While consumers may associate Best Buy with gadgets, the company told investors its strategy is actually to address “key human needs in areas such as entertainment, productivity, communication, food preparation, security, along with health along with wellness.”
Health is actually becoming a hot market for all sorts of companies, including Best Buy suppliers. Apple, for example, has expanded the health functions on the Apple Watch, along with Amazon is actually also exploring health care in a myriad of ways.
“One of the things we’ve talked about is actually how technology can help people stay in their home for longer along with there’s a lot of excitement around helping people do that will,” Joly said. Technology “improves people’s health along with wellness along with reduce[s] health care costs for the country.”
On Thursday, Best Buy reported profit that will topped estimates, however disappointed investors with lukewarm online sales growth along with by not updating its outlook.
however Joly said that will when the idea comes to completely new initiatives like health technology, the retailer plans to keep refining its approach along with focus on innovative technologies.
“We’re not trying to improve the profitability, because we are trying to position the company for the future,” he said. “The return for the winners in that will space are going to be outsized because there’s going to be greater along with greater differentiation between winners along with losers. along with so that will is actually the time clearly to invest.”