LATEST DEVELOPMENT
Best Buy announces spring launch of influencer program allowing creators to build branded digital storefronts on company website, joining Amazon and Walmart in tapping the creator economy.
INDUSTRY TALK
"Influencers and creators will be able to build their own branded digital storefronts on Best Buy's website, which we expect to drive increased traffic, engagement, and sales."
QUARTZ
BY THE NUMBERS
Market context includes:
$32B projected creator economy value by end of 2025
9B+ same/next-day Amazon deliveries in 2024
2-3% of Best Buy products directly imported
2 major competitors already with established programs
Unknown follower requirements for participation
COMPETITIVE LANDSCAPE
Program comparison:
Walmart: Open to all US-based creators regardless of follower count
Amazon: Requires "meaningful" social media following
Best Buy: Details still emerging on qualification requirements
Platform compatibility varies across programs
Commission structures not yet disclosed
BUSINESS STRATEGY
Best Buy's broader plans include:
Launching U.S.-based marketplace
Expanding video content
Offering wider product selection
Creating new profitability streams
Mitigating potential tariff impact
THE BOTTOM LINE
As competition intensifies in retail and potential tariffs threaten to increase consumer prices, Best Buy's dual strategy of launching both a marketplace and influencer program signals its commitment to digital transformation in the fight against e-commerce giants.