Best Buy CEO plans growth via small stores and AI to boost customer reach and experience

Incoming Best Buy CEO Jason Bonfig aims to revitalize the company by expanding its reach with small-format stores in markets unsuitable for large stores, enhancing customer experience, and leveraging AI technology. The strategy includes opening stores between 12,000 to 28,000 square feet to tap into new communities and boost both physical and digital customer engagement. Despite recent sales challenges due to economic factors and a reset in consumer tech demand post-Covid, Bonfig is optimistic about sustainable growth and innovation, building on the existing strategy. Best Buy also invests in AI tools and partnerships to enhance both customer service and corporate operations as part of its future growth plan.