone cases & more.Sellers benefit from 10B+ annual site views and ad opportunities.Best Buy’s affluent customer base is another key draw.Mirakl’s proven tech powers other top U.S. retailers.
💡 What Experts Say
Megan Potts predicts millennial shoppers will flock to Best Buy.She cites affluent and loyal customers as big advantages.Pattern’s George Hatch is optimistic, based on the Canadian model.Smaller brands and direct-from-manufacturers stand to gain.Non-electronics brands could thrive with better placements.Holiday periods could bring massive revenue boosts for sellers.
🚀 What’s Next?
Best Buy must tackle its core business slowdown.Sales dipped 3% last quarter, with weak gaming and appliance sales.The marketplace will bridge gaps in inventory with deep assortments.Its success hinges on balancing curation & customer trust.Lessons from Canada will guide Best Buy’s tailored U.S. launch.Expect the marketplace to challenge Amazon & Target Plus.
Can Best Buy succeed in creating a curated marketplace?
