Best Buy is a retail store that sells consumer electronics and appliances and much different related merchandise and provides technical repair services and plans. As of May 23, 2022, it is worth approximately 16.3 billion US dollars. Lets know about Best Buy Headquarters And Locations.
Best Buy has 1 036 locations within the United States and has its headquarters in Richfield, Minnesota. It has 164 locations in Canada as well. In addition, best Buy has several locations both within and outside the United States. More information on their locations will be mentioned below.
Best Buy Locations Within The US
Top 3 States With The Most Best Buy Locations Within The US
California has the most significant number of locations, with 143 locations, which makes up 13% of the total number of Best Buy locations in America. There is one store for every 276 307 people, with 39.51 million people.
The state with the second most locations is Texas, with 106 locations. Texas has a total population of 29 million people. This means that there is one store for every 273 547 people. Texas is 10% of Best Buy’s total number of locations.
Florida is third with 6% of Best Buy’s total number of locations, equivalent to 65 locations. Florida has 21.4 million people, which makes the ratio 1 location to 330 430 people.
This information is from May 22, 2022.
Top 10 Cities With The Most Best Buy Locations Within The US
The following are the top 10 cities within the US that have the most Best Buy locations.
- Houston, Texas, has a total of 12 locations
- San Antonio, Texas, has a total of 7 locations
- Miami, Florida, has 6 locations
- New York, New York, has 6 locations
- Oklahoma City, Oklahoma, has 6 locations
- Jacksonville, Florida, has 5 locations
- Austin, Texas, has 5 locations
- Aurora, Colorado, has 5 locations
- Las Vegas, Nevada, has 5 locations and
- Cincinnati, Ohio, has a total number of 5 locations
The US States Without Any Best Buy Locations
Best Buy has no locations at all in the following Territories and States:
- American Samoa
- Guam
- US Virgin Islands and
- Northern Mariana Islands
Best Buy Locations In Canada
Top 3 Provinces With The Most Best Buy Locations In Canada
Ontario has the most Best Buy Locations, with 71 locations; this is 43% of Canada’s total number of locations. The total population in Ontario is 14.4 million people, making the ratio 1 location to 203 478 people.
British Columbia comes second with a total of 29 locations. It has approximately 5 million people, making it 173 103 people per 1 Best Buy location. This means that it has 17% of all Best Buy locations within Canada.
Third is Alberta, with 24 Best Buy locations. It has 14% of all Canadian locations. Its total population is approximately 4.3 million people making the ratio 1 Best Buy location to 181 083 people.
Top 10 Cities With the Most Best Buy Locations In Canada
The following are the top 10 cities within the US that have the most Best Buy locations:
- Calgary, Alberta, has a total number of 11 locations
- Edmonton, Alberta, has a total number of 7 locations
- Toronto, Ontario, has 5 locations
- Montreal, Quebec, has 4 locations
- Vancouver, British Columbia, has 4 locations
- Brampton, Ontario, has 4 locations
- Langley, British Columbia, has 3 locations
- Winnipeg, Manitoba, has 3 locations
- London, Ontario, has 3 locations and
- Surrey, British Columbia, has a total of 3 Best Buy locations.
The Canadian States Without Any Best Buy Locations
Best Buy has no locations at all in the following Territories and Provinces:
- Yukon
- Nunavut
- Northwest Territories
Best Buy Failed Locations And Why They Failed
China
Best Buy entered the market in 2006 and tried to replicate its American work within the Chinese market. Unfortunately, it only had a 1.8% market share after six years. In 2011, Best Buy closed all of its branded stores. Best Buy failed because of 3 main reasons.
- Its products were being replicated, and the counterfeits were sold at a lower price.
- Its Chinese customers were susceptible to price, and Best Buy sold products that its competitors sold at a more affordable price.
- Best Buy tried to imitate its American ways, which caused its prices to rise considerably. Best Buy did not utilize the already in use methods of retail, which led to its failure.
Europe
Best Buy entered the European market in 2010, but by 2012, it had failed. Analysts claim that Best Buy failed in the UK because it announced its plans too early, which gave its competitors time to respond. More reasons why Best Buy failed in Europe include:
- It presented itself as too American and thus did not resonate with its new consumers. The European customers could not identify with the American products or services.
- Best Buy entered a market that already had well-established brands as its competitors. The electrical market in the UK was also too small for them to grow and become more well known by people.
- Europeans aren’t like Americans; they prefer to buy electronics a few times a year from smaller stores, not from major stores like Best Buy.
Mexico
Best Buy entered the Mexican market between 2007 and 2009, and after 13 years, it closed them all down at the end of 2020. This was due to the coronavirus pandemic. It closed down all 41 stores by December 31, 2020. Best Buy claims that the pandemic affected their gains severely and that they wanted to come up with new strategies. However, some analysts consider that Best Buy was unable to stay in the market because Best Buy had a tough time adapting to the Mexican market due to the following reasons:
- Pricing was more competitive within the Mexican Market
- The competition was high and
- Strong branding is needed, which Best Buy did not have.
Conclusion
Best Buy has many locations within the United States to satisfy its customers’ needs and wants within the electronic market. Its extensive retail stores make it easier to find its products and easily have the products in stock. Its services and products fit the US market well. Best Buy has been conveniently located for the ease of its valued customers.
Frequently Asked Questions
- What are some of the products sold by Best Buy?
It sells everything electronic from kitchen appliances such as espresso makers and dishwashers to electronic gadgets like smartphones, LED flat screens, and wireless headphones. Best Buy also provides technical repair services.
- Who are Best Buy’s major competitors?
Best Buy’s competitors include Amazon, Costco, Target, Walmart, and Alibaba Group Holding Limited.
- Who is the CEO of Best Buy?
Corie Barry.
