The yellow price tag isn’t going away, but it’s no longer front and center in an updated logo Best Buy revealed this week. The first refresh of the logo in nearly three decades is part of a new marketing strategy as the electronics chain increasingly focuses not just on products and prices, but also the value espoused by its Best Buy 2020 strategy: helping improve customers’ lives through technology. The new tagline: “Let’s talk about what’s possible.”
Total Retail's Take: Best Buy has seen a nice rebound in its business in recent years, one of the few traditional brick-and-mortar retailers that have been able to compete on a near level playing field with Amazon.com. According to Best Buy CEO Hubert Joly, one of the key reasons for Best Buy's turnaround is its focus on its people, especially its customer service, in-store associates, and "Geek Squad" tech support experts. This new logo and marketing campaign speaks to Best Buy's commitment to serving its customers throughout the purchase experience with first-class support, something it believes differentiates itself from Amazon.