Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Originally founded in 1966 as an audio specialty store called Sound of Music, it was rebranded under its current name with an emphasis on consumer electronics in 1983. Best Buy is a publicly traded company listed on the New York Stock Exchange.
Best Buy founder Richard M. Schulze bought $20 million in shares of the electronics retailer in 2012 when the stock price had declined. Best Buy operates over 1,400 stores in the U.S. and employs over 125,000 people, generating annual revenue exceeding $40 billion.
Best Buy sells products from various manufacturers and countries. It competes with retailers like Amazon, Walmart, Target, and Costco. Though originally a brick-and-mortar business, Best Buy has expanded into e-commerce and healthcare technology to diversify its offerings.
What companies are affiliated with Best Buy?
Best Buy operates the Best Buy Mobile, Insignia, and Five Star brands. It sells cellular phones from major U.S. carriers. Hubert Joly is Best Buy executive chairman, succeeded as CEO by Corie Barry in June 2019.
Best Buy offers commissions on Geek Squad installation and repairs. It frequently runs campaigns with higher rates on categories or brands. Affiliates should tailor efforts accordingly and should not limit themselves to direct sales.
Starting October 2021, revamped Totaltech memberships are available nationwide. The membership could help offset waning consumer electronic demand through fees and purchases from members.