Best Buy is another large seller who founded the market. Here’s what we know

Soon another online market will appear, this time from a large electronics seller.

Best buy (Buba) joins Amazon.com (Amzz), Walmart (WMT) and other retailers, joining the space estimated at hundreds of billion dollars of sales. The launch of external American market management at the beginning of this month was found that this summer was to be opened. Corie Barry in the latest conference conversation from the earnings Best Buy shared more details about the plan, saying that she believes that she can attract buyers and increase profits.

This is the company’s second attempt on the American market; The first attempt was closed almost ten years ago, with problems with media reporting with product overlapping and minimal revenues. The Canadian market, launched in 2016, was seen as a greater success.

“We believe that as a trusted leader in [consumer electronics] We have the opportunity to use our positioning and resources to build a varied digital market platform, thus bringing our clients access to a much more expansive range and new categories, “Barry said at the call, according to the transcription provided by Alphasense.

Barry said that the new market would allow Best Buy to provide customers with more elections without increasing their own stocks. The sellers will undergo the verification process, said the company.

Among the other details discussed by Best Buy:

• The American market offers a range of new products, and the current Canadian market focuses more on renovated objects. The company said that, according to Barry, it saw the demand in Canada for deeper products of products that the American version can offer. “Customers search our website and look for a wider choice or are looking for a wider amount of products, and we just don’t have them there.”
• American customers will be able to return products on the market to stores, the directors have given.
• Ultimately, the management, the company could offer fulfillment to market sellers. “It is still at the beginning of the trial and we are satisfied with the strong interest of sellers and we believe that it indicates a promising premiere,” said Barry.
• Best Buy cooperates with Enterprise Marketplace Mirakl during the premiere of Marketplace, which runs the Canadian market.

Best Buy did not publicly share the release date. The company did not answer Investopedia A request for comment during publication.

Best Buy shares have fallen by 10% this week and are so far off by about 17%.