Wrestling Opportunity From Change
With retailer consolidations, store closings and format wars, the industry has changed dramatically in the last year. CompUSA struggled over several years to carve out a niche, ending in a rather abrupt—but not surprising—exit from the business. Circuit City, trying to stave off its demise, is now reinventing itself as “The City”—with a smaller, warmer and laser-focused footprint that offers limited SKUs.
Best Buy is Best Buy, Apple retail stores carry limited SKUs, while Wal-Mart slowly inches its way to the top of the CE retailing heap.
How can a retailer understand and leverage the opportunities created by these changs (and disparate models) to capture more accessory sales, one of the most profitable categories in consumer electronics? The good news is there are a number of strategies available for retailers and manufacturers—especially those savvy enough to realize change means opportunity.