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.
Key Takeaways
- Amazon is an online marketplace, whereas Best Buy is a brick-and-mortar retail store.
- Amazon offers a wider range of products, while Best Buy mainly focuses on electronic products and appliances.
- Amazon offers faster and cheaper delivery, while Best Buy provides the option of in-store pickup for customers.
Amazon vs Best Buy
Amazon caters e-commerce, cloud computing, computer hardware and artificial intelligence, while Best Buy is less varied as it is mainly a retail industry. Amazon is more accessible while Best Buy is less accessible. Platform for Amazon is digital, and for Best Buy is brick and mortar.
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.
Comparison Table
| 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.
- https://onlinelibrary.wiley.com/doi/abs/10.1111/joie.12154
- http://scindeks-clanci.ceon.rs/data/pdf/2334-735X/2018/2334-735X1804065M.pdf
Last Updated : 11 June, 2023
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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.
Best Buy seems to be lagging behind in terms of accessibility and revenue when compared to Amazon. It’ll be interesting to see how they plan to compete against Amazon’s extensive reach and superior revenue.
Yes, it’s a tough competition, especially considering how Amazon has become a household name across the globe for its e-commerce services.
I’m skeptical about the future of Best Buy given that Amazon has such a wide reach and significantly higher revenue. It’s hard to see how Best Buy can compete in the long run.
I understand your concerns, but Best Buy’s specialization in consumer electronics could still carve out a niche for them in the market.
Amazon’s dominance is undeniable, but Best Buy’s physical presence in stores could still play to their advantage in certain markets.
Both companies have their own unique strengths and weaknesses. It’ll be interesting to see how they continue to innovate in response to changing consumer demands.
It’s interesting to see how both Amazon and Best Buy have evolved over the years. Amazon has clearly adapted to the digital age, while Best Buy has focused on consumer electronics and appliances. Both have their advantages.
Absolutely, both companies have carved out their own niche in the market and have been successful in their own right.
Amazon’s revenue dominance is quite evident, but we shouldn’t overlook Best Buy’s market position, especially in the realm of consumer electronics.
True, Best Buy’s specialization in consumer devices could be a key differentiator, even against Amazon’s vast reach.
While Amazon’s digital presence gives it an edge, Best Buy’s focus on consumer electronics still holds merit. It’ll be fascinating to see what the future holds for both companies.
The comparison table provides a clear overview of the differences between Amazon and Best Buy. It’s evident that Amazon’s digital platform gives it a significant edge in today’s market dynamics.
Absolutely, Amazon’s e-commerce focus has propelled its growth, while Best Buy may need to adapt its strategies to remain competitive.
It’s a challenging landscape for both companies, and their ability to adapt will be crucial for their success.
Amazon’s wide range of products and superior delivery options are definitely its strengths. Best Buy might need to rethink its strategies to stay competitive in the evolving market.
Absolutely, Amazon’s convenience and variety make it a go-to for many consumers nowadays.
I agree, but Best Buy’s focus on in-store pickups also has its appeal, especially for those who prefer hands-on experiences with their purchases.
It’s crucial for both Amazon and Best Buy to capitalize on their respective strengths while addressing their weaknesses. The competition between these giants will continue to shape the retail landscape.
Absolutely, the evolving nature of consumer preferences and market dynamics will push both companies to adapt and innovate.
Indeed, the battle between e-commerce and physical retail will be fascinating to witness in the coming years.
While Amazon’s digital prowess is undeniable, Best Buy’s longstanding position in physical retail shouldn’t be underestimated. The future holds intriguing developments for both companies.
Absolutely, the convergence of digital and physical retail strategies will be a defining factor in their competition.
Indeed, the dynamics of the retail sector will continue to evolve, and Amazon and Best Buy will need to adapt to thrive in this changing landscape.