Federica Laricchia
Research expert covering the global consumer technology industry
Consumer electronics retailers - statistics & facts
Do you want to buy a new smartphone or a new TV, but are undecided between the many brands and models and would like advice from experts? Or you already know and want to order it comfortably from your couch? Whatever you prefer, it is possible thanks to consumer electronics retailers - retail stores selling tech devices by many different manufacturers, from the more established market players like Apple, Samsung, Sony, and LG Electronics, to smaller companies. Over the past years, consumer electronics retailers have also developed their e-commerce platforms, where consumers can purchase devices online, offering consumers additional purchasing options and experiences.
Looking forward, consumer electronics retailers will keep playing a key role in the tech industry, trying to enhance their purchase experiences, in-person and online, with the advancement of innovative technologies.
Physical retail stores still have advantages over e-commerce platforms
Physical stores continue to have several advantages over online shops, such as seeing and touching the product, as well as face-to-face customer support. Every country hosts various chains of consumer electronics retailers, examples of which include BestBuy in the United States, Suning in China, and Dixons in Europe, with all of them generating billions in revenue every year. The Chinese retailer GOME counted almost 3,000 stores in 2023, whereas the American giant Best Buy had over 1,000 stores. In Europe, popular consumer electronics retailers vary based on the country. For instance, Germany’s biggest retailer is Ceconomy, which incorporates MediaMarkt and Saturn, and which recorded revenues of just under ten billion euros in 2023. If MediaMarkt is well known also in southern European countries like Italy and Spain, this is not the case for the United Kingdom, where Currys, formerly known as Dixons Carphone, is headquartered, counting 823 stores in the United Kingdom and abroad in the same year.Consumer electronics e-commerce progressively gaining popularity
Although some consumers still prefer physical stores and traditional shopping processes, e-commerce has grown in recent years – a need during the pandemic years that has now become another standard way of shopping. This trend is shown by the massive increase in e-commerce retail commerce sales, which are forecast to total over six billion U.S. dollars in 2024. Digital buyers, i.e. those who buy via digital channels, also contribute to the growth of the consumer electronics e-commerce industry, a market joined by numerous players. In 2023, apple.com was the leading electronics and media online retail store, followed by jd.com and Amazon.Looking forward, consumer electronics retailers will keep playing a key role in the tech industry, trying to enhance their purchase experiences, in-person and online, with the advancement of innovative technologies.
