Consumer electronics retailer Best Buy reported higher than expected sales in its first quarter earnings report out Thursday. The company, which experienced a slump in online sales, ultimately took about a 7 percent hit on the stock market following the release of the report.
Online sales, as a percentage of revenue, fell from 22.5 percent this time last year to 12 percent. This is due in part to big name competitor Amazon who has flexed its muscle within the online marketplace across all industries.
Yet, here at Dealerscope we’ve covered Best Buy’s recent rebranding and what Amazon can’t fully offer to its consumers (at least for now). That is an unmatched in-store experience allowing customers to try products, mostly receive them same day and the opportunity to interface with a technology expert.