Vendor View: VOXX’s ‘Organic Growth’ Road Map
Dealerscope: What other categories are you exploring or emphasizing at VOXX?
Malone: An additional area for us – the next foundational pillar for new technology – is becoming a core category. It’s wearable health and fitness. It’s too early to tell too much, but I will say that it links very closely to our enterprise direction with myris. Not that the products are linked; they are not. But the customer base is very linked to our strategy on health and wellness wearables. This will be clearer soon, but I can say that we love that space; we think there can be some very unique go-to-market strategies. Again, that’s another technology category that brings us into another channel. That is consistent with our message from CES: that VOXX Electronics will pioneer new categories, new technologies, new channels of distribution.
By non-traditional retail channels I mean that, let’s say, if today, you bring a wearable out, you may hit the retail channels and try and get floor space against Nike and FitBit and anything else out there. That will not necessarily be our approach; it will be more around enterprise and corporate wellness. It’s a different strategy, a different approach that we think has a lot of merit, and it’s still to be further defined. There is a retail component of it but it is, again, not going to be the traditional way of bringing a product to market.
We’re also going deeper into the Qi wireless charging category. We will be bringing out a larger suite of products. We think the wireless charging business is about to shift into another gear of growth, as phones start to incorporate the technology and consumers and retailers become more aware. If you can eliminate connecting your phone or your tablet and just set it somewhere and it will charge, we think that’s going to be high on the consumer’s list. We are fully developing a line of in-vehicle and home Qi charging products. We’re investing in that category because it has a lot of potential. Qi is a standard we believe will be accepted nationally. We know some car makers are already incorporating Qi into some of their higher-line vehicles. There are those now that are Qi-compatible, which means if there is a charger, you can charge them wirelessly, and we believe there will be more and more phones and tablets that employ Qi. So we want to make the charging stations – whether you just sit the phone on your counter, or in a dock, or sit it in a cup holder in your car.
All these products are magnets, and dealers are going to want to absorb any information we can give them. And we think they’ll be very enthusiastic because they’re great technology stories. 360 and myris are unique, one-off solutions in very crowded marketplaces of commodity products. They’re new and fun to talk about. And we will supply a host of materials to help support these very unique products so their stories can be told effectively. n