Circuit City: Electronics beat out clothes, jewelry on wish lists
Daily Press, VA
By MICHAEL FELBERBAUM | Associated Press Writer
RICHMOND, Va. – New market research shows electronics top the list of gifts men and women are looking to get this holiday season, retailer Circuit City Stores Inc. said.
Results from commissioned study shows electronics beat out clothing, sporting goods, jewelry and furniture, the nation’s No. 2 consumer electronics retailer said in a news release.
Electronics was the choice for 52 percent of the more than 3,000 men and women surveyed by Arlington, Texas-based Decision Analyst. Clothing was the second choice with 20 percent of overall respondents in the survey had an error margin of 2 percentage points. Jewelry ranked third with 11 percent.
Within the electronics category, flat panel televisions topped the list with 40 percent of respondents saying they wanted the high-end product as a holiday gift. Second choices differed with 12 percent of men wanting a computer and 19 percent of women wanting a digital camera, according to the survey. GPS navigation, video game systems, MP3 players and cell phones rounded out the list.
“We’re cautiously optimistic,” said Jackie Foreman, a spokeswoman for Circuit City. “We sell some of the products that Americans want the most as holiday gifts.”
The company also is boosting efforts this holiday season to educate consumers on the February 2009 plan for U.S. television stations to switch from analog to digital signals, making for better picture and sound. The efforts include educational pamphlets at stores and additional training for sales associates.
“Flat panel TVs are going to be a top choice among consumers,” Foreman said. “We certainly want to educate them about the best way to receive a digital signal at home.”
In September, Circuit City said it lost $62.8 million in its second fiscal quarter, on lower overall sales and continued restructuring activity, compared with a $10 million profit a year earlier. Sales slipped during the period, weighed down by softer sales of videos, camcorders and DVD hardware, among other items.
