Retail Observer

RETAILOBSERVER.COM AUGUST 2014 50 Y ou have been hearing me for some time now talk about UHD, OLED and next generation flat panel technology. Well the good news is that this is the last article you will hear from me on that topic. Why you ask? Because the technology is already mainstream and we want to talk about what's next in this series of articles. You may be asking yourself what I am talking about? How can 4k and UHD already be mainstream, he was just talking about these new amazing technologies? Fact is that this year will be the year of mass 4k adoption and sales. In short, if you aren't already heavily engaged in the UHD/4K/OLED business or at least in the process of bringing it into your assortment, you have probably already missed some of the opportunity. I know you are saying "but I just heard about 4K". Well that's true but the CE business is moving faster than ever and 4K adoption will come sooner than anyone expected. In fact, according to industry body IHS technology, global shipments of Ultra HD TV LCD panels exceeded 1 million units for the first time in March 2014. Our friends at another industry group Display Search predict that the technology growth trend for 4k is staggering and will be faster than the digital, LED, or 3D transition. In fact, they predict that 4k will have 90% penetration in 50+ by 2017. That's one of the fastest adoptions of a new technology in TV history, my friends. Add to this the fact that we have already seen roadmap plans and introductions of new models showing the magical $1999 and $999 price points in high velocity sizes and the race is on for available market share. The push is on and the sales are available. I have been saying that the cycle is coming, well it is here and we need to take advantage of our superior sales teams and in-store demonstrations to garner our unfair share of the profitable, early adoption segment. Go get the business. I don't normally do this, but let's shift gears and talk about something other than mainstream CE business. I want to talk about a category that is coming and coming soon that really excites me. Wearables. That's right. We have already put mainstream CE in the rearview mirror as we look to the next great profit opportunity for independent retailers. You have no doubt heard the term, but probably wonder how big it will be or what the opportunity will be for a CE retailer. I will tell you that in my twenty plus years in the business, I have never seen a category launch off the pad quite like this one. From CES to CE week and sure to be visible at CEDIA, we are seeing this category expand past niche players into mainline and core suppliers like no other category. Wearables and health and fitness technology is the next great frontier and opportunity in the CE business. You will hear more from industry icons on this in the near future as it is a category that offers incremental sales and the chance to interact, sell, and service a customer like never before. It is a category that benefits young and old, fit and not so fit, early adopters and mainstream customers. As you can tell I am very excited about the opportunity here. Let me ask you a question, when is the last time you had an opportunity to sell CE product to every single person you service? Keep an eye on this category and let's grow toge- ther for the balance of the year and into 2015! RO Tom Hickman Consumer Electronics Trends Tom Hickman is the Senior Vice President of Electronics for Nationwide Marketing Group. Call (336) 722-4681 or visit www.nationwidegroup.org. GREETINGS, BRAVE CE RETAILING SOULS

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