8 Major Problems Every Electronics Store Faces.

8 Major Problems Every Electronics Store Faces.

Electronics stores face unique challenges. There are only a few other industries that witness a similarly fast pace of changes.

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According to Statistica, the Global consumer electronics market will generate $1160 in revenue by 2025. The electronics industry is changing as quickly as electronic products evolve. There are few industries experiencing changes at this rate. This means that few industries face as many unique challenges.

While the growth of the electronics industry is an exciting prospect, it also produces plenty of unique challenges that require equally unique solutions. Business enterprises operating in the electronics industry need to find a way to remain profitable as the market gets crowded with more manufacturers. Companies are also managing outsourced products and processes, alongside customer demands for quality, latest technology, and faster delivery.

So, let’s go through the most common challenges faced by the electronics industry:

Challenges of the Electronics Industry

For the most part, the days of creating a product from start to finish in-house are long gone. Most electronics industry companies outsource at least some of their operations to be efficient and economical. Electronics products of the USA have most of their components manufactured in other countries such as China and Korea.

The same goes for computers and laptops. They are assembled in the USA, some having about 80% of their components imported from other countries. While outsourcing offers many benefits, such as low costs and competitive prices. It also creates a complex supply chain with far more points where things can become lost, out of compliance, or otherwise problematic. And blockage in one point might result in the entire supply chain bottleneck.

Ensuring Quality Control

The same complex supply chain also introduces the potential for quality control and management issues. There’s a trade-off between quality control and

outsourcing. Keeping components and processes in-house allows for easy visibility into quality. Whereas, outsourcing makes it harder to closely monitor the quality and processes.

Ultimately, it is the responsibility of the final seller to ensure every product is delivered of the same high quality. With so many electronics companies competing in the same market, one bad review can have a devastating effect on your business. It’s more important than ever to deliver quality products. Customers want a durable product that works with ease. Having stringent quality control measures ensures that the quality is consistent throughout.

Ever Changing Customer Demand

All the manufacturing industries are tied to customer demand. But the electronics industry is particularly challenging to predict. Customers expect you to have all the latest launches. Electronics store online has it extra difficult. As an electronic store owner, you need to carefully balance supply and demand. You don’t want either overstock or under-stock for your store.

The global marketplace is constantly evolving. No other industry experiences more change than electronics. There’s always some invention or constant addition of new features. In order to remain competitive, electronics stores must be able to keep up. And this challenge is common to an electronics store in USA and MNC tech-giants alike.

Short Product Life Cycles

Ever-changing trends and sudden shifts in customer preferences are major issues for electronic stores. Famous products such as smartwatches, fitness trackers, headsets, and new smartphones – are all part of “trends” in the electronics industry.

Customers change their demands as often as the weather. This means that if a particular headset is having huge demand today, it could be gathering dust a month later if a better replacement is launched. What this means for electronics store owners is to accurately predict the demand for every product. And keep up-to-date with all the new launches and products of the industry.

Providing Service and Warranty

Having good quality control measures in place ensures that only high-quality products are produced. However, sometimes things go wrong. Being able to service faulty parts as opposed to replacing products under warranty saves both time and money. It also allows electronics manufacturers to provide a greater level of customer service and increase trust in their brand.

Demand for Energy-Efficient Products

Electronics manufacturers are constantly facing pressure from consumers to develop products that don’t require much power. The demand for energy-efficient products is nothing new. People are becoming more and more aware of the environmental impact and added cost advantage of using an energy-efficient product.

Adopting a green manufacturing process can help, but manufacturers also must find innovative ways to develop products that won’t cost them as much to create or cost the consumer too much to buy while meeting energy-efficiency demands. It’s becoming more and more important for electronics manufacturers to produce smaller products that last longer and consume less power. This can be a challenge for manufacturers without the equipment or technology necessary to create new products. Contract manufacturers stay up-to-date with the latest technology and practices. They help companies produce new products without spending the cost and time involved with training and equipment.

Smart Electronics Devices

With the rising demand for Smartphone devices that have now become a necessity in our lives, consumers want everything to be “smart”. Smart TVs, smart security, and even smart refrigerators have been put on the market to meet consumer demand.

But smart devices have paved the way to smaller smart devices like smartwatches, cell phones, remotes, and other fitness devices. These smaller devices now require assembly of minuscule parts – adding another layer to the electronics manufacturing industry. Micro parts require micro-machines that are small enough to assemble these smart devices through microdispensing of adhesives, and this is where the challenge lies. There are only a few manufacturing companies that offer the microdispensing technologies needed for small smart device assembly.

Eco-Accommodating Procedures

Consumers are also becoming increasingly educated on environmental safety and taking this into account when selecting a product or company. Environmental change insights have caused businesses to investigate more eco-friendly assembling solutions, especially in the electronics manufacturing industry.

Things like carbon top and carbon exchanging are being investigated as a solution in green electronics manufacturing. New standards and regulations require electronics manufacturers to consider the environmental impact of a product’s entire life cycle. Every aspect must be considered, from the manufacturing process and the chemicals used to consumer energy use and disposal of the product.