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BIGresearch's November Retail Ratings: Best Buy on Top for Store Shopped Most Often for Electronics
However, Best Buy Battles It Out With Wal-Mart for Top Spot Among Consumers With Household Incomes Less Than $50K
| Source: BIGresearch
COLUMBUS, OH--(Marketwire - December 11, 2007) - Best Buy continues to be the store of choice
for consumers when shopping for electronics this holiday season with an
overall share of 28.8%, indicating that over a quarter of all consumers
head to the big box for their electronics purchases, according to
BIGresearch's (http://www.bigresearch.com) latest Retail Ratings Report for
November 2007.
However, Best Buy is tangling 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 to Wal-Mart's 24.3%. Best Buy is a clear
winner among consumers with a household income greater than $50,000, with a
share of 38.6%, compared to Wal-Mart (11.1%) and Circuit City (9.9%).
"It's easy to see why Best Buy is competing for the top spot with Wal-Mart
among lower income shoppers," said Gary Drenik, President of BIGresearch.
"This is a 'sweet spot' demographic for Wal-Mart; these consumers are
already in Wal-Mart stores for a myriad of other categories such as
groceries and HBA, so it's convenient for them to make a trip down the
electronics aisle while they are there."
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. However, it is important
to note that their overall share is only 1.2%, 0.7% and 1%, respectively.
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. For
a sample of the November report for Electronics (all consumers and those
with household incomes less than $50,000), please click the following link:
http://info.bigresearch.com/.
About BIGresearch
BIGresearch is a consumer intelligence firm providing solution-based
insights of consumer behavior, present and future, in areas of products and
services, retail, financial services, automotive and media. BIGresearch
conducts the monthly Consumer Intentions and Actions Survey (CIA) of 7,500+
respondents and the semi-annual Simultaneous Media Survey (SIMM) of 15,000+
respondents. More information is available at http://www.bigresearch.com.