The chart above displays the advertising expenses of Best Buy from fiscal 2014 to 2023. In the latest fiscal, the company spent $864 million on advertising compared to $915 million in the previous fiscal.
Best Buy Advertising Expenses 2005-2023
Amounts are in $millions.
| Year. | Advertising costs (Millions) |
| 2023 | $864 |
| 2022 | $915 |
| 2021 | $819 |
| 2020 | $840 |
| 2019 | $777 |
| 2018 | $776 |
| 2017 | $743 |
| 2016 | $742 |
| 2015 | $711 |
| 2014 | $757 |
| 2013 | $703 |
| 2012 | $828 |
| 2011 | $862 |
| 2010 | $709 |
| 2009 | $765 |
| 2008 | $684 |
| 2007 | $692 |
| 2006 | $644 |
| 2005 | $597 |
In fiscal 2021 (ended Jan 30, 2021), Best Buy’s advertising expenses were $819 million compared to $840 million in fiscal 2020.
The advertising expenses of Best Buy increased by a million in 2019 compared to 2018. 2019 advertising expenses of Best Buy were $777 million compared to $776 million in 2018.
About Best Buy :
Best Buy is among the leading retail brands in the United States. The company was incorporated in the state of Minnesota in 1966. Its business is divided into two segments that include domestic and international. The domestic segment is the US segment of Best Buy’s business. The international segment included Canada and Mexico. However, the company exited its Mexico business in the third quarter of 2021. At the end of 2021, the company had 1,126 large store format and 33 small format stores including its domestic and international segments. The company offers merchandise and services in six main revenue categories (included above in the table).
The company’s net revenues in fiscal 2021 reached $47,262 million from $43,638 million in fiscal 2020. Its net earnings were $1,798 million in 2021 compared to $1,541 million in 2020. At the end of fiscal 2021, the company employed 102,000 people. (Fiscal year at Best Buy ends in the first month of the year like Walmart.) The company has enjoyed 144% growth in its online revenues from the United States in fiscal 2021. Its net revenues from the US market in 2021 grew by 7.9% compared to the previous year.