Best Buy is taking a page from the playbooks of Google and Amazon, announcing this week that it has launched its own service to sell online ads on search results across the web.
Best Buy Ads, the new in-house media company, will sell traditional search ads and sponsored product listings across Best Buy’s online marketplace, as well as offsite and in-store.
The service will focus largely on consumer electronics and related products, staying in line with the products already offered by the company.
While the announcement may seem odd, it is clear that e-commerce is becoming a major part of today’s retail market, and advertising is a major component of that.
Best Buy is also not the only company to take a similar step. In October 2021, Lowe’s announced it was opening its own advertising company – not the mention that Amazon drives huge amounts of revenue through its ad platform.
As for what makes this platform unique, Best Buy is highly emphasizing its direct connection to customers through their long-established brand:
“We interact with our customers three billion times a year — in our stores, in their homes, and online. These relationships last longer and run deeper than most. Knowing our customers on this level means we can help other brands cut through the clutter with advertising that won’t waste our customers’ time.”
The announcement continues:
“We have spent the past few years building a business that can analyze the data from our customer relationships and recommend relevant ways to connect with customers based on cutting-edge data science and analytics.”
For more information about Best Buy Ads, read the complete announcement here.