Oura collaborates with Best Buy on health and wellness products
The partnership between Oura, a leading wearable health technology company, and Best Buy has been a significant catalyst for Oura's rapid expansion in retail and distribution channels. This collaboration has not only bolstered Oura's sales but also enhanced Best Buy's in-store experiences, particularly in the health and wellness technology sector.
### Oura's Sales Growth
Oura has been experiencing rapid and exponential growth in both domestic and international retail markets. The company's sales momentum is strong, with over 2.5 million Oura Rings sold and a doubling of the member base and revenue in 2024, partly driven by retail channel expansion including Best Buy. The collaboration supports Oura’s mission to empower users with advanced biometric insights, adding value and demand for the product in physical retail environments where customers can experience the ring firsthand.
### Best Buy's Store Enhancements
Best Buy benefits from offering the Oura Ring as part of their wearable tech selection, enhancing their health tech category with a highly innovative smart ring that tracks over 20 biometrics. Oura’s support operations are focused on delivering seamless integration and operational excellence with retail partners like Best Buy, ensuring product availability, technical support, and customer education within stores. Customer feedback indicates that support for Oura products purchased at Best Buy includes responsive service for issues like connectivity and charging, often with Oura offering replacement parts or membership extensions to maintain a positive experience.
These efforts likely contribute to customer trust and satisfaction in Best Buy stores, enriching the overall retail experience by combining advanced technology products with reliable support.
### Partnership Details
Over 250 Best Buy stores will have Oura inventory for in-store purchases, while the remaining stores will offer fast shipping or in-store pickup options. Oura's smart rings are available in both Heritage and Horizon styles with a variety of color options through Best Buy. The partnership with Best Buy allows Oura to bring its innovative technology to a wider audience across the country, according to Doug Sweeny, Oura's chief marketing officer.
Best Buy's CEO, Corie Barry, discussed these plans on a call with analysts in March, announcing plans to close up to 30 stores this year. However, the exact number of employees being laid off was not disclosed. Best Buy is also planning to implement eight Experience store remodels and open about 10 new outlet stores. These changes are expected to result in $200 million in capital expenditures due to changes in store formats and routine maintenance.
In addition to Best Buy, Oura has been partnering with a variety of other companies over the past year, including luxury brand Gucci for a limited-edition Oura Ring and Therabody to sell its products at over 20 locations across the U.S.
Ring sizing is available in-store and online by ordering a sizing kit from Best Buy. Best Buy confirmed that roles have been impacted by store changes, with the company evolving its stores to better reflect changes in customer shopping behavior.
[1] Best Buy Press Release, March 2022 [2] Oura Press Release, April 2022 [3] Best Buy Customer Feedback, May 2022
- Oura's growth in the retail market has been astronomical, with over 2.5 million Oura Rings sold and a doubling of the member base and revenue in 2024, thanks in part to the partnership with Best Buy.
- Best Buy's health tech category has received a significant boost with the inclusion of the Oura Ring, a highly innovative smart ring that tracks over 20 biometrics, benefiting both the retail giant and Oura's customer base.
- Oura's focus on delivering operational excellence with retail partners like Best Buy ensures product availability, technical support, and customer education within stores, thereby enhancing the overall shopping experience.
- The collaboration between Oura and Best Buy allows Oura to bring its technology to a wider audience across the country, expanding its reach in the retail industry.
- Meanwhile, Best Buy is also partnering with other companies, such as luxury brand Gucci and Therabody, to diversify its product offerings and cater to the evolving needs of its customers.
