Best Buy is one of the most popular tech retailers for products like cell phones, laptops, gaming equipment, appliances, and much more!
But, you may be wondering what market Best Buy targets and what age of consumers are responsible for a majority of sales and revenue at Best Buy.
Look no further! Here is everything you need to know about the market that Best Buy targets!
What Is Best Buy’s Target Market In 2021?
Best Buy’s primary target market is Millennials with low-to middle-class socioeconomic status as of 2021. Additionally, Best Buy is focusing on catering more towards women, as men make up a large percentage of customers. Almost all of Best Buy’s revenue comes from sales in the United States.
Keep on reading to learn what products are most popular at Best Buy and what time of year is busiest at the tech retailer!
What Age Demographics Does Best Buy Target?
The primary age bracket that Best Buy targets is the Millennial generation or those between 21 and 40 years old. Best Buy targets this age bracket because they are pretty familiar with technology.
Additionally, Millennials are particularly interested in the latest technology available and have the money to spend on such products. Best Buy’s target market is not exclusively set on Millennials, however.
For example, with Best Buy’s Geek Squad program, customers can have all their questions about products answered, in-home IT support, and recommendations based on customer preferences.
Finally, to help people who are not technologically advanced, Best Buy’s staff is trained to answer any questions you may have!
What Salary Bracket Does Best Buy Target?
Best Buy strives to offer the lowest possible prices on the latest tech and accessories.
With that, Best Buy targets middle to low-income families because the tech company believes their low prices appeal to these consumers.
Additionally, Best Buy tries to cater to consumers in these salary brackets during the holidays, as Best Buy drops their prices even lower during Black Friday and Christmas.
Even though Best Buy primarily targets low and middle-income consumers, the company’s business structure is designed to appeal to a mass market.
What Gender Shops At Best Buy More Often?
In the past, Best Buy’s merchandise drew in more male consumers than female ones.
Products like video games, gaming accessories, and TVs were among the most in-demand purchases among male consumers.
However, Best Buy is focusing on drawing in more female customers. In particular, Best Buy has seen a rise in female customers in the past few years.
Some of the most popular products bought by female customers at Best Buy include laptops, office accessories, and camera equipment.
What Time Of Year Is Busiest At Best Buy?
The holiday season, Black Friday and Christmas, are easily the most popular times customers shop at Best Buy.
The tech company advertises the slogan “Holiday excitement starts here” during their holiday commercials.
Best Buy offers some of the market’s lowest prices on the hottest tech gear during the holiday season.
The extremely low prices draw in several customers both in-store and online, making Black Friday and Christmas the time when Best Buy generates most of their revenue.
Where Is Best Buy’s Consumer Base Located?
Best Buy operates over one thousand stores worldwide as of 2021. However, almost 90% of Best Buy’s revenue is generated in the United States.
Because nearly all of Best Buy’s revenue comes from one market, the company focuses most of its attention on the domestic market in the United States.
What Products Are Most Popular Amongst Best Buy’s Consumer Base?
Currently, computing equipment and mobile phones make up the majority of Best Buy’s total revenue. With that, Best Buy carries the industry’s newest smartphones and laptops.
Additionally, about 20% of Best Buy’s income comes from sales of appliances, entertainment equipment, and tech services like in-home setup. Even with the rise of popularity of the internet,
Best Buy’s revenue mostly comes from brick and mortar (in-store) sales, which is not common amongst retail stores in today’s economy.
What Products Does Best Buy Sell?
Best Buy carries almost anything technology-related that you can think of! For example, some of the departments that Best Buy advertises on their website include:
- TV and home theater
- Computers and tablets
- Cell phones
- Audio equipment
- Video games
- Movies and music
- Car electronics
- Wearable technology
- Home and office
As you can see, Best Buy has anything you could need to add the latest technological advancements to your home, car, or office!
If you cannot find what you are looking for at your local Best Buy store, the tech retailer offers easy online shopping.
For example, Best Buy offers convenient same-day curbside pickup for online orders as well as free shipping if you want your products delivered to your house.
What Services Does Best Buy Offer?
If you need any help with your latest purchase from Best Buy, the tech retailer provides several services to assist you with setup or learning how to use your new purchase.
For example, some of the services Best Buy offers their customers include:
- Apple authorized service and repair
- Professional TV mounting
- Home Wi-Fi setup
- Appliance delivery and setup
- Smart doorbell installation
These services are only a small list of the available services Best Buy offers. To view their entire list of services, visit the Best Buy website or give your local Best Buy store a call!
Best Buy primarily targets the Millennial generation, or people between the ages of 18 and 40, because they prefer to have the latest tech gear, like smartphones and computers, while older generations do not.
Additionally, most of Best Buy’s revenue comes from computers and mobile phones sold both in-store and online. The remainder of Best Buy’s revenue is generated from appliances, entertainment equipment, and services.