Electronics Retailer Swooping In To Fill Circuit City’s Shoes
July 8, 2009 - 4:50 pm
By Al Harris
A major electronics retailer is opening multiple stores in Richmond this coming year, possibly taking over some locations left behind by Circuit City, including the former Short Pump Town Center store. Indianapolis-based hhgregg announced Wednesday morning they planned to open up to 22 stores, most of which will be located in Richmond; Tampa, Florida; and Memphis Tennessee.
One confirmed location will be at Hancock Village in Chesterfield County.
Developer Doug Horack told the Chesterfield Observer last August that hhgregg would take over the 30,000 square foot store that was originally slated to be a Circuit City location.
From the hhgregg press release:
During the past year, competitive dynamics within the consumer electronics industry and the real estate landscape have changed considerably, with a major competitor exiting the market and substantial real estate availability in both new and existing markets.
The retailer started as small appliance shop in 1955. It is still operated by the Gregg family and today has 112 stores located throughout the South and parts of the Midwest.
No confirmation yet if hhgregg plans to take over any of the six Circuit City stores around town, but brokers are reported to have been marketing the properties to them since they became available.
I would personally be very glad to see hhgregg come into the Richmond space. With Circuit City’s exit, we are in need of some competition. For me it’s not even as much about the prices as it is the assortment. From Wal-Mart to Best Buy to the Apple store, I think that we have most price bands covered. What I’m bothered by are the lack of product choices. I was recently shopping for a digital camera & wanted to buy a Panasonic. I visited Best Buy, Wal-Mart, & Target. Several of them had no Panasonic models at all, and one (I think Best Buy) had one very high end model. I ended up buying the camera online from Amazon & am glad I held out for the one that I wanted. More choices are always a good thing. Hopefully another consumer electronic s retailer would broaden the assortment. Welcome hhgregg!