Updated: Aug 9
A third of USA households have three or more smartphones. The U.S. mobile phone accessories market size was valued at $28,529.3 million in 2018 and is projected to reach 74,443.7 million by 2026, registering a CAGR of 13.7% from 2019 to 2026. A mobile phone is a wireless handheld device that allows users to establish any form of connectivity. Mobile phone plays an important and vital role in modern everyday life. Nowadays, mobile phones allow the users to access internet, take pictures, and listen to music as well as feature as storage devices. People also add value to their mobile phones through different mobile accessories that enhance the functionality of the equipment as well as protect the phone from damage.
CONVENIENCE STORES VS CELL PHONE ACCESSORIES
Most of the C store’s owner continue selling low quality cell phone cell accessories and they have lost the customers interest. The consumers are buying cell phone accessories from convenience stores when they are on emergency and half of the time it doesn’t even work or it takes too long to charge the phone. The C stores owners are only selling low quality USB cables and car charges. When customers need premium quality phone accessory then they go to Walmart, best buy or Staples. This mean C store’ owners are sending a revenue to other business’s and which is not a great idea. There is a still time to wake up and it will take some time to repair the reputation and I guaranteed If they start selling the good quality products then consumers will not go big box stores to buy good quality mobile phone accessory.
When you sell low quality products then your profit margin is only 50 to 60% margin and when you sell premium quality products then you can mark up 90 to 100%.
The increase in the demand for wireless accessories such as portable mobile speakers and Bluetooth handsets, is one of the major factors that drives the growth of the market. At present, it has been observed that people prefer to listen to music on portable devices such as smartphones and tablets, through music streaming platforms, which include YouTube and SoundCloud. In addition, advancements in the smartphone market such as wireless charging and quick charge facility, have helped overcome the issues of battery life in smartphones. The technologies such as quick charging, are enabling smartphones to restore their battery backup in less than 30 minutes, which reduces the usage of power banks, as an external battery source. So, these technologies such as wireless charging and wireless devices such as headphones and speakers are boosting the demand for wireless accessories in U.S., which further drives the growth of the U.S. mobile phone accessories industry.
Cell Phone Cases
It is a one of the growing and profitable products in USA and profit margin is almost 1000%. But this product is only available at big box stores or cell phone repair shops. If convenience store owner start selling the cell phone cases then they can increase the store sale.