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 difference is that Amazon is an e-commerce and Best Buy is a retail business.
Amazon vs Best Buy
Amazon is more focused on e-commerce. It generally looks upon artificial intelligence, online retailing, cloud computing and the belonging areas. At the same time, Best Buy is a retail company that markets products like cell phones, electronic gadgets, movies, and related services.
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Amazon, or Amazon.com, is an e-commerce business which Jeff Bezos leads. It was started in 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, and music and also has a lot of other categories, considering that the company is operated worldwide.
Best Buy is a retail business owners James Wheeler, and Richard Schulze, founded in 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.
|Parameters of Comparison||Amazon||Best Buy|
|Motive||Amazon Co Inc is an e-commerce website that sells various categories of products and streaming services.||Best Buy is a multinational retailer focused on selling consumer electronic devices in various stores.|
|Headquarters||Amazon Co Inc has its headquarters based out of Seattle, Washington.||Best Buy has its headquarters based out of Richfield, Minnesota.|
|Accessibility||Amazon Co is more accessible because of its worldwide reach as it operates internationally in every country.||Best Buy is less accessible comparatively because it is not operated worldwide and is available in the United States of America, Canada and Mexico.|
|Revenue||Amazon 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 e-commerce.
It is one of the most popular e-commerce websites, considering it ranks among the 5 biggest companies based in the United States of America, besides the other giants’ Google, Facebook, Apple, and Microsoft.
Jeff Bezos, the wealthiest person in the world, founds Amazon.com. During a country trip from New York to Seattle, he thought about the top-class company.
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 most significant revenue.
What is Best Buy?
Best Buy is a multinational company known for being a user electronic device retailer. Best Buy was known as ‘Sound of Music’ as 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 operates internationally in Canada and Mexico. Best Buy was also used in China until the company worked with Five Star.
Best Buy is the most popular retailer of consumer devices and takes place in the most significant revenue attainers in the United States of America.
Main Differences Between Amazon and Best Buy
- Amazon is an e-commerce company focusing on artificial intelligence, e-commerce and streaming services. At the same time, Best Buy is a retail company that focuses on consumer retail.
- Amazon was founded by Jeff Bezos, whereas James Wheeler and Richard Schulze founded Best Buy. The CEO of Best Buy is Hubert Joly.
- Amazon is more accessible than Best Buy as it operates worldwide and is a popular e-commerce website. Meanwhile, Best Buy is less accessible as it does not use internationally outside the USA, except in Canada and Mexico.
- Amazon is based out of Seattle, Washington. At the same time, Best Buy is based in Richfield, Minnesota.
- Amazon was founded in 1994 and made around 177 billion in revenue. Whereas Best Buy was founded in 1966 and made around 46 billion.
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Chara Yadav holds MBA in Finance. Her goal is to simplify finance-related topics. She has worked in finance for about 25 years. She has held multiple finance and banking classes for business schools and communities. Read more at her bio page.