By Prasanna Tati, staff writer
This week, the Internet was rife with rumors about Circuit City reopening its doors after being bankrupt for over eight years. Circuit City saw its sales boom in the 90s when consumers’ households were beginning to acquire and accumulate the new electronic items that frequently debuted in the new-age electronics market. In 2008, after the release and streamlining of online shopping through Amazon and other outlets became extremely popular, many large electronics retailers like Circuit City, Tweeter, and CompUSA went out of business.
Now, Circuit City is reportedly opening a new store in Dallas, Texas. In fact, the company plans to open up even 100 more stores within a year and 10,000 stores in the next five years all throughout the country.
A year after the company went out of business, it was bought by the electronics retailer Systemax to supplement its online site. After seven years of futile efforts, the project was abandoned just last year. The company was purchased again by two experienced New York based retailers who plan to downsize the stores and focus on popular electronics like tablets, smartphones, headphones, 3D printers, DIY devices, wearables, network equipment, video games, and drones.
The target consumer is the average millennial that usually buys electronics online at a retailer like Amazon. The Circuit City stores will feature electronic kiosks with a speculated million-SKU selection online complete with electronic price tags, customer service, and touchscreens.
The entire plan sounds undoubtedly like RadioShack’s attempt at rejuvenation just a few years ago. The company was bought by Sprint, and thus only offers Sprint wireless plans along with electronics aimed at attracting millenials. Though this plan has kept RadioShack alive, it is barely breathing as the online electronics retail industry continues to boom.