Best Buy Canada took a new step to broaden the types of ads it delivers through its retail media network, enabling third-party brands to reach the consumer electronics giant’s customers.
Thanks to a new partnership with the technology vendor Rokt, Best Buy’s Canadian presence will start welcoming ad placements. That means that ads on its website or other screen presences may feature products that the retail chain does not sell in its stores or through its ecommerce site. The move is not unusual in the world of retail media networks. Nevertheless, it does mark a push to open up new revenue opportunities for Best Buy.
Best Buy ranks No. 8 in the Top 1000. The database is Digital Commerce 360’s ranking of the largest North American online retailers. There, it falls under the Consumer Electronics category. Digital Commerce 360 projects Best Buy ecommerce sales in 2024 to decline 3.9% to $12.59 billion.
Best Buy web sales by year
Role of AI in Best Buy Canada’s retail media network
“Our partnership with Rokt gives us a new way to enhance the online customer experience by presenting shoppers with offers and messages that are relevant to them,” said Tara Wilkinson, director of strategy at Best Buy Canada. “Ad personalization is critical to the online customer experience.”
Rokt, which also recently announced new work with the Macy’s retail media network, touts its use of machine learning and artificial intelligence to target and personalize ads.
“Rokt’s technology delivers superior ad engagement which speaks directly to relevance, and that’s why we chose to partner with Rokt — their offering is refreshingly unique,” Wilkinson stated.
The announcement comes in the heart of the 2024 holiday shopping season, and Best Buy Canada named Sirius XM, HelloFresh and DoorDash as brands that will advertise to the retailer’s customers.
Rokt’s work with retail media networks
“Best Buy is a trusted destination for all things consumer electronics and we’re proud to launch this partnership in time for the holidays to enhance the shopping experience for the company’s online customers,” said Laura Cosgrove, vice president of retail strategic partnerships at Rokt. “By powering relevant messages from non-endemic brand partners, Best Buy can continue to engage its customers by bringing them relevant content.”
According to Rokt, the technology provider’s offerings facilitated 4.6 billion transactions in 2024 for 20,000 different businesses. In addition to Best Buy Canada and Macy’s, its retail partners include Ulta Beauty and Just Eat Takeaway.com.
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