Out of Stock Online While Best Buys Are On the Shelf!
These days many major retailers profit from giving their consumers the convenient option of shopping online. However, electronics titan Best Buy (NASDAQ:BBY) is suffering in Internet sales due to “out of stock” messages appearing on its website despite the products being available at its outlets.
According to the Star Tribune, in fiscal 2012, only 1.3 percent of the 1 billion annual visits to BestBuy.com resulted in a sale, demonstrating just how few online visitors are transforming into actual shoppers.
At a recent Goldman Sachs dotCommerce conference, Best Buy’s Chief Financial Officer Sharon McCollam said “We’ve got 1,000 stores sitting with inventory and have just gotten done telling a customer they can’t have what they want.”