Consumer Electronics Stores in Canada - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 44314CARevenue
$15.6bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
36,529
Businesses
5,543
Wages
$X.Xbn
Consumer Electronics Stores in Canada industry analysis
Consumer electronics stores have exhibited mixed performance in recent years. Electronics retailers offer a broad spectrum of goods, including TVs, computers, tablets, refrigerators, washing machines and blenders. Stores have struggled because of strong competition from mass merchandisers, including discount retailers and department stores and the continued rise of e-commerce outlets. The large shift in consumer spending from services to goods during the pandemic unexpectedly boosted revenue in 2020 as demand for consumer electronics rose. However, this wasn't enough to offset the overall slump in revenue caused by strong external competition. Revenue for consumer electronics stores is expected to dip at a CAGR of 1.2% to $15.6 billion through the end of 2024, despite a forecast increase of 0.1% in 2024 alongside growth in consumer spending and per capita disposable income.
Trends and Insights
- Consumer electronics stores have consistently declined amid the growing popularity of e-commerce. Stores will benefit from a growing number of consumers visiting their online platforms.
- Consumer electronics are provided by manufacturers that depend on offshore production. Supply chain issues earlier in the period impacted the sourcing of these goods, though such challenges have lessened.
- The geographic distribution of stores closely follows the Canadian population. This is typically the case with retail industries because they rely heavily on consumer purchases.
- Online retailers pose a notable threat to brick-and-mortar stores. Locations that survived the 'retail apocalypse' during the past decade typically offer a wide range of products and high-quality customer service, which may include device repairs.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 1.2 % over the past five years, to reach an estimated $15.6bn in 2024.
Trends and Insights
External competition contributed to overall declines in revenue and the number of locations
- Brick-and-mortar retail has waned and consumer electronics stores have endured declining revenue for many years. E-commerce retailers can offer lower prices because they have fewer overhead costs, which appeals to cash-strapped consumers.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Competition from e-commerce will reduce the total number of locations
- External competition from e-commerce outlets will continue to weigh on consumer electronics stores over the next five years. As e-commerce sites like Amazon grow in popularity, this will continue to siphon dollars away from retailers.
Biggest companies in the Consumer Electronics Stores in Canada
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
The Source Electronics Inc. | 591.1 | N/A | N/A | |
Visions Electronics | 121.2 | N/A | N/A | |
Teletime Superstores | 13.6 | N/A | N/A |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including TV and audiovisual equipment, Computer hardware and software and Appliances. TV and audiovisual equipment is the largest segment of the Consumer Electronics Stores in Canada.
Trends and Insights
Appliances are the primary source of revenue for stores
- Consumer electronics stores' revenue is dominated by major appliances, including refrigerators, freezers, washing machines, ovens and stovetops, as well as small appliances, like mixers, blenders and toasters.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Hobby & Toy Stores in Canada
- Office Supply Stores in Canada
- Used Goods Stores in Canada
- E-Commerce & Online Auctions in Canada
Complementors
- Electronic & Computer Repair Services in Canada
International industries
- Global Consumer Electronics Manufacturing
- Consumer Electronics Stores in the US
- Computer Stores in the US
- Camera Stores in the US
- Photographic Equipment Retailing in Australia
Table of Contents
About this industry
Industry definition
The Consumer Electronics Stores industry in Canada retails a range of appliances, electrical goods and home entertainment products, such as dishwashers, TVs and computers. Industry operators purchase goods from manufacturers or wholesalers, which are then sold to the general public in stores or online. New purchases dominate the market, but many stores also offer repair services, while some sell used goods.
What's included in this industry?
Retailing consumer electronics (e.g. radios, TVs, digital cameras, video games and computers)Retailing mobile phones, smartphones and accessoriesRetailing new household appliances (e.g. refrigerators, washing machines and ovens)Retailing new personal appliances (e.g. hair dryers, curling irons and electric razors)Offering repair services with retail operationsCompanies
The Source Electronics Inc.Visions ElectronicsTeletime SuperstoresPurchase this report to view all 3 major companies in this industry.
Related Terms
BRICK-AND-MORTARBLU-RAYPOINT-OF-SALE (POS)RADIO-FREQUENCY IDENTIFICATION (RFID)SMARTPHONEIndustry Code
NAICS 4431 - Consumer Electronics Stores in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Consumer electronics stores have consistently declined amid the growing popularity of e-commerce. Stores will benefit from a growing number of consumers visiting their online...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Consumer electronics are provided by manufacturers that depend on offshore production. Supply chain issues earlier in the period impacted the sourcing of these goods, though ...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The geographic distribution of stores closely follows the Canadian population. This is typically the case with retail industries because they rely heavily on consumer purchas...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each province in 2024
- Number and share of revenue each province accounts for in 2024
- Number and share of wages each province accounts for in 2024
- Number and share of employees in each province in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Online retailers pose a notable threat to brick-and-mortar stores. Locations that survived the 'retail apocalypse' during the past decade typically offer a wide range of prod...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Most consumer electronic stores are relatively small. These firms serve local or regional markets and have limited opportunities to expand.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of The Source Electronics Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Visions Electronics's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Teletime Superstores's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for The Source Electronics Inc., and factors influencing its performance in the industry
- Description and key data for Visions Electronics, and factors influencing its performance in the industry
- Description and key data for Teletime Superstores, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Consumer electronics stores receive no regular assistance from the government. However, some establishments were eligible for pandemic-related tax deferrals and subsidies.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchases remain the largest regular expense for stores. Goods are often acquired on credit, which requires long-term relationships with suppliers and banks.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Assets (2017-2022)
- Liabilities (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Consumer Electronics Stores industry in Canada in 2024?
The market size of the Consumer Electronics Stores industry in Canada is $15.6bn in 2024.
How many businesses are there in the Consumer Electronics Stores in Canada industry in 2024?
There are 5,543 businesses in the Consumer Electronics Stores industry in Canada, which has declined at a CAGR of 3.6 % between 2019 and 2024.
Has the Consumer Electronics Stores industry in Canada grown or declined over the past 5 years?
The market size of the Consumer Electronics Stores industry in Canada has been declining at a CAGR of 1.2 % between 2019 and 2024.
What is the forecast growth of the Consumer Electronics Stores industry in Canada over the next 5 years?
Over the next five years, the Consumer Electronics Stores industry in Canada is expected to grow.
What are the biggest companies in the Consumer Electronics Stores market in Canada?
The biggest companies operating in the Consumer Electronics Stores market in Canada are The Source Electronics Inc., Visions Electronics and Teletime Superstores
What does the Consumer Electronics Stores in Canada include?
Retailing consumer electronics (e.g. radios, TVs, digital cameras, video games and computers) and Retailing mobile phones, smartphones and accessories are part of the Consumer Electronics Stores industry.
Which companies have the highest market share in the Consumer Electronics Stores in Canada?
The company holding the most market share in Canada is The Source Electronics Inc..
How competitive is the Consumer Electronics Stores industry in Canada?
The level of competition is high and increasing in the Consumer Electronics Stores industry in Canada.
