You Won’t Believe Which Major Tech Retailer Just Unveiled Its First New Stores in 10 Years—Find Out Where!

In the early 2000s, Best Buy was the go-to destination for tech enthusiasts and everyday consumers alike, offering a vibrant selection of the latest phones, PCs, and gaming consoles. Customers could interact with products before buying, aided by knowledgeable staff who didn’t operate on commission, making their advice feel genuinely helpful. The in-store experience was lively, with pop ballads filling the air and Geek Squad members on hand to assist with any tech issues.

However, this dynamic began to shift in the late 2010s and early 2020s. The onset of the Covid-19 pandemic accelerated a trend toward online shopping, which significantly impacted traditional electronics retailers like Best Buy. Between 2017 and 2022, the company experienced a staggering $9 billion, or 12%, drop in revenues, alongside a 40.8% reduction in its workforce, according to data from the U.S. Census Bureau. In response, Best Buy began closing stores across the country, marking a continuous decline in its brick-and-mortar locations since 2012, as reported by Business Insider.

Fast forward to 2026, and it appears that Best Buy is ready to turn the tide after more than a decade of contraction. During the company’s Q4 FY 2026 earnings call, CEO Corie Barry announced plans for expansion, indicating that Best Buy will open six new stores in the upcoming year to better cater to demand in growing markets, including areas where the company has not had a physical presence before. “This year, we expect to have new domestic Best Buy store growth for the first time in more than a decade,” Barry told investors.

The new locations are expected to differ significantly from the expansive superstores of yesteryear. Barry explained that the company has developed and tested a smaller store model aimed at driving incremental revenue in these burgeoning markets. As she noted during the earnings call, Best Buy opened a smaller format store in Bozeman last year that serves as a template for future locations.

“We’re working on a smaller footprint store that maybe can augment a market like Miami or Atlanta, where we’ve seen a lot of growth, or could go into a new market,” Barry elaborated in a conversation with CNBC. This new format is designed to reach customers who might not otherwise shop at Best Buy, blending experiential retail with a leaner approach. “We’re playing with really experiential, all the bells and whistles stores in partnership with our vendors, and at the same time some that might be a little bit leaner,” she said.

Best Buy’s decision to expand its physical footprint comes at a time when other retailers are also looking to increase their presence. According to John Mercer, head of global research at retail data company Coresight Research, an estimated 5,500 new stores are expected to open in 2026, representing a 4% increase from the previous year. Mercer noted that these trends tend to fluctuate, with years of peak openings followed by dips, but this year seems poised for a net increase in openings.

Part of this retail resurgence can be attributed to changing consumer preferences, particularly among Gen Z shoppers. Despite being digitally native, consulting firm L.E.K. found that 64% of Gen Zers prefer shopping in person. Supporting this trend, data from Placer.ai indicates that indoor malls, outdoor shopping centers, and outlet malls saw a year-over-year increase in foot traffic. Notably, indoor mall traffic grew by 5%, while open-air shopping center traffic increased by 7.3%, and outlet mall traffic rose by 7.2% in February 2026.

While the nostalgia of the “technology toy store” version of Best Buy may be fading, the company’s shift toward smaller, more agile store formats could usher in a new era for the brand. As consumer habits evolve, Best Buy appears to be adapting its strategy to remain relevant in a landscape increasingly dominated by online retail. By anticipating changes in shopping behavior and experimenting with new store formats, Best Buy hopes to reclaim its place as a leader in the electronics market.