In its second-largest acquisition, Amazon buys the company for $970 million.
Best Buy Co. has raised the curtain on its redesigned e-commerce site, promising to integrate its 350 retail stores with its catalog and online operations. The site initially will carry a full range of audio, video and portable electronics as well as CDs and DVDs, which the retailer already was selling online. "Best Buy seeks to pioneer the clicks-and-mortar revolution by creating a better shopping experience for our customers at every point we interact with them,'' says John Walden, president of BestBuy.com. "We are combining the best of traditional retail with the best of online to offer our customers an unprecedented opportunity to interact with one of the nation's most recognized brands.''
The Minneapolis-based company says customers making purchases online will be able to choose home delivery or store pick-up and can return or exchange goods through either option. Stores will be outfitted with Internet kiosks so that customers can order out-of-stock goods. The site's features include a side-by-side product comparison option, a "think about" folder where customers can store information about merchandise they have browsed and multiple angle product views.