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Technology / Networks

Best Buy plans to cut online prices to compete with Amazon

US based consumer electronics retailer Best Buy is planning to reduce online prices of merchandise to compete with Amazon.

Best Buy president of digital, global marketing and strategy Stephen Gillett was quoted by Bloomberg saying that "Best Buy sets prices for televisions, tablet computers and smartphones based upon "what is selling online, what is selling in the store, what is selling with the competition."

In another development, Best Buy has named Scott Durchslag as its senior vice of president and president of online and global e-Commerce effective 8 October 2012.

In his role, Durchslag will report to Gillett and will be responsible for the companty’s global e-commerce channels, including and mobile commerce.

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Prior to joining Best Buy, Durchslag was president of online travel agency Expedia Worldwide.

Durchslag was also a McKinsey & Co. partner and was COO of Skype before it was acquired by eBay and also managed several mobile business divisions at Motorola.

Best Buy president and CEO Hubert Joly said: "Scott’s arrival at Best Buy signals our determination and commitment to create a world class customer experience – both online and in our stores."

In April this year, Best Buy’s chief executive officer and director Brian Dunn had resigned during an investigation into allegations of ‘personal misconduct’.

This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.