January 12, 2021
Consumers’ move to digital experiences and expanded store services is here to stay, said Best Buy CEO Corie Barry during her Jan. 12 keynote at the virtual CES.
“There isn’t a world where people revert back to their 2019 behaviors,” said Barry, who took over as chief executive of the retail chain last year.
She noted that her dad during the pandemic learned to order groceries for curbside pickup and is now “more comfortable with curbside in general.”
“It’s this comfort level more than anything else that will continue to push the envelope,” she said, adding “customer expectations will be raised in terms of what they can get done digitally.”
Best Buy instituted curbside pickup within the first three weeks of March as the COVID-19 outbreak began, she noted.
“People took immediately to more digital means [of finding products],” she said.
Also as the pandemic hit, products such as computers, webcams, and computer speakers were in high demand, as were home theater and gaming products.
One surprise was “how much people needed to be entertained at home,” she said.
Online sales grew 174% in Q3, with 40% of items picked up in store or curbside.
Going forward, she noted, “the store is going to have a massive role in fulfillment” of online orders.
Still, the in-store experience is important, especially in helping customers with complex technical problems.
“Our stores play a really vital role in that,” Barry said.
While some companies were concerned about the effect of the pandemic on their bottom line, Barry said that at Best Buy the view was to the customers’ experience and how it set the chain up for the future.
“We knew if we took care of them today, in the moment, that would be really important for our brand in the long term,” she said.