Monday, October 04, 2010

Best Buy To Emphasize Its Multi Channel Solutions

Best Buy has always been a trailblazer when it comes to the Internet and also customer relationship management. Hence, its CRM strategy has been applauded for leveraging customers data to adapt their store concept to local specificities.

It is common for electronics retailers to have both a brick & mortar presence while owning a e commerce website. Nevertheless, most of the time, it is hard to make both entities coexist. Especially while a brick & mortar company is entering the e commerce sphere.

Best Buy has been able to make the best out of it, and for this new holiday season, it is going a step further. Best Buy is planning on improving its “buying on line, picking up in store” option. The product will be available in store 45 minutes after it has been purchased on the website.

Implementing such a concept requires perfect mastery of the stocks and supply chain. It implies Best Buy will be able to have an accurate knowledge of store’s stocks, warehouse ones and logistics schedule.

Prior to Best Buy, Circuit City had released the 24 minutes guarantee, shortly before filing for bankruptcy (I don’t know if there is any link between both statements).

A new idea is also the fact they’ll let customer pick up their goods right from the warehouse! Once again, this idea implies to design desks in the warehouse.

The idea is smart and great. They are making the best out of multichannel retailing. I believe that some French retailers should think about it.