Maplin Electronics in UK ready to enter smart home installation market

Maplin, one of the biggest electronics retailers in the UK, is seeking a buyer to fulfil its 2020 goal – becoming a smart home device retailer and installer.

Maplin is reportedly unable to obtain credit and can only seek a potential buyer to resolve its financial problem. While in talks with potential buyers, the company was promoting its “2020 Vision Strategy” – not only selling gadgets, but also taking care of consumers beginning from sale, to installation and after-sale services.

Maplin has been known for selling products and electronics components, making it the only prosumer store of its type. However, in recent years, most of its consumer bases have turned to shopping online.

According to Maplin’s own research, the demand for smart home products in the UK surged almost 135% in 2017. Most sales were driven by smart speakers like Amazon Echo and Google Assistant, while some were by products like the Nest Learning Thermostat.

With hard-to-install products like smart switches and security cameras, professional installation is also in high demand.

British retailers John Lewis and Currys have begun to offer smart home installation services. The former works with local contractors to offer installation while the later provides the service with its Knowhow team.

It seems that entering the smart home installation market is the right path for Maplin. However, how to design the service to differentiate itself from others will be the biggest challenge. Currently Maplin offers Nest thermostat installation through a partnership with TSG. It also conducts smart home surveys to recommend new products for consumers.

The retailer now has more than 200 stores and 2,500 staff in the UK. The company hopes to strike a deal soon.