A New Wave of Opportunities for HES Dealers
Ristow and Bob Lawrence, BrandSource CEO, encouraged the dealers to work at forming tighter relationships with several key BrandSource/HES vendors, all of who are hungry to partner with them. Considering the state of some of the major large CE retailers - including Best Buy, Radio Shack, Sears and even Amazon.com, which suffered declining profits in 2012 - "you are the strongest group," Lawrence said.
Ristow added that HES and ProSource members have a combined buying power of about $3 billion. The group experienced double-digit growth last year in audio, home control/automation, large-panel TVs, lighting and shades, and commercial.
HES executives urged the dealers to do more in leveraging social media and other types of new marketing strategies to promote what they can do better than their big-box competitors, including product and solution demonstrations, across-the-board installations, the merchandising of better-and-best product categories, pushing higher ASPs, and the ability to be the consumer's go-to technology expert and solution provider.