Maplin: net worth in the United Kingdom (UK) 2011-2017
UK-based electronics retailer Maplin has had better years than 2017, the year in which the retailer’s net worth collapsed to a negative value of 2.07 million British pounds. Bad days for Maplin started in 2015, when the retailer’s net worth took a very steep dive from 166.11 million British pounds. In 2018, Maplin went into administration which resulted in shutting down all of its 200 stores in the UK and Ireland, joining the growing list of UK retailers who shared a similar fate since 2008.
Online killed the consumer electronics store
An obvious trigger in Maplin’s financial decline is the competitive edge online sellers and e-commerce platforms have on electronics retail. Not unexpectedly, Amazon was the leading online retailer in this segment in the UK based on its e-commerce net sales. Among other retailers in this category, only Argos and Currys had physical presence in UK highstreets, so far successfully blending online and store sales of consumer electronics.
How does the UK consumer market look?
Consumer electronics is a market where there is no shortage of consumer appetite. With new releases, trends and technologies introduced every year, the market is constantly growing and evolving. In the UK, the revenue from consumer electronics has shown a steady and positive trend, with the last quarter of the year usually generating the highest amounts.
Online killed the consumer electronics store
An obvious trigger in Maplin’s financial decline is the competitive edge online sellers and e-commerce platforms have on electronics retail. Not unexpectedly, Amazon was the leading online retailer in this segment in the UK based on its e-commerce net sales. Among other retailers in this category, only Argos and Currys had physical presence in UK highstreets, so far successfully blending online and store sales of consumer electronics.
How does the UK consumer market look?
Consumer electronics is a market where there is no shortage of consumer appetite. With new releases, trends and technologies introduced every year, the market is constantly growing and evolving. In the UK, the revenue from consumer electronics has shown a steady and positive trend, with the last quarter of the year usually generating the highest amounts.
