First Assignment of E-Comerce

Submitted By: Muhammad Saifal

Roll# FA19M2MB075
Submitted to: Sir Muhammad Mossa

E company and E Money

Best Buy:
Best Buy Co., Inc. is an American multinational consumer
electronics retailer headquartered in Richfield, Minnesota. It was originally
founded by Richard M. Schulze and James Wheeler in 1966[2] as an audio
specialty store called Sound of Music. In 1983, it was re-branded under its
current name with an emphasis placed on consumer electronics.

Best Buy operates internationally in Canada and Mexico, and formerly

operated in China until February 2011 (when the faction was merged with
Five Star). The company also operated in Europe until 2012 Its subsidiaries
include Geek Squad, Magnolia Audio Video, and Pacific Sales. Best Buy
also operates the Best Buy Mobile and Insignia brands in North America,
plus Five Star in China.
  Best Buy sells cellular phones from Verizon Wireless, AT&T
Mobility, Corporation in the United States. In Canada, carriers include Bell
Mobility, Rogers Wireless, TELUS Mobility, their fighter brands, and
competing smaller carriers, such as SaskTel.
History Of Best Buy:
On August 22, 1966, Richard M. Schulze and a business partner opened
Sound of Music, an electronics store specializing in high fidelity stereos
in St. Paul, Minnesota Schulze financed the opening of his first store with
his personal savings and a second mortgage he took out on his family's
home. In 1967, Sound of Music acquired Ken craft Hi-Fi Company and
Bergo Company. Sound of Music earned $1 million in revenue and made
about $58,000 in profits in its first year In 1969, Sound of Music had three
stores and Schulze bought out his business partner.

In April 2010, Best Buy opened its first United Kingdom-based Best Buy-
branded store in Thurrock. The company eventually opened 11 Best Buy
stores in the United Kingdom. The company closed all UK-based Best Buy
stores in early 2012. In November 2011, Best Buy purchased The
Carphone Warehouse's share of Best Buy Mobile for $1.3 billion. Best Buy
and The Carphone Warehouse maintained their Best Buy Europe joint
venture, which at the time operated 2,500 mobile phone stores throughout
Europe.

During the lockdown and increased frequency of working from home,

caused by the COVID-19 pandemic, Best Buy announced that its US online
sales (increased purchase of computers, printers, tablets, fitness tech and
other gear) for the Q2 of 2020 tripled. They also reported that after opening
their physical stores, its brick and mortar sales also increased.

House brands:
Best Buy also produces products under eight house brands:

 Dynex – Discount electronic and computer equipment such as Blu-

ray players, data and power cables, HDTVs, office supplies, storage
media, and webcams
 Init – Storage products such as media storage, equipment bags,
totes, and furniture for home theaters
 Insignia – Electronic equipment, small appliances, and accessories
including adapters, cables, HDTVs, mini refrigerators, and tablets
 Magnolia Design Center (in select Best Buy stores) - design and
installation of custom home theater setups
 Magnolia Home Theater (in select Best Buy stores) – High-end home
theater selections for both audio and visual equipment, including 4K,
3D, and large televisions, projectors, receivers, and speakers
 Modal – style-oriented mobile accessories, including Bluetooth
speakers, cables, and cases
 Pacific Sales (in select Best Buy stores) – High-end appliances
 Platinum – Highest-quality in-house brand for the company,
producing many products, such as cables, cell phone accessories,
tablet accessories, and digital imaging equipment
 RocketFish – Cables primarily used with home-theater installation
and setup as well as on computer and gaming accessories
 RocketFish Mobile – Phone cases, gel skins, clips, and chargers for
cell phones, GPS, and other exclusive high-end products
  pay with points:
Forget checking the couch cushions for spare change. It’s time to check
your credit card rewards balance for unused points instead.
Best Buy customers can now use Citi ThankYou Points to pay for all or a
portion of most purchases made on BestBuy.com, making it easy and
convenient to redeem their points for top tech products.
Consumer electronics are already among the most sought-after redemption
categories in the Thank You Rewards program, and this partnership offers
a new, more versatile way for Citi Thank You members to get items they
want the most.
It’s a big win for consumers because they’re now able to redeem
points toward virtually any product sold at BestBuy.com, not just a
preselected assortment in a rewards catalog. Plus, they can take
advantage of sale prices, and they can opt for Store Pickup to get their
order right away. (Customers will be able to return items at any Best Buy
store, as well.)
“Our partnership with Best Buy is another important milestone for on-
demand points redemption that offers members the flexibility to choose to
cover all or part of any purchase made on BestBuy.com,” said Mary Hines,
Citi’s managing director for benefits, new product development and global
rewards.
The partnership between Best Buy and Citi is part of a broader trend of
consumers being able to use rewards points as currency. Last year, Best
Buy and American Express teamed up to launch “Pay With Points,” to allow
customers to redeem their American Express Membership Rewards points
to pay for all purchases at BestBuy.com (except e-gift cards).
To pay with points, Citi or American Express rewards members can simply
visit BestBuy.com, select the items they wish to buy and enter an eligible
credit card at checkout. They can then view their available points balance
and select how many points they would like to apply, up to the full purchase
amount. After completing the purchase, the full amount will be billed to the
customer’s credit card statement. They will receive a statement credit for
the dollar value of the points used within 24 to 48 hours.