Retail - Electrical & Electronics

Retail is the sale of products from a fixed location such as a marketplace, a mall or a shop in small individual lots for direct consumption or purchase by the customer. Retail pricing comes in two ways: cost-plus pricing which involves a markup amount to the retailers cost; and suggested retail pricing which involves charging the amount suggested by the manufacturer which is usually printed on the product.

Retailers have 'benefited' from the technological advances of today by making existing products outdated almost immediately. Consumers feel compelled to own the latest electronic gadgets. Because of this, retailers in Australia earn more whenever a single or batches of new electronic items are released into the market. Some of the electronic products that appeal to the Australian market include bigger and better television systems such as LED and plasma flat screens, mobile phones, laptops, tablets, and other communication devices.

There are a number of government and nongovernment organisations that promote and support the Australian consumer electronic industry and these include the Consumer Electronics Suppliers Association and Australian National Retailers Association (ANRA). These organisations represent the specific interests of the retail industry to government.

Tips when buying electrical and electronic items in a retail store

When buying an electronic item from a retail store, make sure that it does not have any defects by having it tested in front of you. Check the specifications and compare it with the performance of the item.

Be wary of salespeople who do are not knowledgeable about the item you are going to buy. They may not know how to operate the device or do not know the difference between different items in terms of specifications. Before you go to the retail store, make sure that you have done your research and written down all the specifications that you need and ask for someone knowledgeable.

Some electrical and electronic items come with package deals. Be wary of these deals especially when they include items you normally do not need for a slightly higher price. You have the option to remove these additional items and pay only the product you want.

Be wary of refurbished items. There are some items with prices that are too attractive. It may have been sent back to the manufacturer, spruced up and resold at a discounted price.

Check for the items warranty and read the stores return policy just in case you need to return the item. Most retail stores offer a grace period of a few days to a week for damaged items to be returned.

There is often no need for you to go for the extended warranty (with some exceptions). These are usually not worth the money.