NATM Members Prove Value In Tough Markets
Several members said they have adjusted to the continual price drops. The lower prices mean more traffic, which leads to more sales. “There’s nothing that draws customers like TVs at a good price,” Samuels said.
Simon Sedek, an electronics buyer with Electronic Express, said the retailer has offset those lower prices and leveraged the additional customer traffic by selling more mounts and installation services. Those services are included with about 45 percent of the large-panel TVs purchased, he said. Being inside the customer’s home makes it easier for Express’s installers to sell additional products, such as surround-sound systems and DirecTV services, Sedek said.
To help its member access more products at better prices, NATM is increasing its partnerships with Chinese manufacturers of a variety of electronics, Maund said. NATM will also continue to help members cut costs from their businesses to lower their generally high SG&As and improve forecasting by working directly with their main vendor partners, Trawick said. He is also working more closely with vendors to let them know that NATM members can successfully sell any product they have to move. This strategy has lead to better pricing and marketing programs, Trawick said.