On August 19, US electronics retailer Best Buy (BBY.US) jumped over 4.3%, reaching a high of $74.91, marking its highest level since May this year. The surge came after Best Buy announced the launch of a third-party marketplace platform aimed at expanding its product selection and reversing declining sales trends.
Starting Tuesday, consumers will be able to purchase newly available brands and products through Best Buy's website and mobile application, including customized gaming controllers, seasonal decorations, and sports collectibles, among others.
The new platform operates similarly to Amazon and Walmart's marketplace model, relying on third-party merchants to supply, sell, and ship products, while Best Buy collects commissions from these transactions.
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