Consumer Behavior

Best Buy, Amazon dominating consumer electronics market

Photo: Adobe Stock

August 14, 2024

When it comes to buying electronics consumers are flocking to two brands: Best Buy and Amazon.

That's a top finding from Numerator's Consumer Electronics Tracker report which provides insight each quarter on omnichannel buying behavior, according to a press release.

Best Buy and Amazon dominate the consumer electronics market, accounting for 31% and 27% of overall sales in select consumer electronics categories in the past year, respectively.

Additional findings include:

• June 2024 saw increased consumer electronics spending at Best Buy (31.8%), Amazon (30.3%), and Walmart (13.1%), while Costco (5.2%), Target (4.6%), and Sam's Club (1.5%) saw decreases.
• Most consumer electronics categories saw a slight decline in both household penetration and buy rate in the past year. Categories that saw growth in household penetration were computer monitors & peripherals (36% HHP) and video game consoles & accessories (29.7%).
• Gen X and Millennial shoppers are the most likely to purchase electronics throughout the year.