Best Buy Goes Social

Bestbuystore.jpgRealizing that the Web is becoming more social, Best Buy made a great move by exposing their on-line product catalog to developers on the Web. Now website developers can include pictures, prices, searches, and reviews from www.BestBuy.com in their own sites. This program, called Remix, is similar to what Amazon and E-Bay have been doing for a while and even includes some revenue sharing.

Now that Circuit City is out of the picture, Best Buy must focus on their next biggest competitors, Walmart and Amazon. This move attacks both, and when combined with the ability to pick-up in the store and receive technical assistance from Geek Squad, really differentiates Best Buy in the electronics market. This, of course, is in addition to Best Buy's Community site which I discussed in this earlier posting.

This is exactly the type of innovation and use of technology that retailers should be considering. Oracle has been focusing on Web 2.0 technologies for the enterprise, including Oracle Mix.

Customers are treating shopping differently than in the past, with much more emphasis on the social aspects. Retailers must find a new perspective where the traditional boundaries aren't as well defined, and they must be ready to embrace the supporting technologies.

Comments:

I am probably not used to American shops but for my last trip I would only remember "Best buy... somewhere else"

They have really dubious practice their, trying to sell you broken hardware with a special hardware insurance... oops!

Posted by Laurent Schneider on January 26, 2009 at 06:19 PM CST #

Technology that retailers should consider is auctioning off gift cards. You get the money up front and increase in sales basket. The customer is getting a discount but without eroding your brand. At retailocity that is what we do.

Posted by Melissa on January 28, 2009 at 01:38 AM CST #

David, thanks so much for the mention here on the blog. We are making moves to innovate the brand in times while others are pulling back. We have already seen a great number of developers getting involved as well as the social media space. Thanks again!

Keith Burtis
Best Buy Remix - Community Outreach Mgr.

Posted by Keith Burtis on June 16, 2009 at 02:05 AM CDT #

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David Dorf, Sr Director Technology Strategy for Oracle Retail, shares news and ideas about the retail industry with a focus on innovation and emerging technologies.


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