Best Buy remained the store of choice for consumers shopping for electronics this holiday season with an overall share of 28.8% – i.e., over a quarter of all consumers headed to the big box for their electronics purchases – according to BIGresearch’s latest Retail Ratings Report for November 2007.
However, Best Buy is in a fight for top place with Wal-Mart among consumers who report a household income of less than $50,000. Best Buy’s share among this segment is 25.9%, compared with Wal-Mart’s 24.3%.
Best Buy is the clear winner among consumers with a household income greater than $50,000, with a share of 38.6%, compared with Wal-Mart’s 11.1% and Circuit City’s 9.9%.
Although Best Buy remains a strong competitor in the electronics category among all consumers, it has experienced a loss in share compared to November 2006 with a Consumer Equity Index (CEI) of 95.14 (CEI measures growth in share year over year).
The only stores with a positive growth in share are Amazon, Sam’s Club and Costco – though their overall shares are only 1.2%, 0.7% and 1%, respectively.
About the data: BIGresearch’s Retail Ratings Reports (RRR) are available monthly for 12 major merchandise categories. They are developed from BIGresearch’s monthly Consumer Intentions & Actions (CIA) Survey of over 7,500 online interviews. In addition to income breaks, the RRR are segmented by age and gender.
