Nationwide Execs: ‘Prepare for Share’ is Paying Off
Around 3,500 members and 10,000 storefronts comprise the group currently, and sales generated are at around the $15 billion mark, including the U.S. operations and the Cantrex Nationwide Canadian arm, represented at the meeting by Jeannine Ghaleb, president and COO. Knock said the goal is to increase membership by about 400 this year. Besides looking for compatible furniture, bedding and electronics members, the group is aiming at attracting ex-RadioShack dealers.
Nationwide is in the midst of a drive to provide dealers useful and actionable data through new analytics capabilities, said Frank Sandtner, executive vice president, member services. The initiative, called PriMetrix, ties into Prepare for Share and is a voluntary program provided at no cost to the dealer. It includes culling many different types of data, including information on store traffic and purchasing as well as media spend. “Dealers can get information on their own businesses and can also see themselves against an aggregate of everyone else,” he said.
Tom Hickman, executive vice president, electronics & distribution, reported on consumer electronics, saying that while the industry would experience an overall flat year in CE, “our mix will help us to be up.” That mix includes premium Ultra HD 4K and OLED TVs – categories that are “healthy for our members. We’re hopeful that [any price erosion] will be offset by unit growth. This being an Olympics year will also help,” he said. He added that the introduction and vendor promotion of High Dynamic Range (HDR) features in TVs will also aid in keeping margins elevated for a longer stretch.