Best Buy to launch online marketplace in summer 2025
The third-party digital marketplace vertical is gaining a significant new entrant.
Best Buy Co Inc. plans to roll out a new digital platform called Best Buy Marketplace in summer 2025. The consumer electronics giant is partnering with Mirakl, a software platform enabling digital marketplaces, to allow third-party sellers to seamlessly integrate their products into its e-commerce site and app.
"We’re incredibly excited to roll out Best Buy Marketplace later this year and provide our customers an expanded assortment of products, new categories and the ability to bring them emerging tech more quickly," said Frank Bedo, chief marketplace and e-commerce officer at Best Buy. "Not only will we be able to introduce new brands, but these sellers will also have the opportunity to get in front of a much larger audience of shoppers alongside other reputable brands."
How it works
Interested sellers can apply to participate via a link on the Best Buy site. Once approved, they have access to integration tools and dedicated account management that will enable them to set up a digital marketplace storefront and start selling goods.
Participating sellers will be able to use Best Buy’s omnichannel retail capabilities, such as limited-time and quantity product drops, and take part in the retailer’s promotional sales. They will also have access to Best Buy Ads, the company’s in-house media company designed to help its suppliers provide shoppers with targeted, timed promotional messages based on its customer relationships and insights.
Digital marketplace model establishes itself
Large online marketplaces are growing in popularity, with 82% of shoppers recently surveyed by Omnisend planning to purchase gifts on large online marketplaces during the 2024 holiday season.
[READ MORE: Large online marketplaces are popular holiday shopping option]
Although eBay could be considered the first successful online marketplaces and it then spread to mass merchandise and department store retailers such as Amazon and Walmart, the model has since become widely adopted across verticals. Marketplaces are now operated by diverse retailers such as Kroger and L’Oreal, with Lowe’s planning to launch one this year as well.
