Best Buy is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. It was founded by Richard M. Schulze and James Wheeler in 1966 under the name Sound of Music.

The company changed its name to Best Buy in 1983 and has since become one of the largest and most well-known electronics retailers in the United States. Best Buy offers a wide range of products and services, including consumer electronics, appliances, entertainment software, and technology services. The company operates through its retail stores, online channels, and in-home delivery and installation services.

Best Buy also provides Geek Squad support, an on-demand tech support and repair service. On a global scale, Best Buy has expanded its operations in Canada, Mexico, and China. In Canada, the company operates under the brand name Best Buy Canada.

It has also entered several partnerships to strengthen its position in the international market, such as the joint venture with Carphone Warehouse in Europe. In terms of market position, Best Buy is one of the largest retailers of consumer electronics in the world. It competes with other electronics retailers like Amazon, Walmart, and Apple.

Best Buy has faced increasing competition from online retailers, but it has managed to adapt and remain a dominant player in the industry. Over the years, Best Buy has undergone several significant changes and accomplishments. In the early 2000s, the company focused on a customer-centric strategy, improving its customer service and in-store experience.

In recent years, Best Buy has also increased its focus on online sales and expanded its product lineup to include emerging technologies like smart home devices and wearables. Currently, Best Buy continues to evolve and adapt to the changing retail landscape. The company has embraced omnichannel retailing, combining its online and physical stores to provide a seamless shopping experience.

In response to the COVID-19 pandemic, Best Buy has also implemented curbside pickup and contactless delivery options. These initiatives aim to maintain the company's market position and meet the changing demands of its customers. Overall, Best Buy is known as a leading electronics retailer, with a strong presence in the United States and an expanding global footprint.

It continues to innovate and adapt to remain competitive in the ever-changing consumer electronics industry