Skip to main content

Big Box Retailers Enter Upscale CE Sector

Twice magazine reports that the two chains that bring fear and loathing to regional and smaller independent consumer electronics (CE) retailers � Best Buy and Wal-Mart � are now focusing in on the profitable, upscale part of the CE industry as never before.

Best Buy confirmed that it will take its customer-centric store format to all of its stores. The chain's brand-name stores, along with Magnolia Audio Video, posted a 14 percent increase in revenue during its last quarter. And Best Buy plans to add 200 Magnolia Home Theater in-store shops for a total of 300 by the end of this fiscal year.

As for Wal-Mart, there is a test store in Plano, Texas, which is clearly targeting upscale CE products. There is a department staff that is trained in CE, a more sophisticated ambiance and HDTVs from the likes of Hitachi, Panasonic and Sony. While this is currently a new concept store, if successful Wal-Mart will quickly begin to roll them out in other locations.

Popular posts from this blog

Shared Infrastructure Leads Cloud Expansion

The global cloud computing market is undergoing new significant growth, driven by the rapid adoption of artificial intelligence (AI) and the demand for flexible, scalable infrastructure. The recent market study by International Data Corporation (IDC) provides compelling evidence of this transformation, highlighting the accelerating growth in cloud infrastructure spending and the pivotal role of AI in shaping the industry's future trajectory. Shared Infrastructure Market Development The study reveals a 36.9 percent year-over-year worldwide increase in spending on compute and storage infrastructure products for cloud deployments in the first quarter of 2024, reaching $33 billion. This growth substantially outpaced non-cloud infrastructure spending, which saw a modest 5.7 percent increase to $13.9 billion during the same period. The surge in cloud infrastructure spending was partially fueled by an 11.4 percent growth in unit demand, influenced by higher average selling prices, primari