Dealer Profile: Still Crazy After All These Years
"We're contracting out the e-tailing," said Gemal. "A third party has the inventory. You have to take shortcuts in the world today, much like Amazon or Toys R Us, you work the brand and contract out the services for the most part...I don't like business plans that involve sales and margins. I like the creative business plans that have organic growth involved. That's what we're looking for."
Part of that creative plan involves launching a social media campaign early this fall, run by Ike's Gen-Y brother, Adam, which will invite avid Facebook, Twitter and YouTube users to "Become the Next Crazy Eddie" by creating and uploading their own audition videos.
Generating a new round of buzz could be just what the Gemals need to fuel other ventures, like giving lines of inexpensive "but quality" CE accessories the Crazy Eddie name. Ike Gemal says they're currently looking to create a branded 79 to 99-cent earbud which could be available nationwide at convenience stores like 7-11 or Wawa (the family is talking with both, along with major box stores like Wal-Mart and Target). They plan to expand the www.pricesareinsane.com website dramatically in the coming year as well, offering rock-bottom deals on limited-supply CE products and cross-promotions with the one-special-a-day specialist, Woot.com. Down the road, the family is considering opening a handful of actual Crazy Eddie stores, though their focus would be small, express-format stores mainly showing floor samples of products but encouraging customers to use the website.