Best Buy 2012Chloe Chan, Onyuka Chinbat, Matt Fedorchak, Dan

Lamberti

Agenda• Company Overview• SWOT Analysis• Objectives• Recommendations• Conclusion• Q&A

Company OverviewFiscal 2012

• $50.7 billion in revenues

• 0.9% annual growth

• Operating profits dropped 54% → $1.1 billion

• Net income at -$1.2 billion

• Showroom for lower cost retailers → Amazon and Wal-Mart

• Digital tv sales declining, mobile devices on the rise

SWOT Analysis

Objectives

How can Best Buy:

• Increase customer traffic/sales

• Strengthen mobile/online presence

• Improve brand recognition

Website

• Personalized item recommendations

• Customer reviews

• Registry

• Order tracking

• Design

Social Media• Form of micro-blogging

• Benefits• Allows you to get a pulse of happenings

• Allows you to be responsive to customer issues

• Allows you to get the word out

• Fills in information gap

• Promotes business and brand

Best Buy Mobile App• 2011 Features (Based on Best Buy Release Notes)

• Shipping costs

• Search - easier and consistent

• Game trade-in values - reduced latency for more current

and accurate prices

• Recommendations

• Create user account (Reward points)

• Price Match

• Alerts & Reminders

• Store availability

• Deals of the Day

• 360 Image Rotation of Product

Credit Card• Financing options on large purchases

• Money back opportunity

• Connection to rewards and app

• Increased rewards

• Mobile payment option

• Store Display

• Customer experience

• Comfortable and relaxed environment

• Tech Support

• Free computer consulting services

• Apple’s Genius Bar

Store Layout Redesign

Conclusion• Website• Social media• Mobile app• Credit card• Store layout redesign

Thank You

Questions