Best Buy partners with Mirakl to 2X product assortment with launch of marketplace
Best Buy, a trusted leader in consumer tech, expands beyond electronics to sporting goods, outdoor living, musical instruments and more
Today marks a major leap forward in Best Buy's eCommerce strategy with the launch of its new third-party marketplace. This new digital platform allows the electronics retailer to introduce a wider assortment of products and innovative brands, furthering Best Buy's commitment to its customers.
Powered by Mirakl, the Best Buy Marketplace marks the largest expansion ever of Best Buy’s product assortment, seamlessly integrating new products from sellers across all digital experiences, allowing customers to explore hundreds of new brands and categories like seasonal décor, automotive tech, office and home, and movies and music, with licensed sports merchandise coming soon.
"Marketplace is making BestBuy.com and our app feel more personalized, more dynamic and more fun to shop than ever before," Best Buy chief marketplace and eCommerce officer Frank Bedo said, emphasizing the new opportunities for discovery.
This new marketplace is a key part of Best Buy's plan to provide an expanded and curated selection, bringing customers more products and new categories more quickly, leveraging their experience from the launch of their Canadian marketplace operation in 2016 to ensure a seamless experience in the U.S.
By launching a Mirakl-powered marketplace, Best Buy and their customers will be able to take advantage of:
Expanded assortment: The marketplace will double the number of products available on BestBuy.com, introducing new categories like licensed sporting goods with Fanatics Fan Shop, a wider selection of kitchen must-haves, expanded indoor and outdoor living products and musical instruments. Movies are also making a return!
Seamless integration: The Mirakl platform allows third-party sellers to integrate their products directly into BestBuy.com and the Best Buy App, giving them access to a large and loyal customer base.
Omnichannel experience: Customers can conveniently return marketplace purchases at any Best Buy store. In addition, store associates will be able to help customers build an order online from within the store, providing a truly integrated shopping experience.
Driving growth through a curated marketplace
Best Buy's chief marketplace and eCommerce officer, Frank Bedo, expressed excitement about the new platform.
“Our customers have always looked to us to bring excitement and inspiration in ways only technology can,” Bedo said. “With marketplace, we’re able to give them not only more of the latest technology, but a massive new collection of products outside of the tech space so we can truly offer the full experience they need.”
Best Buy’s "curated, tailored marketplace" is designed to provide a deeper assortment of products that complements Best Buy's existing offerings without needing to own the inventory. This strategic move allows Best Buy to meet more of its customers' needs and capture latent demand.
The future of retail tech
As more retailers embrace the marketplace model, Best Buy is well-positioned to lead the way in the consumer electronics and related sectors. The new platform not only enhances the customer experience, but also creates a new avenue for growth by leveraging Best Buy's strong eCommerce flywheel and advertising capabilities.
Sellers and brands can apply to be part of the new platform at BestBuy.com/Marketplace. Retailers can learn more about the platform powering Best Buy's new marketplace, here.
