The Numbers Sound Good
Dealers for the last few years have been citing audio as one of their strongest sellers. CEA's recent report, "Notions of Quality: Audio Expectations of Consumers Study," shows the category could get a lot hotter - and more profitable - for specialty and independent dealers.
One of the report's key findings is that 39 percent of consumers, even those with just a modest interest in audio, are willing to pay more for high-quality audio devices. Sales associates looking to increase their numbers should keep this fact in mind. Since about half of your customers (many analysts predict 50 percent smartphone penetration in the U.S. by the end of the year) carry a smartphone, then half of the people walking through the front door of your store are qualified leads with a deep desire to spend on high-quality (read: higher margin) audio.
The more you explore the numbers, the more they indicate a greater chance of closing the customer, the one who's probably standing right in front of you, on a higher-quality audio sale. Here's why.
It's now safe to say that the majority of customers with a smartphone (which will quickly become their main audio source) have attempted to listen to music over it. About 40 percent of consumers have listened to streamed audio content this year. The beauty of all this is that downloaded and streamed MP3 files sound hellish. They sound even worse on smartphones and through most earbuds. Consumers agree, with only 32 percent saying they expect the highest sound quality from streamed audio.
So, at this point, the numbers show that almost half of your customers are listening to crappy sounding music files through a subpar audio solution. The biright side for dealers is that consumers actually crave a high-quality listening experience. A whopping 90 percent, according to CEA, say sound quality is the most important part of their audio experience. Other top factors are compelling content (85 percent) and superior electronics (72 percent). And did we say that 40 percent of your customers are willing to PAY MORE for that experience?
Related story: Help Customers Retrieve Devices