Best Buy launches third-party marketplace

Best purchase It releases a third -party market because it tries to reversed its product variety and slower sales.

Starting on Tuesday, shoppers who go to Best Buy’s website and application will see products and brands that are not available before, including products and brands that are not available before, special video game controllers and some non -technology products, including seasonal decor and sports collections.

The company’s online market place, other retailers Amazon And WalmartThird -party sellers to stock, sell and send and rely on taking sales in the form of a commission.

“Everything we do is really focusing around the needs of customer and technology, and we see that customers are doing a large number of consumer electronics transactions through markets.” He said. “And as a result, we need to make adjustments where the customer is.”

Best Buy said he realized that he would help fill the new platform in the product range. For example, the company said that the company did not carry batteries for cases for some old cameras or old smartphones. And to use it with a new kitchen device, it did not offer some products that have completed the best purchase purchases such as furniture circulating with large screen TV or pot.

In addition to adding these items, he added that Best Buy is possible for Best Buy to sell on his website when they are not large enough to make or distribute the volume of smaller sellers with market place and innovative products.

Best Buy’s Marketplace is released at a time when his business can use a support. After an increase in technology purchases during Covid pandemi, the company has decreased in the last three years because the company claimed a stagnant housing market, selective consumer expenditures and a decline in device changes.

The company cut off the sales view in May and expects full year income to vary between $ 41.1 billion and $ 41.9 billion. This is similar to Best Buy’s annual income of $ 41.5 billion in the last financial year, but below the numbers he published in the past years until pandemiye and pandemiye.

Best Buy will share the latest earnings results and sales forecasts on August 28th.

Jeferveries retail analyst Jonathan Matuszewski said that higher tasks added costs for consumer electronics sellers and higher tasks added costs for consumer electronics vendors, and that the tariffs moved away from other priorities such as research and development that leads to new and innovative products, and the tariffs are the best acquisition floor. Best Buy said he tends to earn sales rather than a big box or online competitors when there was a forward step in technology.

With the launch of the platform, Best Buy joins other retailers who jump to the tendency to start or expand third -party markets. Lowe’s And Nordstrom started market places last year. Ulta Beauty He plans to start this year. And Aim He said he would expand Target Plus.

In May, Best Buy described CEO Corie Barry’s third -party market as one of the company’s strategic priorities for the year. He said that the new snowfall was “even more important in this environment” and will provide more flexibility with the range of product and price points.

He also said that the market supports the company’s growing advertising business. SELLERS can buy ads for products, including payment for better placement in search results.

Justin Macfarlane, General Manager of the Global Retail Group of Alixpartners, said that market places and advertising opportunities that come with them have higher profits for retailers. The sellers purchase, send products instead of retailers, and receive the risk of purchasing inventory and they may need to mark undesirable items.

Nevertheless, he said that the business model came with risks. For example, if the sellers may not have the same standards as a retailer and send products in torn boxes, they may annoy the customers of a retailer later. And he said that retailers could leave their websites under so many categories, brands and products and drown their customers with options that look irrelevant to the identity of their companies.

“You’re dependent on growth and more than you don’t have any more,” he said.

Bonfig said that Best Buy will have approximately 500 sellers at the launch. He said that the company has reviewed the applicants and reduced them to those who can provide a high -quality customer experience. Authorized, sellers should match Best Buy’s return policy, he added.

Customers can return purchases directly to the seller or the best purchase stores.