The exterior of a best buy store is seen in Chicago, Illinois on May 29, 2025.
Scott Olson | Getty images
best Buy A third-party market is launching, as it tries to bulk a variety of goods that it provides and reverses slow sales.
Shopkeepers starting on Tuesday, who visit the Best by website and app, will look at the products and brands that were not available earlier, including some non-technical items including more technology-related goods and seasonal decorations and sports storage.
The company’s online marketplace gets away from other retailers, such as Heroic And Wal-martTo rely on third -party vendors, to ship stock, sell and ship inventory and cut their sales as a commission.
“Everything we do is actually centered around the customer and their technology needs, and we see the main customer, product and supply officer Jason Bonfig, and we really see customers doing a lot of consumer electronics transactions through the markets.” “And as a result, we need to adjust to the customer.”
He said that Best Bye saw in his classification that the new platform would help to fill it. For example, he said that the company did not take a battery for cases for some old cameras or old smartphones. And it does not offer some items that complement the best purchase, such as furniture that goes around a large screen TV or cookware to use with a new kitchen tool.
With connecting those items, the marketplace has made it possible for small vendors to sell on the best by website with innovative products, when they are not enough to make or distribute the volumes required for their store yet, they said.
Best Bye Marketplace is launched at a time when its business could use a boost. Its annual sales have declined in the last three years as the company contests elections with a sluggish housing market, selective consumer expenses and a spike in technical procurement with a decline in replacement after spikes.
Company Cut its sales approach In May and said that it expects the entire year revenue from $ 41.1 billion to $ 41.9 billion. This will be the same as the annual revenue of the best purchases of $ 41.5 billion in the most recent financial year, but below the numbers posted in the leading years during and during the epidemic.
Best Bye will share its most recent income result and sales forecast on August 28.
Tariff has complicated the background for the best purchase, as high duties have added costs to consumer electronics vendors and distracting them from other priorities such as research and development, which leads to new and innovative products, a retail analyst of Jonathan Matusvski, Jefferies. He said that when a jump in technology is ahead, buy the best to win sales instead of Big-Box or online contestants.
With the launch of the platform, other retailers join the best bye to the tendency to launch or expand the third-party markets. Loves And Nordstrom started the marketplace last year. Reverse beauty There are plans to launch your launch at the end of this year. And Target Said that it will expand its existing market, Target Plus.
On Best By -earning Call in May, CEO Corey Barry described the third party market as one of the company’s strategic priorities for the year. He said that the new profit stream “is even more important in this environment” and will provide more flexibility with the limit of objects and value points.
In addition, he said that the market supports the company’s growing advertising business. The sellers can buy advertisements for their products, including the search results to pay for better placements.
Marketplaces and advertising opportunities with them are high profits for retailers, Justin McFarlen said, the managing director of the global retail group of ElixParters. He said that vendors buy products, stock, and take both the expenses of buying inventory and risk that they may have to mark unwanted objects.
Still the business model comes with risk, also, he said. For example, vendors may not have the same standard as a retailer and it may angry a retailer customers. If they send products to torn boxes, compared to missing pieces or days after expectations. And he said that retailers can flood their websites with many different categories, brands and products that they can overwhelm up with options that seem irrelevant to identify their company.
“You get accustomed to development and more until it is,” he said.
At the time of launch, Best Bye Marketplace will have around 500 vendors, Bonfig said. He said that the company vetoed the applicants and dropped them down to those who could provide high quality customer experience. He said that vendors should match the Best by Return Policy.
He said that customers can shop directly to the seller or store the best buy.
