Difference Between Amazon and Best Buy (With Table)

Amazon and Best Buy are two kings in business. They are two of the most popular companies that offer employment to millions of people throughout America and other parts of the world. Both of these companies are based out of the United States of America and are spread out globally because of their popularity. The specific difference between the two is that Amazon is an e-commerce and Best Buy is a retail business. 

Amazon vs Best Buy 

The difference between Amazon and Best Buy is that Amazon is more focused on e-commerce. It generally looks upon artificial intelligence, online retailing, cloud computing and the belonging areas. Whereas Best Buy is a retail company that markets products like cell phones, electronic gadgets, movies, and various related services. 

Amazon or Amazon.com is an e-commerce business which is led by Jeff Bezos. It was started back in the year 1994 and has over a million employees now. The company began by selling books and now sells everything imaginable, like clothes, furniture, appliances, food, electronic gadgets, music and also has a lot of other categories, considering that the company is operated worldwide. 

Best Buy is a retail business that was founded by owners James Wheeler and Richard Schulze in the year 1966. Today, Best Buy is one of the biggest corporations in terms of revenue and has thousands of stores all over the USA, Canada and Mexico. Best Buy inaugurated its retail store by marketing audio items. Currently, they have focused their marketing on consumer electronics.

Comparison Table Between Amazon and Best Buy 

Parameters of ComparisonAmazonBest Buy
MotiveAmazon Co Inc is an e-commerce website focused on selling various categories of products and streaming services.Best Buy is a multinational retailer which is focused on selling consumer electronic devices in various stores.
HeadquartersAmazon Co Inc has its headquarters based out of Seattle in Washington.Best Buy has its headquarters based out of Richfield in Minnesota.
AccessibilityAmazon Co is more accessible because of its worldwide reach as Amazon is operated internationally in every country.Best Buy is less accessible comparatively because it is not operated worldwide and available in the United States of America, Canada and Mexico.
RevenueAmazon Co makes around the estimated revenue of 177 billion.Best Buy makes less revenue as compared to Amazon. Best Buy makes around 46 billion.
Nature of Optimism Amazon Co is a more popular e-commerce website and is loved by consumers in the United States of America and worldwide. It has more growth potential than Best Buy because Amazon has a digital presence.Best Buy is doing well, considering it is a multinational company. Still, it is less popular than Amazon as the latter company operates on a website and aligns with today’s buying culture.

What is Amazon?

Amazon.com is an American multinational company based out of Seattle. It works for artificial intelligence, cloud computing, digital streaming and most specifically, e-commerce. It is one of the most popular e-commerce websites, considering that it ranks among the 5 biggest companies based in the United States of America besides the other giants’ Google, Facebook, Apple, Microsoft. Amazon.com is founded by Jeff Bezos, who is the richest person in the world. The top class company was thought about by him during a country trip from New York to Seattle.

Bezos founded Amazon out of his garage and turned it into something magical. The company that originated by selling books online is now known for marketing video and audio streaming and a variety of products and services all around the world. Amazon is the largest sales company in the world and makes the biggest revenue. 

What is Best Buy?

Best Buy is a multinational company that is known for being a user electronic device retailer. Best Buy was known as ‘Sound of Music’ as it was an audio speciality store earlier. The company is based out of Richfield, Minnesota. Later in the year 1983, the company was rebranded to its current brand name and focused its product line, especially on consumer devices.

Best Buy sells carrier services in the United States of America and also operates internationally in the countries Canada and Mexico. Best Buy also used to operate in China until the company was working with Five Star. Best Buy is the most popular retailer in consumer devices and takes place in the largest revenue attainers in the United States of America. 

Main Differences Between Amazon and Best Buy 

  1. Amazon is an e-commerce company that focuses on artificial intelligence, e-commerce and streaming services. Whereas Best Buy is a retail company that focuses on consumer retail.
  2. Amazon is founded by Jeff Bezos, whereas Best Buy is founded by James Wheeler and Richard Schulze. The CEO of Best Buy is Hubert Joly.
  3. Amazon is more accessible than Best Buy as it operates worldwide and is a popular e-commerce website. Meanwhile, Best Buy is considerably less accessible as it does not operate internationally outside the USA, except in Canada and Mexico. 
  4. Amazon is based out of Seattle, in Washington. Whereas Best Buy is based out of Richfield, Minnesota.
  5. Amazon was founded in the year 1994 and makes around 177 billion of revenue. Whereas Best Buy was founded in the year 1966 and makes around 46 billion.

Conclusion

In conclusion, Amazon Co and Best Buy are two prominent multinational companies in the industry. While Amazon is a popular company and is known worldwide because of its accessibility and dynamic characteristics. While Best Buy works in the USA as well as the neighbouring countries of Canada and Mexico. Amazon has become the most preferable e-commerce website around the world and has more potential for growth as compared to Best Buy.

Although both of these world-class companies are known for their specific signature products and their retail lines. These companies are an inspiration for future entrepreneurs who want to share the list with influential businessmen like Jeff Bezos, James Wheeler and Richard Schulze.

References

  1. https://onlinelibrary.wiley.com/doi/abs/10.1111/joie.12154
  2. http://scindeks-clanci.ceon.rs/data/pdf/2334-735X/2018/2334-735X1804065M.pdf
x
2D vs 3D