What: Best Buy Canada plans to open 167 small-format stores by the end of the year in partnership with Bell Canada.

Why it is important: This expansion strategy aims to increase Best Buy's presence in smaller and mid-size communities across Canada, providing easier access to consumer tech products and services. The partnership with Bell Canada allows Best Buy to leverage Bell's resources for store operations and labour, potentially boosting both companies' market reach and customer base.

Best Buy Canada, a subsidiary of Minnesota-based Best Buy, is set to open 167 Best Buy Express-branded small-format stores by the end of 2024 through a partnership with Bell Canada. The first store opened in British Columbia, with many more expected in communities previously lacking a Best Buy presence. These stores will offer a curated tech assortment, Geek Squad services, and telecom services from Bell, Virgin Plus, and Lucky Mobile. They will also support buy online, pick up in-store services for products available through Best Buy’s fulfillment network. Bell Canada will handle store operating and labour costs, while Best Buy will manage the tech assortment, supply chain, marketing, and e-commerce. This expansion is part of Best Buy's strategy to increase its market presence despite recent revenue challenges due to high inflation and lower consumer demand for tech products.

Best Buy Canada to open 167 small-format stores