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The Number of stores of Best Buy Co Inc in United States of America (2017 - 2020)

  • The Number of stores of Best Buy Co Inc in United States of America reached 989 in 2020

  • The indicator recorded a historical decline (CAGR) of 8.66% between 2017 to 2020

The Number of stores of Best Buy Co Inc in United States of America (2017 - 2020)

Published: November 2021
Source: GlobalData

Best Buy Co Inc (Best Buy)  

Best Buy Co Inc (Best Buy) is a multinational retailer of electronic products. The company primarily offers consumer electronics, computing and mobile phones, appliances, entertainment products, home office products, and related services including consultation, design, set-up, protection plans, technical support, educational classes, delivery and installation for home theater, mobile audio, and appliances. Best Buy markets its products under Best Buy, Future Shop, Geek Squad, Magnolia, Best Buy Mobile, Dynex, Platinum, Yellow Tag, Insignia, Pacific Sales, 5Star, Rocketfish, Modal and My Best Buy brand names. It sells its merchandise at retail stores, online, mobile applications and through call centers. The company’s operations are spread across the US, Canada, and Mexico. Best Buy is headquartered in Richfield, Minnesota, the US.  

The company also offers various products including appliances, audio, video games, TV and home theatre, computers and tablets, cell phones, wearable technology, movies and music, home, garage and office, smart home, security and Wi-Fi, drones, toys, collectibles, cameras, and camcorders. BestBuy offers numerous services including appliance services, installation, setup and repair and support services. The company’s major suppliers include Apple, Samsung, Sony, Hewlett-Packard, and LG Electronics. 

Products & services  

Best Buy is a specialty retailer based in the US. The company's major products, services, and brands include the following:  

Products 

  • Consumer Electronics:  
  • TV Sets  
  • Digital Imaging  
  • Health and Fitness  
  • Home Theater Audio Systems  

Services

  • Consultation 
  • Design 
  • Set-Up 
  • Protection Plans 
  • Educational Classes 
  • Product Repair 
  • Delivery 

Business Segments 

  • Appliances 
  • Computing and Mobile Phones 
  • Consumer Electronics 
  • Entertainment 
  • Services 
  • Others 

SWOT Analysis 

Best Buy Co Inc (Best Buy) is a multi-national specialty retailer of consumer electronics, home office products, entertainment software, appliances and related services. Multiple channels selling, financial performance, inventory turnover ratio and liquidity position are the company’s major strengths, even as geographic concentration remains a cause of concern. Focus towards marketing strategies, partnerships and agreements and positive outlook for the online retail market in the US are likely to provide growth opportunities to the company. However, labor costs in the US, dependence on a limited number of vendors and mobile network carriers, and intense competition could affect its growth. 



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