How the average price of best-selling items at Best Buy fluctuate over time
According to pricing data we collect for Best Buy ($$NYSE:BBY), since 2015 the average price of Best Buy's top-selling products is $124.85. However, over time, the average price of best-selling items at Best Buy have slowly edged up, as you can see in the chart below.
Dips are seen on the 4th of every month, when Best Buy appears to reset its sales charts for the new month on its API that it makes available to partners and trackers like us. This appears to be a practice for the brand that began in 2017. When counting unique UPCs for each day, a dip in number of products listed indeed coincides with a drop on the 4th day of each month, as seen below.
The highest daily average price for best-selling items at Best Buy — since we've been tracking — was on September 17, 2016. On that day, the best-selling product at Best Buy was the Amazon Fire TV Stick at $39.99.
September 17 was also one day after the release of the Apple iPhone 7 and 7+. In fact, we see the average best-selling product price shoot up beginning on September 13, 2016, the same day the iPhone 7 appeared in Best Buy's inventory and subsequent sales charts.
Low points for average price — aside from the aforementioned 4th of each month — appear immediately following winter holidays, possible due to consumer fatigue after having spent money on gifts leading up to the holiday.
Best Buy ($NYSE:BBY) is the largest consumer electronics retailer in the United States. According to the TWICE Top 100 Consumer Electronics List. With $32.47 billion in sales, it beats out even Amazon.com who sold $30.11 in consumer electronics in 2017.
Best Buy is also the largest consumer electronics retailer that sells Apple, Amazon, and Google all under the same roof. This is important to note because Amazon doesn't sell certain Apple and Google products that compete with its own line of consumer electronics (notably the Alexa home assistant and Fire TV product lines).