Owing to the growing demand and eventual spending on technology and consumer electronics, Best Buy’s revenue has seen a substantial soar in the last year. Best Buy Ads is a new iteration of the company’s in-house media business that provides additional services and a greater reach for businesses wishing to interact with customers.
Best Buy CEO Corie Barry, said –
“Best Buy’s relevance, customer relationship, and first-party data have grown along with customers’ technology needs and our ability to meet those needs. These are all great examples of value we can provide to our vendor partners that many other retailers cannot.”
During the pandemic, the rise in eCommerce equipped Best Buy with a wealth of data on buyer preferences and behavior.
Best Buy can run advertising on other publisher sites in addition to its own media holdings, such as its app, website, or a row of television screens in a physical store. Brands who want to work with the store for advertising purposes don’t have to sell their products or services via them.
Best Buy’s chief marketing officer, Frank Crowson, noted that the business’s expertise of shoppers who are drawn to technology helps the company generate audiences of consumers who are interested in things like movies, gaming, and cooking.