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The Great Transformation: Can Best Buy’s Service-Led Model Conquer the AI Era?
Best Buy (NYSE: BBY) is undergoing a significant transformation, shifting from a hardware-centric retailer to a service and digital platform company, led by CEO Corie Barry. This evolution aims to leverage high-margin services, including Geek Squad and “My Best Buy” memberships, alongside new ventures like “Best Buy Ads” and a third-party “Marketplace,” to navigate the AI era and compete with e-commerce giants. While facing challenges from inflation and ongoing competition, the company’s future growth hinges on the success of these service-led initiatives and the AI PC upgrade cycle.