Best Buy US

Founded by Richard M. Schulze and James Wheeler as an audio speciality store called “Sound of Music” in 1966, electronics giant Best Buy got it’s name thanks to a tornado.

When the Roseville, Minnesota Sound of Music store was hit by a tornado in 1978, the roof and showroom were destroyed, but many items in the storeroom were salvageable.

Schulze decided to have a “Tornado Sale” of the excess stock in the store’s parking lot, advertising “Best Buys” on everything. The store made more during the four-day sale than it did in a typical month - and the name stuck!

Goflow Helps You Optimize Ecommerce Sales on Best Buy Marketplace

Over the years, Best Buy evolved from an audio equipment specialist to a high-volume, low-price electronics retailer. If you operate in niches such as computers, tables, cameras, video games, smart home devices, appliances or TVs, it’s a great option for expanding your multichannel ecommerce business.

Best Buy recently joined Amazon and Walmart in launching a third-party US marketplace, estimated to be worth hundreds of billions of dollars in sales.

Best Buy previously had an online marketplace about a decade ago, but closed down its operations after five years due to operational challenges and a poor economic climate.

This time, Best Buy is partnering with enterprise marketplace tech company Mirakl - who have worked with several other major retailers such as Kroger, Nordstrom and Macy’s. The new marketplace will have a stronger digital infrastructure, with a much more targeted and strategic offering.

The marketplace will allow Best Buy to introduce new brands, and allow sellers to get in front of a larger audience of shoppers.

Smart Inventory Management Features Give You the Competitive Edge When Selling

When you join Best Buy Marketplace, you can grow your reputation and leverage the brand trust of an already existing major retail company. You’ll have access to Best Buy Ads and partnership opportunities, allowing you to grow your brand.

Also, your Best Buy Marketplace account integrates with Goflow, offering you a powerful suite of smart inventory management features. Goflow is designed to help you manage your inventory and make smart, strategic stocking decisions, so you never oversell or run out of in-demand products.

You can automatically track any updates made to your products, then instantly sync those updates back to your store listing in real time. Plus, you’ll be able to view profit margins, sales totals, return rates and other crucial metrics at a glance.

Whether you’re selling exclusively on Best Buy Marketplace or it’s just one part of a larger ecommerce strategy, Goflow will help you maximize your success.