Sales of key categories slow down! Best Buy enters multiple new areas to seize market share!

Sales of key categories slow down! Best Buy enters multiple new areas to seize market share!

It is learned that Best Buy has expanded new sales categories in its more than 300 online and offline stores, adding electric bicycles, garden furniture and more than 100 kinds of skin care equipment including facial steamers. In addition, Best Buy is also entering categories such as fitness and furniture to occupy market share.

Best Buy's sales of more than $12 billion in the past decade mainly come from categories such as computers, TVs and appliances. After the outbreak, long-term home isolation has driven a sharp increase in sales of Best Buy's computer monitors, home theater equipment and kitchen appliances. As American consumers spend more on vacations and social activities, Best Buy's electronics sales are slowing down.

In 2021, sales of consumer electronics in the United States increased by 9% year-on-year to nearly $127 billion. Market research firm NPD Group predicts that sales of consumer electronics in the United States will fall by 5% in 2022, 4% in 2023, and 1% in 2024, but annual sales will still be higher than pre-epidemic levels.

It is learned that in recent years, Best Buy has been expanding its product sales range. For example, it has launched new fitness products, outdoor grills, electric bicycles, scooters and mopeds linked to sports brands, and later acquired Yardbird, a direct-to-consumer outdoor furniture company, but the acquisition amount was not disclosed. Best Buy has also acquired healthcare companies including GreatCall, which mainly sells elderly care equipment.



Editor ✎Estella/

Disclaimer: This article is copyrighted and may not be reproduced without permission.

<<:  The purchasing path of Generation Z in the United States is revealed! Social media influencers play an important role

>>:  USPS announces second quarter financial results for fiscal year 2022! Loss of approximately $1.7 billion!

Recommend

Primeday final countdown! Don’t panic if errors occur

The much-anticipated Prime Day is coming, and sell...

What is Helium 10? Helium 10 Review

The Helium 10 software suite includes more than a ...

Amazon Product Profit Calculator (with Instructions)

Profit Calculator Tutorial On-site profit trackin...

What is Big Cartel? Big Cartel Review

Big Cartel is an e-commerce platform tailor-made f...

What is Swiggy? Swiggy Review

Swiggy is an Indian food delivery platform. After ...

What is Eurojet Logistics? Eurojet Logistics Review

OJE Logistics Q&A is a knowledge community foc...

The secret of a 200% surge in orders, it’s not too late to click now

How to increase the number of orders? Experienced ...

Big event of the week! Amazon's Black Friday sales hit a new high!

Amazon's big sale breaks records again Amazon...

What is Mercari? Mercari Review

Mercari is a well-known C2C second-hand trading AP...

ChatGPT has evolved! A big seller has invested nearly 2 million!

It was observed that this morning, a topic #ChatGP...

Labor disputes at US and Canadian ports continue! Global supply chain hit again!

According to foreign media reports, the ongoing la...