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Improving Best Buy

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Improving Best Buy
Gregory C. Long
Athens State University
LSM 301: Introduction to Logistics & Supply Chain Management
October 26, 2014

Abstract
Best Buy is a business that can thrive with a few changes to the company. There are several improvements that the company could make to help with areas like sales and in becoming more competitive with the other retailers in the industry. Some of those areas include online sales, the size of retail locations, merchandise display, return policies, loyalty program, the Geek squad, and public relations. Improving in some of these areas will make the store more competitive, more attractive to customers, and improve the overall likeness of the company. In …show more content…

Online sales for best Buy has drastically changed over the last few years with such online giants in retail like Amazon and eBay. The days where customers physically go to stores to check out merchandise and gain hands on experience about the product is almost over. Customers are now using online stores in order to make purchases. This change has negatively affected the sales of more traditional stores like Best Buy.
Increasing the growth of online sales should be a top priority for Best Buy in the near future. By updating it’s website to become more appealing to customer is the first change that needs to happen. According to UBS AG, “Best Buy has over 1 billion annual online visitors, but only 1 in every 100 visitors make a purchase on its website.” In order to increase its web traffic, Best Buy will ultimately have to increase its web conversion …show more content…

This improvement will offer customers exclusive deals and improve their in store experience. By modifying the existing ninety day expiration window with the loyalty program, customers will be willing to stay associated with the store longer, in turn building a better relationship with its customers. To stay competitive with other stores, Best Buy should change this program so that the loyalty program will carry over even longer periods of time. Some stores have it where the program doesn’t end at all. That might be something that Best Buy wants to look into. If customers feel that they can get a better deal somewhere else, they tend to go with the better deal. According to techjournal.com, “the push for non-expiration-date reward began with American Express and IHG (a hotel chain) and later expanded to other industries such as airlines, grocers, and financial services.” Below is an example some loyalty programs that could be

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