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Photo: Justin Sullivan/Getty Images.

A long-time fear among investors is that Amazon, the top retailer of consumer electronic products, will continue to eat away at Best Buy's market share. But traditional retailers are coming for Best Buy's niche, too.

What to watch: According to Michael Lasser, a retail analyst at UBS, healthy results from big-box stores in the consumer electronics category suggests there could be some "chipping away" at Best Buy's dominance in this area.

  • In Target's most recent quarter, electronics sales were a key driver in its "hardlines" category.
  • Costco also cited strong growth in its computer and tablet sales.

The other side: In a call with investors this week, Best Buy's CEO said the company has no intention of handing off its business to "mass retailers," or companies like Target, Walmart or Costco:

If you are a customer that is excited about technology and is looking for help and support in a relationship, we are building something that's very, very special and we feel it's working. So I know in the past there's been this idea that's once technology matures it goes to the mass channel and then we have to move on .. that's not at all what we're seeing.
— Hubert Joly, Best Buy CEO

The bottom line: There is always a risk that "specialty retailers" like Best Buy will see increased competition from retailers that sell a variety of merchandise, not just electronics. This is likely the reason Best Buy has put so much emphasis on its technology expertise (the Geek Squad) and has ventured into health services.

Go deeper

CDC: Fully vaccinated people can gather indoors without masks

Photo: Filip Filipovic/Getty Images

People who have been fully vaccinated against COVID-19 can take fewer precautions in certain situations, including socializing indoors without masks when in the company of low-risk or other vaccinated individuals, according to guidance from the Centers for Disease Control and Prevention released Monday.

Why it matters: The report cites early evidence that suggests vaccinated people are less likely to have asymptomatic infection, and are potentially less likely to transmit the virus to other people. At the time of its publication, the CDC said the guidance would apply to about 10% of Americans.

Dan Primack, author of Pro Rata
48 mins ago - Economy & Business

Ripple CEO calls for clearer crypto regulations following SEC lawsuit

Illustration: Sarah Grillo/Axios

Ripple CEO Brad Garlinghouse tells "Axios on HBO" that if his company loses a lawsuit brought by the SEC, it would put the U.S. cryptocurrency industry at a competitive disadvantage.

Why it matters: Garlinghouse's comments may seem self-serving, but his call for clearer crypto rules is consistent with longstanding entreaties from other industry players.

Republican Sen. Roy Blunt will not seek re-election in 2022

Photo: Alex Wong/Getty Images

Sen. Roy Blunt (R-Mo.), widely seen as a member of the Republican establishment in Congress, will not run for re-election in 2022, he announced on Twitter Monday.

Why it matters: The 71-year-old senator is the No. 4-ranking Republican in the Senate, and the fifth GOP senator to announce he will not run for re-election in 2022 as the party faces questions about its post-Trump future.