Revenue per store and square foot of Best Buy in the United States 2018-2023

Best Buy’s revenue per store and square foot in the United States fluctuated from FY 2018 to FY 2023. The company's FY 2023 revenue per store stood at around 43.76 million U.S. dollars with around 1,144 U.S. dollars in sales per square foot.

Increased revenues from less stores and square footage

    Although Best Buy’s total number of domestic and international stores have been decreasing in recent years, the company's revenue per store has been increasing. In line with fewer stores, Best Buy has also witnessed rising revenues per square foot as their overall square footage continues to decline in both domestic and international outlets.

How well can Best Buy deal with COVID-19 store impacts?

   Best Buy generates the majority of its revenue in the United States from computer, mobile phones, and consumer electronics sales. These three product categories make up almost 80 percent of Best Buy's revenue in the United States. Most consumers in the United States expect their consumption of consumer electronics to remain relatively the same despite the coronavirus outbreak, with only a small amount expecting a decrease in their consumption. Best Buy’s increasing online revenue and online revenue as a share of total revenue in recent years puts the company in the position to compensate less visits to physical stores, and therefore decreasing store sales, through the growth of e-commerce revenue.