In its Q2 2017 results, Best Buy reported a 24% revenue growth in its online channel, with its e-commerce business amounting to nearly 11% of its total sales in the quarter, 200 basis points higher compared to the previous year. (Read Key Takeaways From Best Buy’s Q2 Earnings). While comparable sales for the company increased by less than 1% in the quarter, the growth in e-commerce sales is a sign that the company’s digital initiatives are showing results. Best Buy has been taking several initiatives to boost its online channel, including: 1) testing same day delivery to major metropolitan markets across the U.S.; 2) creating an in-home consultation service; and, 3) better integrating the in-store and online shopping experiences. We see that a majority of Amazon’s revenues are from the sale of electronics, and we believe Best Buy’s efforts to bolster its online channel are showing results. The company has the advantage of a strong store network through which to demo products, which can give it a competitive edge over Amazon in the long term.

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