Profile of retailer's shopper base, key performance indicators, sales and market shares
Best Buy's shopper base is fairly evenly distributed, with females accounting for 53.6% of the overall shopper base, and it exhibits wide appeal across age groups, with those aged over 65 accounting for a 24.8% share, followed by an 18% share for each of 25-34, 35-44, and 45-54 age groups. Best Buy's share of the US electricals market had been declining since 2017 as it has come under increasing competition from Amazon in particular, but in 2021 it registered a slight increase in share of 0.1ppt to 11.8%. Best Buy is upskilling its workforce for digital roles as it places more emphasis on its online channel, reinforced by COVID-19 lockdowns, as its online penetration rose from 20.2% in 2019 to 44.5% in 2020, and only fell to 41.5% in 2021.
Best Buy's shopper base is fairly evenly distributed, with females accounting for 53.6% of the overall shopper base, and it exhibits wide appeal across age groups, with those aged over 65 accounting for a 24.8% share, followed by an 18% share for each of 25-34, 35-44, and 45-54 age groups. Best Buy's share of the US electricals market had been declining since 2017 as it has come under increasing competition from Amazon in particular, but in 2021 it registered a slight increase in share of 0.1ppt to 11.8%. Best Buy is upskilling its workforce for digital roles as it places more emphasis on its online channel, reinforced by COVID-19 lockdowns, as its online penetration rose from 20.2% in 2019 to 44.5% in 2020, and only fell to 41.5% in 2021.
Scope
- Best Buy's broad store network and focus on customer service contributes to its wide customer base
- Best Buy's proposition will protect its share in 2023 as consumer spend on big-ticket items is threatened
- The retailer has a highly recognizable brand image in the US which can be used to enhance omnichannel operations
Reasons to Buy
- Gain a comprehensive knowledge on Best Buy's business and develop a competitive advantage
- Investigate current trends in the electricals market to identify the best opportunities to exploit
- Analysis of key players in the electricals segment in US
- Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the key consumer and technology trends influencing the electricals markets
- Analyze the recommended actions to align your marketing strategies with the crucial trends influencing consumer behavior
- Analysis of key international players operating in US electricals market - including store counts and revenues that give you a competitive edge and identify opportunities to improve your market share
Table of Contents
- Executive Summary
- Retailer’s Shopper profile
- Electricals shopper profile
- Where US consumers purchase electricals
- Retailers used for other categories
- Retailer overview
- Snapshot of proposition
- Key performance metrics
- Global retail sales
- Sales and market shares
- Electricals market
- Retailer’s market share
- Top 10 retailers’ market share
- Retailers’ share of shoppers
- Market positioning map
- Contacts
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Best Buy
- Amazon
- Apple
- Walmart
- Target
- Lowe's
- Home Depot
- Dell
- Costco
- Micro Center
