It's no secret that the retail industry, as a whole has been struggling. Since May in particular, JB Hi-Fi — one of Australia's biggest and most successful retail businesses — has faced a number of difficulties. But according to its new CEO, they've turned things around in the last quarter. Why?
Apparently video games were a big help.
More specifically, sales of new consoles like the Xbox One and the PlayStation 4.
According to Richard Murray, JB Hi-Fi's new CEO, increased stock of both consoles has been a massive driver. September and October, apparently, signalled a return to growth for the retailer, which makes sense considering the influx of new games in the lead in to Christmas.
A "market-wide decline" in tablet sales was apparently part of the widespread retail issues that caused JB Hi-Fi to struggle between May and August.