Small gadgets fare best
August 9th 2010 09:34
From: News Centre
Discounters and warehouse clubs like Target, Costco and BJ's Warehouse said in monthly sales reports that demand was low for electronics, particularly televisions, causing some retailers to miss their own forecasts for June. Best Buy did not report monthly sales.
The U.S. Census Bureau's monthly retail report for June showed electronic sales rose 1.3 percent from May and 7.3 percent from June 2009, indicating to analysts that consumers are still spending on electronics but for different items.
"When you see these kinds of disconnects, it's largely driven by the fact that consumer preferences are changing," said Shawn DuBravac, chief economist and research director at the Consumer Electronics Association.
"What it shows is that the tech sector can change rapidly, and retailers are in an ever state of flux trying to keep up," DuBravac said.
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