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With the platform’s launch, Best Buy joins other retailers that have jumped on the trend of introducing or expanding third-party marketplaces.
During an earnings call on May 29, Best Buy CEO Corie Barry confirmed customers are avoiding making big-ticket purchases amid recent economic concerns. However, she said that while customers are cautious about their spending, they are still willing to pay more for innovative products.
It’s a low-risk, high-reward way for Best Buy to better compete with Amazon and other online outlets. And it more than doubles the retailer’s product offerings.
The move will double the number of products available on Best Buy's website and app, including non-tech items like seasonal decor, musical instruments, and sports merchandise.
Head over to Best Buy to get the Crucial X10 2TB External USB-C SSD for just $163, down from its usual price of $210. That’s a discount of $47 and 22% off.
Best Buy Marketplace more than doubles the electronics retailer's online inventory, with new categories including musical instruments, kitchenware and seasonal décor.
Best Buy is just the latest company to adopt the marketplace-as-a-service strategy. Amazon has a third-party marketplace, as does Walmart, Lowe’s, Nordstrom, Kohl’s, Macy’s, and Target. (Just to name a few.)
Customers who go to Best Buy's website will be able to find products that weren't available before, as it allows items to be sold by third-party sellers, such as seasonal items, small kitchen appliances, cookware, furniture, and tech-related accessories like custom video game controllers.
It has a release date, confirmed specs, and a Best Buy page. The only thing the ROG Xbox Ally doesn't have is a price tag.