The company Element Electronics has moved the assembly of its larger televisions from Asia to Canton, Mich., and they’ve already sold out for the year now that several big box stores have taken notice. NBC’s Kevin Tibbles reports.
TORONTO — Electronics retailer The Source has the unusual fortune of having been in the right place for a long time.
While most peers in its sector are scaling back amid a prolonged period of product deflation and competition from Amazon, the Canadian chain once known as Radio Shack is seeing an upside from having a service-heavy local store format that is back in vogue with time-strapped consumers.
ByBenedict Tubuo (Beevest):The era of dominant technology platforms will fundamentally change consumer electronics retail and make Best Buy (BBY) and big box electronics retailers increasingly less relevant. Consumer electronics retail has been one of the most competitive and rapidly evolving segments over the last 10 years. It has evolved from hardware to software and to digital.
Remember how big-box stores with all their wide-open spaces and gleaming aisles of brand-name merchandise stacked to the ceiling wiped out the little guys in the past 15 years? How these predatory “category killers” and their triple whammy of competing on price, selection and service decided who died, survived or thrived in Canada’s retail industry?
Well, it appears consumers are rethinking their love affair with these giant outlets. In fact, the business of retail in Canada is in such a state of upheaval that scale and price matching no longer guarantee success.
See an item in a grocery store or general merchandise store and want to add it to your shopping cart if Amazon has it cheaper? Amazon's new "Flow" app allows you to do just that. MarketWatch reports You can now shop on Amazon by taking photos.
Connected TVs already have a pretty high penetration — 63% — in U.S. households with broadband access, according to a survey by The Diffusion Group. This penetration rate — which accounts for smart TVs and televisions that connect to the Internet through a third-party device like a Roku box — jumped 10 percentage points, growing from 53% in 2013.
Connected TVs are on pace to take over the television viewing experience. There will be more than 759 million televisions connected to the Internet worldwide by 2018, more than double 2013's number, according to Digital TV Research.
The street has been lauding Rona Inc.’s board for successfully wooing grocery turnaround veteran Robert Sawyer to helm the wayward home improvement retailer, but one analyst wonders how the company’s future store strategy will fare outside of Quebec.
Mr. Sawyer “is a man of action, focused on execution,” said retail analyst Keith Howlett of Desjardins Securities in a note to clients, questioning how the ex-Metro Inc. chief operating officer will handle a critical pillar of Rona’s future strategy, the rollout of urban “proximity” stores.