Overall and online comparable sales growth of Best Buy 2018-2024

Best Buy’s sales growth has decreased the last fiscal year, from 10.3 in FY 2023 to 7.1 in FY 2024. The growth in Best Buy’s sales is mainly driven by online/e-commerce sales with the segment seeing 144.4 percent comparable online sales growth in FY 2021, up from the 17 percent in FY 2020. 

Best Buy’s rising online sales

    The strong growth of Best Buy’s e-commerce sales in the last few years has led to an increase in the segment’s share of the company’s overall revenue. In the most recent financial year online sales made up about 33 percent of Best Buy’s revenue, a share that the company is looking to increase further in the upcoming years with the goal of gaining a higher overall market share in the U.S. e-commerce market. Today Best Buy still generates the majority of its sales from brick and mortar store sales.

Best Buy stores

   With over 1,000 stores in operation throughout the United States, the country is home to the majority of Best Buy stores. In line with the general decline in international stores over time , the number of Best Buy’s domestic stores has decreased, as well as their overall square footage of outlets. Closures of Best Buy’s Mobile stand-alone stores have also contributed to the company’s decreasing store count.