Report: Best Buy expanding private-label electronics

New York City Best Buy is expanding its private-label electronics business as it seeks to gain a competitive advantage over Wal-Mart and other rivals, according to the Wall Street Journal.

The report said that Best Buy believes it can do well in private-label electronics by using the customer feedback it collects to make simple innovations to established electronics items. Best Buy currently sells hundreds of electronic products under five house brands.

Sales of Best Buy private-label electronics, which include a global-positioning system with Google search capabilities and a high-definition radio receiver that displays the names of songs, rose 40% during the past fiscal year, which ended Feb. 28, according to the Journal.