Best Buy Touts Data Project as Key to Turnaround
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Best Buy, in the midst of a turnaround effort, is touting a data project dubbed Athena as key to its future.
During a conference call with analysts, CEO Hubert Joly said an overhaul of the company’s marketing approach will be a key initiative over the next two years. The company plans to develop more targeted, relevant, personalized communications for customers using Athena, he said. That will include targeting customers based on past purchases, browse history, location and demographics.
“With Athena in place, over time, we will be able to shift more of our marketing efforts to targeted e-mail messages and offers,” Mr. Joly said. “[We will] implement programs for key buying occasions like gifting, life events and registry, and new movers, in addition to creating greater engagement with customers for our loyalty program and our credit card offering.”
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