Earned & PaidBest Buy
Best Buy spent $861M on advertising and marketing in fiscal 2026, up 1.8% on the year before and +11% since 2019. That's 2.1% of revenue, more than in 2019: leaning in.
Marketing spend by year
Bars: advertising and marketing expense, $B (10-K). Line: spend as a share of revenue.
What the 10-K says about marketing
- strategy “Competition is becoming increasingly diverse, including through the expansion of retail media networks, such as our retail media network, Best Buy Ads, which competes for brand marketing spend and advertiser attention. Additionally, as our Best Buy Marketplace platform expands,…” 10-K, Mar 18, 2026
Say vs do
We found no statement about the size of Best Buy's marketing budget on its earnings calls or in its 10-Ks, so here is its record against its peers.
What they said
No statement about the size of its marketing budget.
What they did
| Year | Marketing spend | Change | Share of revenue |
|---|---|---|---|
| FY2026 | $861M | +1.8% | 2.1% |
| FY2025 | $846M | +6.5% | 2.0% |
| FY2024 | $794M | -8.1% | 1.8% |
| FY2023 | $864M | -5.6% | 1.9% |
| FY2022 | $915M | +11.7% | 1.8% |
| FY2021 | $819M | -2.5% | 1.7% |
Against its peers. Compared with the 7 other Retail advertisers we track (Walmart, Target, Home Depot, Lowe's, TJX Companies and 2 more): since 2019 its marketing spend went +11% (peer median +2%); its share of revenue moved +0.3 pts (median -0.2); last year +1.8% (median +5.9%).
In interviews, its leaders made 32 statements about marketing: 2 argued for investing in brand and 0 for cutting.
How we check: a statement gets a verdict only when it's clearly about the size of the whole company's marketing budget over a full fiscal year; we compare it with the advertising and marketing expense in that year's 10-K. Statements about one quarter, one brand or channel, or the mix between brand and performance can't be checked against annual filings.
What they say about media
The marketing channels it talks about using for itself on earnings calls and in its 10-Ks and 10-Qs, since 2019; counts are statements, not spending.
- Creative campaigns “Launching next month, our campaign is called Believing is Seeing.” Jason Bonfig on the earnings call · May 29, 2026 · source
- Retail media “We want to increase the share of wallet and we want to use this as another tool that helps us fuel our ads business.” Corie Barry on the earnings call · Nov 27, 2025 · source
- CRM, loyalty & first-party data · AI in marketing “Going forward, we will continue to use AI augmented optimization across multiple areas of our business, from scan detection to customer support to personalized e-mail marketing.” Corie Barry on the earnings call · Nov 27, 2025 · source
- Sponsorships & athletes · Influencers & creators “We're teaming up with more than 200 influencers and Best Buy creators as they highlight the tech that's topping their gift list.” Corie Barry on the earnings call · Nov 27, 2025 · source
- Connected TV & streaming “We will also have presence on cbssports.com and across streaming sports content on ESPN.” Corie Barry on the earnings call · Nov 27, 2025 · source
What they see in the market
What its leaders and filings say about the ad market: its own ad business, or the channels advertisers use, since 2019; counts are statements, not spending.
- Retail media “As a reminder, they are as follows: first, we are advancing Best Buy as a retail media, advertising and technology company.” Jason Bonfig on the earnings call · Aug 31, 2026 · source
- Programmatic & display “In fiscal 2027, we anticipate continuing to grow Best Buy Ads through existing advertisers as well as other areas of opportunity, including advertising agencies and demand-side platforms.” 10-K · Mar 18, 2026 · source
- Experiential & events “Speaking of Best Buy ads during the quarter, we hosted our first-ever client showcase in September called We Got Next.” Corie Barry on the earnings call · Nov 27, 2025 · source
- CRM, loyalty & first-party data “I will add that our membership program plays multiple roles in our business, not only providing unique value to our members, but also serving as a source of growth for our rich first-party data that helps fuel Best Buy Ads.” Corie Sue Barry on the earnings call · Mar 4, 2025 · source
- Measurement “With this agreement, advertisers can leverage our first-party audiences when buying Roku Media with improved targeting and closed-loop reporting.” Corie Sue Barry on the earnings call · Aug 29, 2024 · source
In the news
- Best Buy to launch on TikTok Shop Yahoo Finance · Sep 29, 2026 · campaign
- What Does Best Buy (BBY) Fire TV Deal Mean For Its Ad Business? Yahoo Finance · Sep 27, 2026 · retail media
- Best Buy Announces Official 'Pokémon' 30th Anniversary Tcg Event With Freebies IMDb · Sep 27, 2026 · campaign
- Best Buy Ads Pushes Further Into Commerce Media, CTV MediaPost · Sep 23, 2026 · retail media