Uber’s next ride is heading to the electronics retail space after it struck a partnership with Best Buy. The agreement brings products from more than 800 Best Buy stores to the Uber Eats platform.
“Our partnership with Best Buy is more than convenience, it’s a signal of Uber’s growing role in the retail ecosystem,” Hashim Amin, head of grocery & retail for North America at Uber, said in a comment to Revenue Brew.
The deal is the latest in a string of moves by the mobility and delivery business to diversify its offerings. Uber Eats, launched in 2014, was the original detour for the ride-hailing company, which has since added freight and advertising segments to its business mix. It’s the latest change for the delivery service in recent months; in May, Uber Eats tapped Family Dollar to offer more affordable products.
“Together, we’re proving how on-demand technology can expand access, unlock growth for our retail partners, and cement Uber Eats as a platform that meets consumers where they are,” Amin said. Uber’s Q2 earnings release in August saw revenue grow 18% YoY to $12.7 billion, but the standout from the report was the confidence signalled by a $20 billion stock buyback. Partnerships—with Marriott in 2021 and various autonomous driving partners from Waymo to WeRide—remain a critical part of Uber’s growth strategy. CEO Dara Khosrowshahi has highlighted the huge potential for autonomous driving, but it seems a broader goal is boosting overall cross-platform activity to drive sales growth.
Best Buy did not immediately respond to a request for comment.
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