Best Buy (NYSE:BBY) and American Express (NYSE:AXP) announced a new e-commerce partnership that enables U.S. card holders enrolled in membership rewards to use their points for online purchases at BestBuy.com. The points can be used by shoppers to make purchases for delivery, or buy online and pick up in-store.
"In our stores and online at BestBuy.com, our customers expect choice and flexibility from us on how they pay for and receive the consumer electronics they want," said Mary Lou Kelley, president of e-commerce at Best Buy. "We are excited to partner with American Express and allow card members the ability to convert their membership rewards points into the latest and greatest consumer electronics products and services."
The partnership enables card members to use membership rewards points for all or part of their BestBuy.com purchases and to check their points balance before they complete a purchase. Also, Best Buy gives shoppers the option of pickup in-store within the same day, as 70 percent of U.S. consumers live within 15 minutes of one of Best Buy's 1,400 locations.
In the spring, American Express announced a new customer loyalty program that attempts to give more options on the redemption front. The program will allow shoppers to rack up points with multiple select retailers and use them at participating stores.
"Our Card Members love shopping at Best Buy and we wanted to provide them with more value, choice and flexibility each time they check out," said Leslie Berland, exec-VP, global brand, marketing and digital partnerships, at American Express. "We worked closely with Best Buy to integrate this seamless experience that further enhances the utility of our world-class Membership Rewards program in a powerful, new way."
In an effort to make shopping as convenient as possible for its customers, Best Buy has added in several new omnichannel services over the past year. For example, in February the chain announced a partnership with shopping app Curbside, which will allow customers to shop from their mobile phones and promptly pick up their orders curbside at the retail store.
-See this American Express press release
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