BOARDMAN, Ohio (WKBN) – Big changes are coming to the retail electronics market, and one local expert thinks it is part of a larger trend.
Radio Shack announced it will close 1,100 stores around the country and Best Buy is laying off nearly 2,000 management employees. The cuts are blamed on sluggish sales during the fourth quarter of last year.
Dr. Ramesh Dangol, YSU Department of Management, said fewer customers are going to stores and are instead using the internet to make their purchases.
Online customers can view product information and consider customer reviews while making a decision about a purchase, which is more convenient.
“Instead of going to Best Buy and getting information from the Best Buy associate, we just go online and look at the customer reviews posted online,” said Dangol.
Dangol adds that improved smart phone and computer technology is eliminating the need for consumers to have to buy separate items to take pictures, search the web or listen to music. He predicts electronics businesses will eventually need to re-tool and offer a more diverse product line to attract customers.