Brand Source: Appliance Business Strong, Despite Economy
“It’s clear that you refuse to participate in the recession.”
That’s what Brand Source CEO Bob Lawrence told attendees on Day Two at the buying group’s annual National Convention and Buying Fair, as he rattled off shipment growth percentages that reflected increases in many of the product categories the group handles. He said that while the industry was down 7.8 percent in appliance shipments, BrandSource’s appliance business was up 1.5 percent on the whole. In consumer electronics, with the industry up three percent in shipments, BrandSource CE shipments were tracking at nine percent up from last year. And in furniture, with the industry down 5.5 percent in shipments, Brand Source members’ numbers were up 5.3 percent.
Lawrence noted that certain long-held industry beliefs – namely, that bigger is better at retail – are no longer true. “The aggregation of ‘small’ will be the new ‘big,’” he said. “Size no longer equals success. And the old demographic will have new needs,” he added, “as ‘Help Me’ replaces ‘DIY’ on the salesfloor.”