Best Buy Touts Strong Results from Multi-Channel Initiatives

Best Buy's latest multi-channel initiative is delivering substantial results for the company after reporting a record number of consumers visited in the company's latest quarter. Best Buy's online business revenue for its latest quarter increased more than 20 percent versus last years.

These results highlight the power of a multi-channel retailer as in-store pick-ups were up nearly one-third of total online sales for the quarter," says Brian J. Dunn, President, Chief Operating Officer, Best Buy.

Additionally, gift cards have been a bright spot this year, according to Dunn. "Last year, customer demand for gift cards dropped dramatically, in large part because of the bankruptcies and strife among retailers and financial institutions. We are very encouraged by the fact that gift card sales were up approximately 40 percent in November.

"Additionally, Best Buy Mobile, the mobile phone sales and operating model that is now scaled across all Best Buy stores in the U.S. and Canada, has been one of Best Buy's most successful growth stories across the enterprise," says Dunn.

Robert A. Willett, CEO, Best Buy International adds, "In supply chain, we've converted from a product push to a product pull system, a major achievement for Best Buy. In IT, I am very proud of having built the infrastructure that has supported our growth over the past six years. Not once during that period did our point of sales systems fail us, even in the crush of holiday."
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