Nationwide Marketing Group Meeting Begins
Ask any of the over 3500 retailers and vendors at Nationwide Marketing Group’s semi-annual meeting this week in Las Vegas if they’re planning on taking an early retirement with all the money they’re making on flat panels and you’ll get the same reaction: a laugh, a sad shake of the head. Though Nationwide’s 2800 members are reporting double digit growth in flatpanel sales so far this year, they all know that TV’s alone are no way to make a living.
“With the retail erosion in [flatpanel] pricing, we’re trying to instill the idea of solution selling,” says Mike Decker, Nationwide’s Vice President, Marketing/Electronics. “Many consumers will spend between $150-300 on cables... $99-500 on a mounting bracket...and an audio package in some cases that is equal to the cost of the TV. Our members are learning to sell a total solution that includes DirecTV, high-end cables, furniture and warranties.”
A group of 185 Vendors, offering everything from those high-margin electronics accessories to giant promotional blow-up dolls, are making deals with the over 2000 retailers gathered through Wednesday at the Venetian Resort. With temperatures outside hitting upwards of 105 degrees this week in Vegas, there’s very little (during the days, at least) to tempt anyone away from the showfloor. Still, members are breaking away to attend strategy sessions on topics like marketing, maximizing holiday sales, and store design.