Various types of organizations, firms, retail companies, and corporations are available in the market. With the help of their clever marketing strategy, they try to amaze customers and sell their products.
Two of those, which are America-based firms, are Best Buy and Target.
Key Takeaways
- Best Buy focuses more on electronics and appliances, while Target offers a wider variety of products.
- Best Buy offers installation and repair services, which are not available at Target.
- Target has a larger selection of clothing, groceries, and household essentials, while Best Buy does not offer these items.
Best Buy vs Target
The difference between Best Buy and Target is that Best Buy has been in business since August 22, 1966, when it was created and founded. However, Target is an international retailer that has been in business since its founding on June 24, 1902. Best Buy‘s headquarters in Richfield, Minnesota, oversees all of the company’s operations and functions. However, The Target corporation and firm have its headquarters in Minneapolis, Minnesota.
Best Buy is a worldwide consumer electronics shop established in the United States of America. Sound of Music, Best Buy Superstores, and Best Buy Co. Superstores were all previous names for Best Buy.
James Wheeler and Richard M. Schulze, who not only formed but also launched Best Buy, are the names of the persons behind the company’s success. Clicking on “BestBuy.com” will take you to the company’s official website URL.
Target is a retail firm based in the United States of America. Dayton’s Dry Goods Company, Dayton-Hudson Corporation, Dayton Corporation, Dayton Company, and Goodfellow Dry Goods were all names used by Target Retail.
George Dayton laid the foundation stone for the Target organization, and John Geisse laid the foundation stone for the Target shop.” By going to “corporate.target.com” or “target.com,” you can get access to the retail company’s website.
Comparison Table
| Parameters of Comparison | Best Buy | Target |
|---|---|---|
| About the company | It is a USA-based multinational consumer electronics retailer company. | It is a USA-based retail corporation. |
| Formerly known as | Best Buy Superstores, Sound of Music, and Best Buy Co. Superstores. | Dayton Corporation, Dayton Company, Goodfellow Dry Goods, Dayton’s Dry Goods Company, Dayton-Hudson Corporation |
| Founded in | 1966, 22 August | June 24, 1902 |
| Founded by | James Wheeler, Richard M. Schulze | George Dayton is the founder of the corporation, and John Geisse is the founder of the store. |
| Location/ Headquarters | Minnesota, Richfield | Minnesota, Minneapolis |
| Website address | BestBuy.com | corporate.target.com, target.com |
| Products concerned | Appliances, Consumer electronics. | Clothing, bedding, accessories, health and beauty products, food, electronics, housewares, furniture, pet supplies, toys, garden and lawn, shoes. |
What is Best Buy?
Best Buy is a multibillion-dollar consumer electronics retailer with headquarters in the United States of America. Sound of Music, Best Buy Superstores, and Best Buy Co.
Superstores were some of the previous names for Best Buy. Best Buy has been in business since its founding on August 22, 1966.
James Wheeler and Richard M. Schulze, who not only formed but also started Best Buy, are the names of the people who are responsible for the company’s success.
Best Buy’s headquarters, located in Richfield, Minnesota, oversees all of the company’s operations and functions. Clicking on “BestBuy.com” will take you to the company’s official website.
Consumer electronics and appliances are the core focus of Best Buy. Best Buy sells a limited number of items. Target, on the other hand, has a broader perspective and focuses on a more diverse and dynamic assortment of products.
What is Target?
Target is a retail firm with headquarters in the United States of America. Dayton’s Dry Goods Company, Dayton-Hudson Corporation, Dayton Corporation, Dayton Company, and Goodfellow Dry Goods were only a few of the names used by Target Retail.
George Dayton laid the foundation stone for the Target organization, and John Geisse laid the groundwork for the Target store.
The headquarters of the Target corporation and company is located in Minneapolis, Minnesota. Target has been in business since it was formed on June 24, 1902.
By going to “corporate.target.com,” you may access the Target corporation’s official website, and by going to “target.com,” you can get to the retail company’s.
Furniture, pet supplies, toys, garden and lawn, shoes, apparel, bedding, accessories, health and beauty items, food, electronics, and housewares are just a few of the products that Target is concerned with.
