Best Buy is trying to reach more customers by opening mini locations in communities that are interested in the electronics retailer but can’t support larger stores.

“What we’re finding is that there are markets that we just can’t be in with a traditional size Best Buy store, but they’re markets that absolutely make sense for Best Buy from a reach perspective,” the retailer’s incoming CEO Jason Bonfig told CNBC.

Best Buy already opened one of these new mini locations this week in Jonesboro, Arkansas, according to the outlet.

The smaller stores are about 12,000 to 15,000 square feet, substantially smaller than other Best Buy locations, including its massive flagship store in New York City that is more than 40,000 square feet.

“It’s a great example of a vibrant market, a place where customers are interested in our brand, but not a market that could support a 30,000- or 35,000-square-foot store,” Bonfig said about the Jonesboro store.

“An 18,000-square-foot store allows us to have the best of all of our different categories and meet the needs at that particular location,” he added.

Best Buy’s stock has been sliding over the past five years as it struggles with sales. Shares that were trading slightly below $140 in 2021 are now trading at around $85.

During the company’s latest earnings call in May, current CEO Corie Barry announced better-than-expected results with sales increasing by two percent in the first quarter of the fiscal year.

Best Buy also opened up a 28,000-square-foot store in Cape Cod, Massachusetts, this week, which Bonfig told CNBC was another example of finding “the right size store in the right location in the right node.”

The Independent has reached out to Best Buy for comment on plans for more smaller stores.

Bonfig mentioned Best Buy’s goal of expanding small and medium format stores in the May earnings call.

“The medium format gives us flexibility to enter markets and trade areas where full-sized stores don't fit the opportunity, but where customer demand is real and growing,” he said. “The small format lets us get closer to the customer in dense urban neighborhoods, suburban centers, and communities that have been underserved.”

Bonfig, who has about 27 years of experience with Best Buy, will take over as CEO on November 1.