Although Best Buy is in its quiet period before releasing holiday sales results on Thursday, analysts have been bullish on the company's strategy to recapture market share, though it may come at the expense of margins.
As seen in a slew of same-store sales announcements last week—when more than 10 retailers lowered their earnings forecasts for either the fourth quarter or the year—brick-and-mortar stores needed all the help they could get this holiday. Intense competition, the lack of a must-have item and low traffic caused many retailers to slash prices in an effort to ring up sales, most times at the expense of margins, they said.
New information from Bankrate, released Monday, showed that 1 in 4 shoppers spent less than they expected during the holidays, while only 14 percent spent more than they expected.
What's more, according to analytics firm ShopperTrak, retail traffic fell nearly 15 percent this holiday season.
But the news isn't all bad.
(Read more: Why a 15% drop in holiday traffic didn't matter)
Despite dwindling traffic, ShopperTrak reported that in-store retail sales rose 2.7 percent this holiday, slightly higher than its predicted 2.4 percent increase. Founder Bill Martin attributed the difference to shoppers going online to research products and then visiting stores with a purpose, knowing ahead of time what they are going to buy.
This is particularly true thanks to the explosion in mobile shopping, an area that saw sales rise more than 46 percent in the fourth quarter, according to IBM data. As a result, retailers are starting to get their act together, optimizing their mobile sites and integrating location features to connect with shoppers closer to when they make their purchases, Puleri said.
Martin echoed the importance of delivering an easy shopping experience at the physical store and online.
"Retailers who deliver a seamless customer experience both in the store and across all channels will emerge ahead of the rest," Martin said.