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Best Buy expands in-store assortment of beauty products and electronic transportation

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Diving brief:

  • Best Buy is expanding its reach beyond indoor living. Electronics retailer adds electric transportation, outdoor living, health and wellness products to in-store assortment, the retailer announced on Friday.
  • Best Buy has added skincare technology from brands such as Foreo, Vanity Planet and PMD Beauty to nearly 300 stores, including power facial cleansers and products using LED light therapy. She also showcased her newly acquired outdoor furniture brand, Yardbird, at several of the company’s Pacific Sales Kitchen & Home stores and opened new Yardbird showrooms in key cities including Denver, Chicago and Washington, D.C. DC.
  • After adding electric transport to its e-commerce lineup last year, the retailer plans to offer electric bikes, scooters and mopeds in nearly all of its stores within the next 18 months. It is also piloting a repair service for electronic transportation products in select locations, according to the press release.

Overview of the dive:

Best Buy is going beyond its basic product offerings with this latest assortment expansion.

In addition to offering Yardbird furniture, the electronics retailer has partnered with Traeger, Weber and Ooni to feature cooking and grilling products in stores. The deployment of these products follows the acquisition of Yardbird in November 2021 for an undisclosed sum. The deal signaled the retailer’s pivot away from indoor living spaces.

Best Buy also launched its electric transportation campaign last year. This started selling electronic transportation products such as bicycles, mopeds and scooters online, with brands such as Super73, Unagi and Segway-Ninebot. From now on, this category will also be available in store.

Adding more skincare technologies to its assortment builds on a broader expansion of wellness and healthcare technologies. In March 2021, electronics retailer teams up with Apple to publish health and safety tools for older consumers through the Apple Watch. best buy current health acquireda homecare technology platform, last October for an undisclosed amount, which came about three years after its acquisition of connected health and emergency response provider GreatCall.

To like other retailersBest Buy also faced supply chain issues that reduced its Q4 2021 earnings. Its comparable Q4 sales fell 2.3%, and its operating income fell by 20% compared to last year. Best Buy’s chief financial officer, Matt Bilunas, attributed the drop in sales to inventory issues and the spread of the omicron variant of COVID-19.