By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Wal-Mart has finally achieved its goal of becoming the No. 1 destination for CE.
There is, however, a caveat: According to BIGresearch’s most recent Retail Ratings Report, covering the month of May, the discounter was only tops in electronics among households with incomes less than $50,000. Specifically, 28.7 percent of consumers in this income stratum who were surveyed cited Wally World as the go-to place for CE.
Best Buy came in second place for this segment, with a “consumer preference share” of 26.5 percent, down from 27 percent a year ago.
But the electronics chain, which has made a concerted effort through its customer centricity strategy to focus on its most profitable customers, still dominates the hearts and minds of most CE shoppers. According to the ratings report, Best Buy’s total preference share rose 4.2 points to 33.2 percent last month, outpacing all its rivals including Wal-Mart, which gained 3.9 points to 20.2 percent.
Trailing at a distant third was Amazon.com, up 1.3 points to 2.4 percent, while Sam’s Club was at the bottom of BIGresearch’s short list, with its preference share essentially flat at 1 percent.
The full list follows:
Consumer Preference Share: CE
*CEI measures growth in share of consumer preference year over year. An index of 100 is flat, while an index of 105 indicates 5 percent growth.
Source: BIGresearch Retail Ratings Report, May ’09, based on survey of 8,000+ respondents
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.