As more brick-and-mortar retailers close their doors—Circuit City, Blockbuster, Ritz Camera, CompUSA and Dixons, among others—and Amazon becomes more and more powerful, I am constantly asked by our manufacturer customers about how best to navigate an increasingly challenging landscape.
I was recently asked by a formidable and very successful CEO just what, in my opinion a CMO should be focused on to ensure profitable investments and company growth. Of course, as you can imagine, I took a big gulping breath, smiled courteously while curtailing my own personal mixed emotions of always living on the edge through my sales and marketing career.
Rick Souder, COO and executive vice president of merchandising at Crutchfield, spent his early working years in management positions at The Gap and U.S. Shoe Corporation. While he valued the experience he gained there, he’ll tell you there’s nothing in the apparel business that matches the excitement of selling consumer electronics.
The Consumer Electronics Association’s president and CEO reflects on his 30 years at the International CES’s parent organization, and takes a look at what the industry’s retailers and manufacturers can expect in the future.
Using the time-honored tactics of obfuscation, misdirection, and a little bit of fear, the people who try to sell you TVs can hit you with some heavy-duty lies.
Now this isn't to say that all TV sales people are bad, nor that any necessarily do this out of malice (there's plenty of misinformation out there confused as truth). But when it's your dollar on the line, being prepared with some facts can only be a good thing.
For a primer on all the jargon, check out "TV tech explainer: Every HDTV technology decoded."
Greg Regelbrugge, vice president national accounts, Western U.S., is leaving that post today to become president and CEO of Vann's.
Holding company McMagic Partners LP, part of the Khaledi Group, closed a $4.5 million dollar deal on the bankrupt consumer electronics and appliance dealer Tuesday. The Texas-based Khaledi Group manages dozens of companies, including the HK Global Duty Free chain of electronics stores.
CompUSA and Circuit City are both going away once again.
Also announced today was the decision to exit the PC manufacturing game, at a one-off cost of $6m to $8m. The company believes the move will allow the "strengthening [of] its strategic relationships with vendor partners within the desktop PC category [and] should provide improved profitability of between $1m and $2m" each year. Meanwhile, Systemax's US consumer brands are to be united under the banner of TigerDirect, its largest operation. The CompUSA and Circuit City monikers are to be retired, at a cost of about $34m, which will show up
Alan L. Wurtzel, the former chairman and CEO of Circuit City Stores Inc., said the now-defunct consumer electronics retail giant ultimately failed because it lost its way and was unable to make the needed changes in time to survive the recession.
"I think Circuit City declined in three stages," said Wurtzel, son of Circuit City's founder Sam Wurtzel.
He cited a lack of focus from one of his successors, the inability to follow through on plans from another and a clash of cultures brought about by the last CEO.
I strongly believe that if we are not forcing our own obsolescence, our competition is doing it for us. These words apply whether you’re a CE manufacturer, retailer, dealer or distributor. Each day the phrase takes on greater meaning and importance as we collectively troll through a rough-and-tumble business defined by constant change.
First of all, it’s an honor to contribute to Dealerscope, a publication with complementary digital assets that has served my teams well for the last two decades in our quest to build brand, accelerate product push and gain competitive channel advantage. My leadership experience as executive vice president of ViewSonic, senior vice president of Samsung Electronics, and senior vice president of Circuit City informs my CE-centric observations that focus on exploring and sharing best-of-breed practices that are designed to break through competitive granite walls.