Main Differences Between Best Buy and Target
- Best Buy is a US or America-based multinational consumer electronics retailer company. On the other hand, Target is a US or America-based retail corporation.
- Best Buy was formerly known by various names, like Sound of Music, Best Buy Superstores, and Best Buy Co. Superstores. On the other hand, Target Retail Company was known by various names such as Dayton’s Dry Goods Company, Dayton-Hudson Corporation, Dayton Corporation, Dayton Company, and Goodfellow Dry Goods.
- The organization of Best Buy has been in operation since 22 August 1966, when it was established and founded. On the other hand, the multinational firm Target Retail has been in operation since 24 June 1902, when it was founded.
- The names of the people behind the success of the operation of the Best Buy firm are James Wheeler and Richard M. Schulze, who not only established but founded as well. On the other hand, the foundation stone of the establishment of the Target corporation was led by George Dayton, and the foundation stone of the establishment of the Target store was led by John Geisse.
- All the operations and functionalities related to Best Buy are done from its headquarters, which is in Richfield, Minnesota. On the other hand, Minneapolis, which is in Minnesota, holds the headquarter of the Target corporation and company.
- The official website address of the Best Buy firm can be reached by clicking “BestBuy.com.” On the other hand, the official website of Target corporation can be reached by clicking on “corporate.target.com,” and the retail company by clicking “target.com.”
- Best Buy is mainly concerned with products such as consumer electronics and appliances. On the other hand, Target is concerned with various products such as furniture, pet supplies, toys, garden and lawn, shoes, clothing, bedding, accessories, health and beauty products, food, electronics, and housewares.
- https://www.sciencedirect.com/science/article/pii/S1057740814000977
- http://digitalcommons.csbsju.edu/cgi/viewcontent.cgi?article=1015&context=econ_pubs
Last Updated : 25 July, 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.
The comparison table is a great reference for understanding the key differences between Best Buy and Target. It’s a clear and concise way to understand their individual attributes.
I agree. It’s a convenient way to see their distinctions in one place.
Absolutely, Bmason. It’s an excellent tool for anyone looking to understand their unique business models.
The detailed descriptions of Best Buy and Target offer a comprehensive understanding of their specialties and areas of focus. It’s educational and enlightening.
The company backgrounds, creation dates, and historical narratives of Best Buy and Target offer an insightful look into their evolution and growth over the years.
Definitely, Grichards. It’s a testament to the enduring legacies these companies have built over time.
I agree, Grichards. It’s a testament to the enduring legacies these companies have built over time.
The individual profiles of Best Buy and Target showcase the uniqueness of each company, allowing for a better understanding of their respective contributions to the market.
Absolutely, Quentin. It’s fascinating to see how their strategies align with their core strengths.
Indeed, Quentin. They both have distinct offerings that cater to different customer preferences.
The focal areas of Best Buy and Target align with their respective strengths, offering unique value propositions to consumers in different product categories.
Well said, Sean08. Their distinctions provide diverse options for consumers looking for specific products.
The detailed comparison of Best Buy and Target illustrates their different product categories, company history, and important company details. It’s valuable information for understanding their business approaches.
Absolutely, Shaw. This provides a comprehensive view of the companies’ areas of focus and business objectives.
The specific insights into the origins and founders of Best Buy and Target provide a deeper appreciation for their business history and legacy.
Absolutely, Isaac. It adds a human element to these corporations, understanding the individuals behind their beginnings.
Both Best Buy and Target are two major American companies with diverse product offerings, but they each have their unique strengths and weaknesses that cater to different customer needs.
I agree, Bruce. However, Best Buy’s specialization in electronics gives them an edge over Target in that particular market segment.
Exactly, Bruce. Best Buy seems to provide better services for electronics, while Target offers a wider range of other products.
The breakdown of Best Buy and Target’s headquarters, founders, and company details is instrumental in understanding their corporate structures and geographical roots.
I completely agree, Dennis. It’s important to consider the geographical and historical elements of these companies.
Indeed, Dennis. The background details of companies provide valuable context for their business operations.
The historical background and founding details of Best Buy and Target provide an insightful glimpse into their origins and how they have evolved into the major companies they are today.
It’s interesting to see the different names these companies have had over time. It reflects the changes and growth they’ve undergone.