PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
When seeking to deliver the best and most focused e-commerce site content, retailers must know their customers very, very well, BestBuy.com’s John Thompson told the Internet Retailer 2006 Conference this week.
When seeking to deliver the best and most focused e-commerce site content, retailers must know their customers very, very well, says BestBuy.com.
There are numerous ways to communicate with customers, and e-retailers must draw on all of them to accumulate and analyze information on customers’ wishes and needs, John Thompson, senior vice president and general manager at BestBuy.com, said in a Featured presentation, “Delivering Web Content That’s Focused on Customer Needs,” at the Internet Retailer Conference & Exhibition, June 6 in Chicago.
“Customers are unique, and e-retailers need to create customer databases to best understand them,” Thompson said.
“Know your customers, listen to their needs and focus sharply on their unmet needs. In the process, make certain to stay true to your brand and not make investments you can’t pay for,” he said.
Multi-channel retailers like Best Buy, which operates six e-commerce sites and 930 retail stores, have far more opportunities than pure-plays and catalogers to understand and address customer needs, Thompson said. “Multi-channel retailers must have very engaged employees on the front lines of all sales channels, employees who can learn a ton about shoppers’ desires and in turn help mold online content.”
It’s a “customer-centric journey,” he said, that requires retailers to stay on top of change and prioritize methods to quickly meet changing customer needs. Best Buy is No. 11 in the Internet Retailer Top 500 Guide to Retail Web Sites.