CE Retail Confidence Rebounds on Back of Strong Big Box Performance
The Dealerscope CE Retail Confidence Index (DS Index) shot up nearly 14 points heading into March, ending a sharp two-month skid that saw the survey reach its lowest total on record. Consumer electronics retailers checked in with a confidence score of 175.3 for the month of March, an increase that was driven mostly by a strong performance from the Big Box segment of the industry.
Every individual store type segment saw their overall confidence score rise heading into March—a solid sign for the spring months—but Big Box stores in particular had a notable month. The national chain segment saw its confidence score rise nearly 40 points month-over-month to 227.45, less than 4 points shy of the record high that this segment set in December. The increase comes on the heels of Best Buy’s way-stronger-than-expected Q4 financial report, which sent the company’s stock skyrocketing.
All things considered, though, this hasn’t been a great start to 2019 for the retail industry. The DS Index has been tracking down all year, and the March score is no different, coming in more than 10 points shy of the three-year average for the month. This report also comes shortly after the National Retail Federation reported weaker than expected sales performance during the 2018 holiday shopping season—that, despite the fact the association found consumers remained confident about the state of the economy.