NPD: Best Buy, Walmart Take Circuit City Share
The primary beneficiaries of Circuit City's demise, in terms of dollar share in the CE business, were Best Buy and Walmart, who together have grabbed two thirds of Circuit City's business. That's according to a report, "New Look at Retail: Post Circuit City," released Monday by research firm the NPD Group.
In the nine months after Circuit City's shuttering in March 2009, Best Buy increased its market share in flat panel TVs by 5.2 percent, notebook PCs by 5.5 percent, and digital cameras by 5.5 percent, while Walmart saw increases in those categories of 3.2 percent, 2.3 percent and 2.7 percent, respectively.
“As its nearest competitor, both in store locations and in consumer perception, Best Buy was certain to be the big beneficiary from Circuit City's closure,” Stephen Baker, vice president of industry analysis at NPD, said as part of the announcement.