Retail in Asia

In Trends

JB Hi-Fi sales spike on tax breaks as retailer outruns the internet of things

JB Hi-Fi staff have been run off their feet in the past few weeks as small business operators upgrade computers to take advantage of the AUD20,000 (USD15,000) tax deduction announced in the federal budget. But over the longer term the trend of convergence and ‘the internet of things’ is set to shake up consumer electronics retailing.

The energetic types manning the cash registers at electronics retailer JB Hi-Fi, many with a sleeve of elegant tattoos running up their arm befitting the street-smart and slightly grungy ethos of the firm, haven’t had much time to think about the big-picture trends such as the "internet of things" in the past few weeks.

They’ve been run off their feet, with foot traffic booming, particularly in computer sales, as the lure of the tax deduction of up to AUD20,000 for small businesses drives a nice spike in sales after federal Treasurer Joe Hockey urged people in his May 12 budget to go out and spend.