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New C&M analysis: Consumer Electronics (Australia) Dick Smith Electronics Pty Ltd Company Profile
Dick Smith Electronics Pty Ltd in Consumer Electronics (Australia) - a new company profile report on 2014-03-18 18:58:03
Dick Smith Electronics Pty Limited operates as a retailer and wholesaler of electronics products in Australia and New Zealand. It offers computers, communications, gaming, and entertainment products. The company serves companies and businesses, government, schools, and learning institutions. It sells its products online, as well as through its network of stores, which include retail and reseller stores; and franchise stores. Dick Smith Electronics Pty Limited was founded in 1969 and is based in Chullora, Australia. It has stores in Australian Capital Territory, New South Wales, Northern Territory, Queensland, South Australia, Tasmania, Victoria, and Western Australia. Having risen sharply in the wake of the global financial crisis (GFC), the national household savings ratio continued to flat-line in 2012, with many consumers feeling confident to spend again. This had a positive impact on popular consumer electronic categories such as LCD televisions and tablets. Similarly, national economic growth remained on trend at 3% real GDP growth and this helped stimulate volume growth for these popular products. However, value decline continued in 2012 across consumer electronics due to heavy price discounting throughout the year.

Consumer electronics retailers faced significant declines in revenue during 2012 due to price deflation. The key factors contributing to falling unit prices in consumer electronics included the higher Australian dollar against major currencies and more intense discounting by manufacturers and retailers alike as they sought to stimulate demand. In addition, the radical consumer shift towards online shopping has altered consumers´ value perceptions and price expectations in particular. Many traditional retailers were unable to meet these new demands, with Dick Smith Electronics rapidly closing unprofitable outlets and retailers WOW Sight & Sound, GAME and countless independent operators entering receivership.

Australian consumers are becoming empowered by the ease of accessing information at all times and in all locations. Australia has among the highest penetration of smartphones and tablets users in the world and this allows access to the internet, social networking websites and email while on-the-go. Australian telecommunications providers have launched 4G networks which resulted in faster internet service and an enhanced user experience. This has encouraged more Australians to conduct their shopping, communications and social networking while they are out and about, leading to higher demand for portable devices such as smartphones and tablets.

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