40 Under 40
Retailers aren’t the only segment of the industry putting in extra effort to overcome current challenges. Trent Davis, product manager at Audio Authority, a developer and manufacturer of AV components, said his company has to be as flexible as ever in providing dealers with specific products they can easily sell.
“We do a lot of business with big retail stores, which is hard because they are not building new stores or redoing displays. But, in custom integration, they are doing good business if you give them the right product,” he said. “We’ve hired more engineers and decided to be aggressive; build better products more quickly. We’ve added resources to get better stuff out faster. More product development, better development, rather than hunker down and wait it out until this is all over.”
Many of this year’s inductees told us that few of the industry players they deal with are hunkering down. Instead, they’re using the time to come up with new products, and marketing and merchandising strategies to help consumers find what they want at the right price and with the right services. All for a good reason, as Michael Somar, DBL Distributing’s senior business analyst, points out: despite the economy, people are still buying CE products.