Best Buy online sales now 42% of US revenue, up 155.4% in Q1
Best Buy has been shifting its approach throughout the first quarter due to COVID-19 as it considers more tweaks following curbside pickup and appointment-only at stores.
Best Buy has been shifting its approach throughout the first quarter due to COVID-19 as it considers more tweaks following curbside pickup and appointment-only at stores.
Jet.com was critical to Walmart's e-commerce strategy and omnichannel efforts, but is no longer necessary.
The COVID-19 pandemic and stay-at-home orders drove demand for the online furniture retailer.
Since going to a curbside pickup retail model March 22, Best Buy has seen its sales fall. Demand for technologies to work and learn from home has been strong.
Stay at home orders have accelerated Wayfair's sales of home furniture and goods.
Groceries took up a bigger chunk of the digital shopping basket as did fitness equipment following shutdowns due to novel coronavirus.
Lululemon CEO Calvin McDonald said the company is pulling back on some strategic imperatives while stepping up digital, omnichannel and e-commerce investments.
Best Buy's strategy to offer integrated digital and physical consumer experiences seems to be working well.
The company also raised its outlook. Third quarter online revenue was 15.6% of total sales.
PayPal said that Honey will transform the company as well as engagement for consumers and merchants.