Update 2: CircuitCity.com is back up and running.
Update: According to the Huffington Post, "Circuit City Stores Inc. hopes to sell its brand, trademarks and e-commerce business to Systemax Inc., the same company that purchased electronics retailer CompUSA's intellectual property when it closed in 2008."
Circuit City closing down was obviously good news for electronics retailer competitors. But which ones are reaping the benefits the most? They are whom you’d expect: Best Buy and Wal-Mart.
Hitwise reports on where online consumers go after being greeted with CircuitCity.com’s Sorry-we’re-closed message. Twenty percent of them float downstream to Best Buy’s website. Ten percent go to Wal-Mart, followed by Kmart.com and Sears.com with four and two percent respectively.
Early this year, Circuit City announced that it was closing all of its stores after being in business for 60 years. Gizmodo is pointing to a screenshot from Circuit City's website now, however, suggesting that the company will be back in online form.
Let's acknowledge right now that there is a certain chestnut concerning hindsight and 20/20 vision. That said, an analysis of traffic data is starting to make it look like Circuit City's bankruptcy was, if not inevitable, at least not a completely random event.
Just last week Circuit City announced the closing of 155 stores which meant 155 fewer music stores. Today the retailer filed for Chapter 11 bankruptcy protection. According to the Associated Press:
Circuit City stock was perhaps rather attractive to some at around a dollar per share; in a weird twist it’s somehow less attractive at 39 cents—maybe it’s the stink of death all around it, maybe that’s what Blockbuster smelled when they pulled out of an acquisition deal.
So, while perusing Google's Hot Trends today I noticed a particular brand of digital camera was one of the top gainers in search queries: the Polaroid T730 Compact 7mp digital camera. Curious as to what's so special about it, I googled it, only to embark on one frustrating journey.
The Wall Street Journal this morning is reporting that Blockbuster (NYSE: BBI) is trying to buy beleaguered consumer electronics retailer Circuit City (NYSE: CC), which the market is not to thrilled about: Blockbuster stock dropped precipitously in early trading while Circuit City stock jumped up.
IBM has announced that it has teamed up with Circuit City to construct an online replica of the retail store within the virtual world of Second Life. The venture is geared at experimenting with the introduction of virtual worlds and 3-D technology into a cross-platform retail environment.
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