Best Buy Execs Vow To Make Major Updates In Online Retail Effort

Amazon’s had a big advantage competing with Best Buy‘s Web site: It seemed to be caught in “a 10-year time warp to 2002,” the retail chain’s global e-commerce and marketing President Scott Durchslag confessed in a remarkably frank presentation this afternoon to investors attending the Goldman Sachs dotCommerce Day. That’s about to change. Best Buy, which has 1B online visits a year, is “catching up to where the site should have been.” For example, the search engine has been overhauled to find exactly what the consumer wants, not something similar. The mobile app will tell people where to find the closest store, and what deals it offers. Best Buy also will create a a virtual currency that gives visitors points if they do things such as write a review or post a purchase to Facebook. The company plans to offer opportunities for people to read reviews written by friends anywhere on the Web, not just at the Best Buy site. (more…)

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