Attitudes: Time To Try Something New
2012 was a miserable year for most CE retailers. It’s clearly time to start trying something different.
Collectively, the industry’s top 101 retailers (see page 28 for full story and rankings) generated $233.49 billion in sales, a paltry 2.76 percent more than the $227.22 billion they earned in 2011. Many of the big boys, including Best Buy, Staples and Sears, continue to close stores.
Independent retailers typically fare better than the nationals during tough times—mainly due to the deep relationships they’ve forged in their communities, their flexibility, the protection from broader economic trends that tertiary markets often afford—but they shared an equal amount of pain. Vann’s declared bankruptcy and major buying groups reported that CE sales through many of their regional dealers were down for the year.