While electronics and appliance specialist retailers saw a sharp decrease in retail constant value sales (2021 prices) during 2020, as they were forced to close for an extended period, this decline was limited to single digits. Discounts, promotions and new products drove sales in electronics and appliances specialist retailers in 2020.
Consumers in Mexico have several channels through which they can buy electronics and appliances, including e-commerce, hypermarkets, discounters, variety stores, department stores and warehouse clubs. The factors that set electronics and appliance specialist retailers apart from others are product specialisation and the product knowledge of their sales staff.
After 13 years of operations, the Best Buy chain exited Mexico during early 2021 – ceasing online operations, as well as closing all of its physical stores. Best Buy was the fourth-largest player among electronics and appliance specialist retailers in terms of retail value share during 2020, and it was the leader as recently as 2019.
The retail constant value sales of electronics and appliance specialist retailers are set to post robust growth during the forecast period, but they will not exceed their 2019 level until 2025. Ongoing growth in the popularity of e-commerce will be the main drag on growth, with this channel set to account for almost a quarter of retail value sales of consumer electronics by 2026 and almost a fifth of those of consumer appliances.
COVID-19 underscored the necessity of electronics and appliance specialist retailers embracing e-commerce, and most specialist retailers markedly have significantly increased investment in their online operations during 2020 and 2021. However, electronics and appliance specialist retailers expanding their operations online must also contend with mounting competition in the e-commerce realm from companies such as Amazon.
Mounting inflationary pressure will also have a negative effect on growth in the retail constant value sales of electronics and appliances specialist retailers during the early part of the forecast period at least. This will make many local consumers more price sensitive.
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Understand the latest market trends and future growth opportunities for the Electronics and Appliance Specialist Retailers industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Retail outlets specialising in the sale of large or small domestic electrical appliances, consumer electronic equipment (including mobile phones), computers or a combination of these. For mobile phone retailers, this excludes revenues derived from telecoms service plans and top-up cards, etc. Example brands include Apple, Best Buy, Euronics, PC World, Darty, But, Media Markt, Yamada Denki, Gome (China).See All of Our Definitions
This report originates from Passport, our Electronics and Appliance Specialist Retailers research and analysis database.
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