Record year for Best Buy in 2021

Electronics giant Best Buy recorded its best year ever despite declining sales in Q4. In fact, for Best Buy stores Q4/2021 was one of the worst in its history.

Last year was the first time since 2013 when Q4 store revenues were below $10 billion.

However, online sales remained on an elevated level after the pandemic and thus enabled Best Buy to reach record revenues of $51,8 billion. Online represented 34,4% of revenue for Best Buy. That was a decline from 43% in 2020.

Online sales were up by 115% from the pre-pandemic 2019.

On the other hand, store revenues were still lagging from 2019 levels by -3%.

Since 2014 Best Buy has been outperforming the market growth for every year, despite last year.