Beware, this news may come to you as a bit of a shock. Sales of smartphones were actually down this year during the holiday season at Best Buy.
According to trusted sources, Best Buy didn’t have the greatest holiday season in terms of smartphone sales. Smartphone sales along with computer sales experienced a slight decrease when compared to last year’s holiday season numbers. At Best Buy, smartphone and computer sales declined 7.2% year-on-year in the United States. This is the second year in a row that Best Buy saw declines in these markets.
According to Best Buy, the decline was due to the increasingly popular wearable market, which saw a major growth spurt in sales. Rather than purchasing new smartphones, this year’s flow drifted towards fitness trackers and smartwatches. Best Buy also saw major gains in the appliances sector, which grew 13.4% year-over year. An executive from Best Buy blamed the lack of innovation in the smartphone market for the drought in smartphone sales and doesn’t expect it to pick up anytime soon.
Don’t get too caught up! Best Buy isn’t going anywhere. The retailer still owns a large piece of the pie when it comes to tech sales. Best Buy continues to dominate over competitors due to its large collection of gadgets and large variety of products. You name it, Best Buy most likely has it. Even though holiday sales didn’t reach the company’s expectations, that doesn’t mean that Best Buy’s total annual profits dipped. That remains to be a mystery.
It’ll be interesting to see what the shift is next year. What are your thoughts? Drop a comment.
Source: New York Post
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