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Show Notes
In this episode, we explore Best Buy's upcoming launch of a third-party marketplace in the US set for this summer. While expanding its product range is a goal, the primary focus is on building a robust advertising business. We delve into insights from Best Buy's recent earnings call, where CEO Corey Barry emphasized the interconnectedness of the marketplace and advertising strategies. We also compare Best Buy's current approach to historical attempts and other retail giants like Walmart and Amazon. Key highlights include the diversification of advertisers, impacts on brands, seller perspectives, and anticipated consumer benefits. The episode concludes with a bullish take on Best Buy's potential ad revenue growth through this marketplace initiative.
Link to Kiri's original Forbes article on this topic, published Tuesday march 11 : https://www.forbes.com/sites/kirimasters/2025/03/11/best-buys-marketplace-bet-is-really-about-ad-revenue/
Link to Pentaleap/ Colosseum strategy report: https://www.pentaleap.com/reports/h2-2024-sponsored-products-benchmarks-report
PRODUCED BY:
CHAPTERS:
(00:00) About Today's Topic
(00:20) About the Show
(00:42) Introduction and Overview
(02:06) Best Buy's Marketplace History
(04:19) Advertising Potential of Marketplaces
(06:11) Diversifying Advertiser Base
(10:17) Seller Perspectives on Best Buy's Marketplace
(13:18) Conclusion and Future Outlook
(13:48) Outro
SOCIAL LINKS:
Website: https://www.retailmediabreakfastclub.com
LinkedIn: https://www.linkedin.com/in/kiri-masters/
YouTube: https://www.youtube.com/@retailmediabreakfastclub
Apple: https://podcasts.apple.com/us/podcast/retail-media-breakfast-club/id1782187624//
Spotify: https://open.spotify.com/show/3s5MuqcrsOmQDKn3uMYJKb
