Marketplace has a new podcast for kids, "Million Bazillion!" EPISODE OUT NOW

Best Buy’s website is trying to take on Amazon

Conrad Wilson May 22, 2014
HTML EMBED:
COPY

Best Buy’s website is trying to take on Amazon

Conrad Wilson May 22, 2014
HTML EMBED:
COPY

Best Buy announces its first quarter earnings Thursday. 

The retailer has struggled to compete online against companies like Amazon and Overstock.com, which matters more as more people shop online.

The University of Washington’s Jake Thornock said traditional retailers like Best Buy are trying to take back what they’ve lost from e-tail companies.

“What we’re seeing at a higher level is unfettered competition in the retail space,” he said.

“There was this sort of fragmented perception that consumers would always go towards an online only company if they wanted to make an online purchase.”

But Ravi Bapna, who teaches information systems at the University of Minnesota, said it’s tough to compete against a digitally sophisticated company like Amazon.

“Best Buy being a traditional company, I don’t think it has that sort of mindset or that sort of infrastructure digitally to be at that level of sophistication right now,” he said.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.