A Myrtle Beach family-owned electronics store is closing, after more than 20 years in business.
The owners of AVAC - Audio, Video and Appliance Corp. - say it's nearly impossible today to make money selling TVs and electronics, in competition with big box stores.
Sometime within the next 60 days, the store will liquidate and go out of business. Owner Keith Ferrell says he and his family started out 23 years ago as the place to go for Tvs.
But he says the profit margin on televisions has eroded to practically nothing...
A tale of two technologies: analog audio and digital displays. As is typically the case in any industry, what might signify the best of times for a certain category could represent the worst of times for a different one. With innovation causing the scales to constantly shift, it’s not unusual for one sector to thrive at the expense of another.
The home audio segment of the CE industry certainly faced challenges during the last decade. Most major manufacturers and veteran retailers grew up during a time when analog ruled. That was forever altered when digital AV solutions captured consumers. Portable devices and downloadable content quickly established a foothold and drove down sales and production of physical media.
During this digital revolution, consumers were no longer focused on audio equipment; digital displays dominated and all manner of content was stored on portable devices and PCs. Spending on home audio took a backseat as consumers upgraded their analog televisions and amassed personal libraries of digital media.