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Best Buy’s sales have ballooned in the past year as people spend more on technology and consumer electronics. Now, the retailer is placing a bigger bet on another revenue stream: advertising.
The company is debuting Best Buy Ads, an updated version of its in-house media business that offers more services and wider reach for brands looking to connect with shoppers.
“Best Buy’s relevance, customer relationship and first-party data have grown along with customers’ technology needs and our ability to meet those needs,” Best Buy CEO Corie Barry told analysts during a November earnings call.