Difference Between Best Buy and Walmart (With Table)

Today there exist several options through which one can pay for their necessities. One can buy anything they want to right from groceries, electronic devices, clothing and apparel, accessories, vehicles etc. One can either buy these things online, or they can always opt for in-store purchases. Several companies have branches of their stores in various parts of the world. These companies make sure that they provide anything and everything that a customer needs. Two of such renowned companies are 1. Best Buy and 2. Walmart.

Best Buy vs Walmart

The difference between Best Buy and Walmart is their founder and their headquarters. The founders of Best Buy are Richard M. Schulze and James Wheeler, and its headquarters is located in Richfield, Minnesota, USA. On the other hand, the founder of Walmart is Sam Walton, and its headquarters is located in Bentonville, Arkansas, USA.

Best Buy is an electronics retailer that was founded by Richard M. Schulze and James Wheeler. It was founded on 22 August 1966. Its headquarters is located in Richfield, Minnesota, USA. The company has several subsidiaries that include Geek Squad, Pacific Sales and Magnolia Audio Video, Best Buy Mobile, Magnolia Home Theater.

Walmart is a retail company that has its stores in various locations. The company was founded by Sam Walton, and its headquarters is located in Bentonville, Arkansas, USA. It was founded on 2 July 1962. Various things are sold at Walmart that includes home improvements, garden supplies, jewellery, toys, craft and party supplies, home and furniture, electronic devices, clothing, movies, music, pet supplies etc.

Comparison Table Between Best Buy and Walmart

Parameters of ComparisonBest BuyWalmart
FoundersRichard M. Schulze and James Wheeler.Sam Walton
Founded on22 August 19662 July 1962
HeadquartersRichfield, Minnesota, USABentonville, Arkansas, USA
ProductsConsumer electronics and appliancesHome improvements, garden supplies, jewellery, toys, craft and party supplies, home and furniture, electronic devices, clothing, movies, music, pet supplies, health and beauty, footwear, photo finishing, grocery, sporting goods and fitness, auto
SubsidiariesGeek Squad, Pacific Sales, Magnolia Audio Video, cinema is Napster, GreatCall, Magnolia Hi-Fi, Best Buy Stores LP, BBC Property Co, Best Buy Finance Inc, GeekS quad Europe Ltd, Best Buy Shanghai Ltd, vpr Matrix Inc, BBC Investment Co, BBY Business to Business ULC, Best Buy China Holdings Ltd, Dealtree Inc, Best Buy Mexico, GC Buyer Inc, Howell and Associates Inc.Sam’s Club, Asda Stores Limited, Flipkart, Walmart Canada, Bodega Aurrerá, Hayneedle, Líder, Vudu, Bonobos, e-mart, Seiyu Group, Moosejaw, Art.com, Whitestag, Jet.com, Massmart, Walmart Chile, Walmart Connect, Walmart Labs, Amigo Supermarkets, MC Health MSO LLC, Yihaodian, Wal-Mart Stores East LP, Walmart Global Procurement, ELOQUII Design, Aspectiva Ltd., PaperG, Inc, Wal-Mart International, Wal-Mart Realty Company.

What is Best Buy?

Best Buy is an electronics retailer that was founded by Richard M. Schulze and James Wheeler. It was founded on 22 August 1966. Its headquarters is located in Richfield, Minnesota, USA. It sells consumer electronics and appliances. It is one of the biggest electronics retailers at the global level and serves primarily through three channels, namely, retail stores, online stores, and call centres.

As of February 2020, Best Buy served over 977 locations. Hubert Joly, Corie Barry and Mike Mohan are some of the key people who are a part of Best Buy. Until the year 2011, Best Buy operated in China and until the year 2012, it also operated in Europe. However, the company operates in countries like Canada and Mexico internationally.

In North America, Best Buy operates the Best Buy Mobile and Insignia, and in China, the company operates Five Star. However, in the United States of America, the company sells cell phones from Verizon Wireless, Sprint Corporation etc. In the year, 2004 Best Buy was named the “Company of the Year” by Forbes magazine. 

There are several subsidiaries of Best Buy such as Geek Squad, Pacific Sales, Magnolia Audio Video, cinema is Napster, GreatCall, Magnolia Hi-Fi, Best Buy Stores LP, BBC Property Co, Best Buy Finance Inc, GeekS quad Europe Ltd, Best Buy Shanghai Ltd, vpr Matrix Inc, BBC Investment Co, BBY Business to Business ULC, Best Buy China Holdings Ltd etc.

What is Walmart?

Walmart is a retail company that has its stores in various locations. The company was founded by Sam Walton, and its headquarters is located in Bentonville, Arkansas, USA. It was founded on 2 July 1962. On 31 October 1969, Walmart was incorporated under Delaware General Corporation Law.

Various things are sold at Walmart that includes home improvements, garden supplies, jewellery, toys, craft and party supplies, home and furniture, electronic devices, clothing, movies, music, pet supplies etc. Nearly 24 countries around the world have stores of Walmart as of 30 April 2021. All these stores are either operated by their original name, or they are operated by different names.

In countries like the United States of America and Canada, the company is known as Walmart. On the other hand, in countries like Mexico and locations in Central America, the company is addressed as Walmart de México y Centroamérica. However, in India, the company is known as Flipkart Wholesale.

Several subsidiaries of Walmart include Sam’s Club, Asda Stores Limited, Flipkart, Walmart Canada, Bodega Aurrerá, Hayneedle, Líder, Vudu, Bonobos, e-mart, Seiyu Group, Moosejaw, Art.com, Whitestag, Jet.com, Massmart, Walmart Chile, Walmart Connect, Walmart Labs, Amigo Supermarkets, MC Health MSO LLC, Yihaodian, Wal-Mart Stores East LP etc.

Main Differences Between Best Buy and Walmart

  1. Best Buy sells products like consumer electronics and appliances. On the other hand, Walmart sells a variety of products, including home improvements, garden supplies, jewellery, toys, craft and party supplies, home and furniture, electronic devices, clothing, movies, music, pet supplies, health and beauty, footwear, photo finishing, grocery, sporting goods and fitness, auto etc.
  2. The headquarters of Best Buy is located in Richfield, Minnesota, USA. On the other hand, the headquarters of Walmart is located in Bentonville, Arkansas, USA.
  3. The founders of Best Buy are Richard M. Schulze and James Wheeler. On the other hand, the founder of Walmart is Sam Walton.
  4. Best Buy was founded on 22 August 1966. On the other hand, Walmart was founded on 2 July 1962.
  5. The subsidiaries of Best Buy include Pacific Sales, Magnolia Audio Video, cinema is, Napster, GreatCall etc. On the other hand, the subsidiaries of Walmart include Sam’s Club, Asda Stores Limited, Flipkart, Walmart Canada, Bodega Aurrerá, Hayneedle, Líder etc.

Conclusion

Both companies are two of the most renowned companies in the world and have been providing service to customers for a long time. They provide good quality products to the customers.

Both Best Buy and Walmart are unique and great at what they sell and do, and they have a different place in their customer’s life when it comes to buying different products.

References

  1. https://www.emerald.com/insight/content/doi/10.1108/10878570710833705/full/html
  2. https://journals.sagepub.com/doi/abs/10.1177/0891242412456738
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