$168.5bn
$X.Xbn
371k
54,093
$XX.Xbn
Consumer electronics stores rely on consumers' ability to purchase discretionary products. Since 2020, retailers have faced significant volatility, largely driven by rising economic uncertainty and weakening consumer spending. Although these trends began to reverse as social distancing regulations were lifted, rising inflation and prominent external competition prevented retailers from experiencing faster revenue growth. Weaker demand has also been enhanced by the popularity of smartphones, which have substituted products like cameras, radios and some video game consoles. The unfavorable economic conditions in recent years led to revenue falling at an estimated CAGR of 1.0% to $168.5 billion through 2024, including a 0.2% dip that year alone.
Industry revenue has declined at a CAGR of 1.0 % over the past five years, to reach an estimated $168.5bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Best Buy Co., inc. | 31,208.9 | 1,618.4 | 5.2 | |
Gamestop Corp. | 2,994.3 | -131.5 | -4.4 |
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Industry revenue is measured across several distinct product and services lines, including TVs and audiovisual equipment, Appliances and Services . TVs and audiovisual equipment is the largest segment of the Consumer Electronics Stores in the US.
Computer hardware and software remain the largest product segment
Consumer electronics stores retail a range of new appliances, electrical goods and home entertainment products, such as dishwashers, TVs and computers. Many stores also offer repair services and some stores sell used goods. This industry does not include stores that primarily sell computers (IBISWorld Report 44312).
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NAICS 443141 - Consumer Electronics Stores in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Many consumers still prefer brick-and-mortar stores for big-ticket items like appliances and TVs. This preference helps keep stores relevant and has somewhat slowed revenue d...
Learn about an industry's products and services, markets and trends in international trade.
Computer hardware and software generate the most revenue. However, the rise of software as a service threatens demand from this segment since software companies are increasin...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The distribution of establishments in the industry closely follows the spread of the US population. Retail industries generally rely on a large consumer base, so their locati...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Price, product range, customer service and location are key competitive strategies for consumer electronics stores. Since many stores offer similar products, pricing plays a ...
Learn about the performance of the top companies in the industry.
GameStop's growth is under pressure from online streaming. The increasing popularity of streaming video games, bypassing the need for physical equipment, poses a significant ...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Consumer electronics stores must follow standard labor laws and accessibility regulations. Retailers aren't subject to many industry-specific regulations, highlighting broade...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit has risen due to improving economic conditions. Although 2020 saw significant revenue and profit losses, economic recovery has since enabled profits to swell.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Consumer Electronics Stores in the US industry in United States is $168.5bn in 2024.
There are 54,093 businesses in the Consumer Electronics Stores in the US industry in United States, which has declined at a CAGR of 2.8 % between 2019 and 2024.
The market size of the Consumer Electronics Stores in the US industry in United States has been declining at a CAGR of 1.0 % between 2019 and 2024.
Over the next five years, the Consumer Electronics Stores in the US industry in United States is expected to grow.
The biggest companies operating in the Consumer Electronics Stores market in United States are Best Buy Co., inc. and Gamestop Corp.
Appliances and TV and audiovisual equipment are part of the Consumer Electronics Stores in the US industry.
The company holding the most market share in United States is Best Buy Co., inc..
The level of competition is high and increasing in the Consumer Electronics Stores in the US industry in United States.