Founded in 1966 as a simple stereo store, Best Buy has risen to dominate the electronic retail market. Now a member of the Fortune 500, Best Buy sells almost every piece of home technology available. From massive flat screen T.V’s to the latest laptops, Best Buy has all but cornered the electronic market.
One factor that has helped Best Buy to achieve the heights that it has is the distinctiveness of their logo. With so many locations in so many countries, the black and yellow logo of Best Buy can be seen at quite a few intersections. This brand recognition tends to stick in people’s minds when they need to buy a new video game for their children or a new television for themselves. For this reason Best Buy often obtains incredible profits in the holiday season and anyone who seeks to do the same themselves should consider the branding history of this retail powerhouse.
Logo#1 The Sound of Music
Before Best Buy was Best Buy, it actually went by the name “The Sound of Music” from 1989 to 1992. The logo of this tiny franchise showed the company name “The Sound of Music” in bold, black letters above a stylized stereo speaker. This distinctive yellow and black color scheme of this logo is also easily recognized on all succeeding logos of Best Buy. This logo was meant to show precisely what the company sold as well as stand out from the crowd with bright, engaging colors.
Logo#2 The Superstore
In 1983 Best Buy got a new logo and a new purpose after a tornado hit one of their stores. Advertising a tornado sale, it was described as a best buy. The name stuck and the company began to reinvent itself around its new image. Their new logo, which kept the same stylized stereo image and color scheme, got changed to read “Best Buy Co. Superstore.” As the company began to open larger stores and introduced warehouse companies, the “Superstore” in the logo was meant to remind customers that they now sold much more than just stereo equipment.
Current Logo-The Tag
The next, and current, logo of Best Buy was introduced in 1992. The company, in just a few short years, had grown to become a billion-dollar company and a member of the esteemed Fortune 500 group. In order to further evolve their image, Best Buy introduced its famous sales tag logo. The Best Buy name is in bold and the entire logo in the simple, but effective, shape of a sales tag. This is meant to symbolize Best Buy’s large selection of merchandise as well as well as showcase their main goals of customer service.
Why the Logo Works
There can be no question that the Best Buy logo is effective. Best Buy is a household name and a member of the vaunted Fortune 500 and that kind of recognition is difficult to beat. The simplicity of their logo, of the famous price tag, cannot be underestimated. It suggests to customers that they can find whatever electronics they want at Best Buy at the best prices.
This simple idea seems to speak to their customers, and every company that seeks to create a distinctive logo of their own should consider the lessons of the famous Best Buy tag.