Best Buy 2015 Annual Report Download - page 6

Download and view the complete annual report

Please find page 6 of the 2015 Best Buy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 111

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111

5
Our strategy continues to be focused on delivering Expert Service. Unbeatable
Price. to our customers. Within this strategy, we are driving a number of growth
initiatives around key product categories, “Life Events” and Services. In support
of these initiatives, we are pursuing and investing in the transformation of our
key functions and processes.
To move this strategy forward in FY16, we will continue to implement the two-
year road map we laid out at the beginning of FY15 and that I shared with you
last year. We have made progress against this road map in F15 and are
confident in our ability to continue this progress this year.
Our road map is structured around several key priorities:
1. Merchandising: We will continue to create a compelling assortment online
and in stores that provide a superior end-to-end customer experience and
yields enhanced financial returns. In support of this, we are planning to
continue rolling out more vendor experiences, as well as additional Pacific
Kitchen and Home, and Magnolia Design Center stores-within-a-store.
2. Marketing: We are continuing the evolution from analog and mass, to
digital and personalized marketing. This includes the ongoing
development of our Athena customer database to create even more
targeted and relevant communication with our customers. As another
example, we will ramp up our home-mover and wedding registry programs
as a way of better assisting consumers during key events in their life.
3. Online: Our goal is to serve customers based on how, when and where
they want to be served. We will continue to enhance the omni-channel
customer experience, whether a consumer is seeking to buy products or
services on BestBuy.com, through our Best Buy app or in our stores.
4. Retail Stores: We will continue driving increased sales effectiveness
through a focus on individual sales productivity, and enhance the customer
experience with expert service and a compelling, physical environment.
5. Services: Our plan is to continue transforming our traditional service
offerings to better address customer needs, while increasing our
investments in the marketing of our Services offerings and better
integrating Geek Squad into BestBuy.com.
6. Supply Chain: We remain intent on leveraging our network and improving
the customer experience with increased inventory availability, faster speed-
to-customer and improved home delivery and installation.