Knowledge is power, so we’re giving it to you straight.
A presentation at KnowledgeFest on Tuesday by the Consumer Electronics Association (CEA) revealed that 32 percent of consumers prefer to shop for in-vehicle technology online AND 32 percent prefer to shop at a car stereo specialist.
But the study was performed in March 2010, and CEA director of research Steve Koenig told showgoers that by now, those preferring to shop online has surpassed those choosing to shop at a car stereo specialist.
By Q4 this year, online sales will account for 13 percent of consumer electronics sales, up from 12 percent a year earlier.
You can see on the chart that most consumers (63%) prefer to shop at general electronics stores like Best Buy. Next in line are mass merchants like Walmart (42%), followed by the “Automotive Electronics Store,” (which is a car stereo shop, said CEA) and online ecommerce.
Another take away from CEA’s presentation is that consumers believe salesmen are MORE knowledgeable at general electronics stores like Best Buy than at specialty stores.
One of the key messages at KnowledgeFest held in Dallas this week was to beef up your Internet presence, and promote a message of why your store is better than other shopping venues.
Source: CEA
In a state that has almost 10% sales tax and the ability to buy at my cost online, can you blame them? My cost and no sales tax makes an attractive offer. We are moving to support popular lines with the least amount of product online. Have a good customer base and great employees and the battle continues!
Specialty Retailers…
Create demand. Provide an experience that the “buy now button” and the clerk in the same colored shirts simply cannot provide. Know your competition. Highlight your strengths. Instruct ALL of your consumers every time to tell ALL of their friends about you.
Bring your “A GAME” every day.
Ray Windsor
German Maestro
Ihave always told our customers that we discount our labor when they purchase from us. You may not be able to charge enough more to make up the differance but explaning(with a friendly tone)about warantee on the whole job with our products about 50% will buy from us.
While internet shopping trends are undeniable, and will not be heavily impacted by independnt retailers, I find it distressing that there is simply tacit resignation to it. There are 12 volt retailers that are continuing to grow. There are strategies that can reinforce brick and mortar retailers. There are answers out there, and people willing to share the information. All that is needed is for retailers to seek it out and partake of it.