Best Buy's holiday sales were solid, but the company warned of tough days ahead due to pricing pressure and weak demand for electronics. The fix: Step up its e-commerce efforts and moves to sell across multiple channels. If there's one lesson from holiday 2014, it's that retailers have to step up efforts to be more like Amazon and less like brick and mortar dependent players. For many retailers---like Macy's---that means fewer physical stores and more spending on information technology. In addition stores are also becoming distribution centers for retailers like Best Buy. Best Buy offers a good case study of the shifts in retailing. For instance, Best Buy delivered $11.4 billion in holiday sales and its U.S. business had a 2.6 percent gain in same store sales. Sales were driven by large screen TVs and mobile phones. Those gains offset "significant weakness in tablets." Best Buy said online sales were up 13.4 percent and more than half of that sales growth shipped from stores. http://zd.net/1ymNop8 http://bit.ly/1fJ5yqZ
Best Buy: We'll Need to Step up E-commerce Amid Sales Slump Ahead
Best Buy's holiday sales were solid, but the company warned of tough days ahead due to pricing pressure and weak demand for electronics. The fix: Step up its e-commerce efforts and moves to sell across multiple channels. If there's one lesson from holiday 2014, it's that retailers have to step up efforts to be more like Amazon and less like brick and mortar dependent players. For many retailers---like Macy's---that means fewer physical stores and more spending on information technology. In addition stores are also becoming distribution centers for retailers like Best Buy. Best Buy offers a good case study of the shifts in retailing. For instance, Best Buy delivered $11.4 billion in holiday sales and its U.S. business had a 2.6 percent gain in same store sales. Sales were driven by large screen TVs and mobile phones. Those gains offset "significant weakness in tablets." Best Buy said online sales were up 13.4 percent and more than half of that sales growth shipped from stores. http://zd.net/1ymNop8 http://bit.ly/1fJ5yqZ
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