But tech sales still static as bargain hunting takes toll.
New York, NY, May 18, 2015 –(PR.com)– Best Buy remains the ranking technology merchant in the land, once again outperforming No. 2 Walmart and third-place Amazon.com on TWICE Magazine’s annual Top 100 Consumer Electronics Retailers Report, released today.
But despite Best Buy’s solid lead, having sold $30 billion worth of TVs, smartphones, video games and other gadgets in the U.S. last year, Amazon is giving it and Walmart a run for their money. Tech sales for the online-only retailer were up more than 15 percent domestically to $12.4 billion, despite a tough marketplace in which sales for all electronics retailers fell approximately 4 percent in 2014.
The rankings, produced for TWICE by market research partner The Stevenson Group/TraQline of Louisville, Ky., also reveal a modest showing by No. 4 Apple Stores, where waning iPad demand offset stellar sales of iPhones. Elsewhere on the Top 100, sales at RadioShack (No. 10) fell 17 percent as the iconic electronics chain slid into bankruptcy, although the biggest percentage decline belonged to Sony’s retail stores (No. 46), whose sales nosedived 77 percent as the manufacturer pulled the plug on the 11-year-old operation.
Total sales for the 100 largest electronics retailers topped $130 billion in 2014, but were essentially flat for the third year in a row, the TWICE report shows. Why? Deep discounting by manufacturers and retailers is partly to blame, while some stores are reducing their electronics assortment in favor of more profitable and decidedly lower-tech products like furniture and mattresses.
But while the industry is down, it’s certainly not out. “Big-ticket items like jumbo-sized 4K TVs with their stunning, hyper-sharp displays could lift retailers out of their doldrums,” observed TWICE senior editor Alan Wolf. Also giving rise to a retail renaissance is a new generation of Internet-connected devices that will allow consumers to monitor and control their homes using only their smartphones, Wolf said.
To learn more about the TWICE Top 100 Consumer Electronics Retailers Report visit www.twice.com.
TWICE Magazine (This Week In Consumer Electronics) is the leading information source for consumer electronics and major appliance retailers and manufacturers. A property of New York-based NewBay Media (Broadcasting & Cable, Guitar Player), TWICE produces a bi-monthly magazine, four e-newsletters and two websites – the flagship TWICE.com and its sister site eWearnow.com.
Alan Wolf, Senior Editor
John Laposky, Editor in Chief