Best Buy 2000 Annual Report Download - page 7

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Capitalizing On an Evolving Marketplace
The expansion of the Internet is changing the face of retail. To capitalize on
this trend, we are leveraging our more than 350 retail stores and our estab-
lished, loyal customers as a springboard into the e-commerce realm. The
BestBuy.com™ site is an obvious extension of our retail stores and will
benefit from the assets of our bricks-and-mortar locations, including our
existing customer base, brand awareness, national advertising, vendor
alliances, supply chain, service capabilities and warehousing.
In turn, we believe the site can acquire new customers into our enterprise,
while enhancing the loyalty of current Best Buy customers. Products will be
available for both home delivery and in-store pickup. Customers can make
returns and exchanges, and receive additional products and services at our
retail stores, something pure e-tailers cannot offer.
The growing importance of strategic alliances demonstrates the increasing
link between the offline retail sector and the burgeoning online world.
Our comprehensive alliance with Microsoft Corp. will provide us with
additional financial and technological resources to provide our
customers with end-to-end technology solutions, not just products.
Positioned To Lead the Industry
We look forward to the challenges and growth opportunities in the
coming year. Led by our talented employees, proximity to all major
U.S. markets and increased Web presence, we are confident that we can meet
our customers at the intersection of technology and life. Best Buy,
as a consumer-centric company, is committed to provide customers—
anytime and anywhere—the best shopping experience available. We are
driving tremendous consumer excitement for products and services of the
new digital era.
I believe our Company is entering a period of unprecedented opportunity—
for our customers, employees,business partners and for you, our valued shareholders.
Richard M. Schulze
Founder, Chairman & CEO
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