Best Buy, America's largest consumer electronics retailer, this week announced solid financial results for Q1 2019.

Total revenue and gross profit were up for the quarter, driven by rapid online growth.

Best Buy said its "big three" growth drivers are large home appliances, tablets, and wearable devices.

This chimes with new research from our WDE (Wearables) service, which found smartwatch shipments across North America jumped nearly +50% YoY during Q1 2019, driven by Apple Watch, Fitbit and others. Yes, wearables are booming.

However, the Best Buy CEO warned on US-China trade tariffs, which may push up the price of wearables made in China and imported to the US by as much as 25% in the coming months. Best Buy's purchasing team will have to get much smarter about which countries they buy their gadgets from.