E-Commerce

Best Buy has set a goal of doubling its $2 billion in annual online revenues within the next three years to five years as it reduces its total brick-and-mortar store square footage by 10 percent. Best Buy executives say these decisions, announced at its recent 2011 Investor and Analyst Day, are based on overall traffic growth, driven primarily by the company's web properties.

LivingSocial, one of the world’s largest daily-deal e-commerce sites, pulled in $400 million in financing almost two weeks ago, with nearly half of the money already deposited into the company piggy bank. The influx of cash will expand the company’s deal offerings.

About a month after offering its first discounted deals, Groupon's China site is attracting big user numbers, but still falls behind the local competition in sales.

Retail industry lobbyists in Indiana are trying to get state lawmakers to pass an online sales tax provision that they claim would result in hundreds of millions of dollars in revenue. The Indiana Retail Council and the Alliance for Main Street Fairness held a press conference in the Indiana Statehouse to ask for legislators’ support in requiring sites such as Amazon.com to pay sales tax.

Luxury lifestyle brand Tory Burch has officially relaunched toryburch.com on the Demandware Commerce platform. Combining e-commerce with its editorial content and social media, the new site reflects the style and personality of its CEO and founder, Tory Burch, while enhancing its customers’ online shopping experience.

eBay announced that it's agreed to acquire additional shares in GittiGidiyor, the leading online marketplace in Turkey. The deal follows eBay’s acquisition of a minority stake in the company in 2007. Upon closing of the transaction, eBay will own approximately 93 percent of the outstanding shares of GittiGidiyor.

Sears announced the expansion of beauty departments to more than 100 store locations and Sears.com. The new cosmetics departments will include beauty products from such well-known brands as L'Oreal, Maybelline, Revlon and CoverGirl, in a range of hues for every woman.

Need some Courtney Love in your life? Look no further than her designer wardrobe. The Etsy-obsessed rock star has set up her own eBay shop, fittingly named Courtney Love Couture.

All sorts of merchants are experimenting on Facebook. But does this mean Facebook is en route to becoming a major e-commerce player? Forrester Research analyst Sucharita Mulpuru says the answer is a resounding “No.”

The Olsen twins are entering the e-commerce style world. Mary-Kate and Ashley Olsen will help design T-shirts for StyleMint, an online recommendation/subscription site set to launch this July.