Best Buy’s online sales increase 13.4% during the holidays
January 15, 2015 12:34 PM
BestBuy.com performed strongly for the consumer electronics retail chain during the holiday season. The merchant says web sales increased 13.4% and brought in $1.49 billion in revenue for the nine weeks ended Jan. 3. Best Buy Co. Inc. says domestic comparable sales increased 3.4% during the holidays. Comparable online sales are included in Best Buy’s comparable-store calculation.
Across all domestic sales channels, total sales increased 4.1% during the nine-week period, bringing in $10.13 billion in revenue. Based on these figures, Internet Retailer calculates that the web accounted for 14.7% of domestic revenue produced during the period. That’s up from 11.5% during the 2013 holiday season(Best Buy’s holiday performance in 2013 ). Best Buy includes online sales under the heading of domestic sales.
Best Buy Co Inc. credits higher online conversion rates and the site getting more traffic as a result of its greater investment in online marketing. It also says its ability to ship online orders from all its stores played a role. “More than half the [online] sales growth was shipped from our stores,” says Hubert Joly, Best Buy president and CEO.
Best Buy is No. 15 in the 2014 Internet Retailer Top 500.