Best Buy Courts Influencers to Tap $32 Billion Creator Market

Group 1 - Best Buy is launching an influencer program to create branded digital storefronts on its website, following the models of Amazon and Walmart [1][2] - The CEO of Best Buy, Corie Barry, expects this initiative to drive increased traffic, engagement, and sales, as the creator economy is valued at $32 billion [2] - Best Buy plans to debut a digital marketplace platform this summer, allowing third-party sellers to integrate their products into the retailer's website and app, powered by Mirakl [3][4] Group 2 - Best Buy's marketplace efforts are in response to concerns about the impact of tariffs, with management projecting that the trade war could reduce comparable sales by one percentage point [5] - Research indicates that while influencers can persuade consumers to make purchases, their influence diminishes for regular purchases, with only 1 in 8 consumers relying on influencers for frequent buying decisions [6] - A significant majority of consumers (95%) conduct additional research, such as product reviews, alongside considering influencers' opinions before making a purchase [7]