Retail Observer

RETAILOBSERVER.COM JANUARY 2015 64 THE NEW REALITY IN CONSUM ER ELECTRONICS The New Consumer has changed everything, and there's no going back T he New Consumer needs a good reason to leave the comforts of home, and the convenience of online shopping, to visit your physical store. They expect to find the technology they seek—like WIFI streaming and smartphone accessories—as well as hip, tech-savvy staff who can demonstrate the technology and recommend the right products for them based on the specific needs they expressed. The CE retailers who "get it" and have adapted their approach to the New Consumer* are thriving, while those stuck in the old paradigm are struggling. WHAT DO SUCCESSFUL CE INDEPENDENTS LOOK LIKE? The owners of DomoPrestige, a Cantrex Nationwide member, created exactly that when they opened a new, high-concept store. The minimalist, ultramodern, grey-and-white décor, subtle lighting, media walls and airy space set the tone for qualified staff to sell high-end electronics and custom installations of multimedia and home-automation systems. This combination of high-end products and technical services may be low volume, but it is highly profitable business. The owners have also cleverly leveraged their older, traditional CE store, which mainly sells high-volume, low-margin products, to funnel customers looking for custom installations and home automation to their new store. This win-win approach could serve as a model, as one way to transition from the old format to the new. AN INTEGRATED MARKETING STRATEGY To find and stay connected with the New Consumer, you must have an integrated marketing strategy. Consumers doing online research have to be able to find you. Your message needs to reach them on multiple platforms: TV and radio, email, social media and the Web. Cantrex Nationwide makes it easy for its members to do just that with state-of-the art marketing services that integrate print and electronic media, from high-impact advertising, web design and search optimization, to customized in-store electronic signage and HD-TV network. B2B—ANOTHER SOURCE OF POTENTIAL PROFITS The most successful CE retailers in my territory have also expanded their reach into the commercial market. Restaurants, bars, hotels, high- end residential and commercial contractors also want the newest technology. They want, for example, to automate and remotely control their lighting, heating/air conditioning, security and multimedia from a tablet or smartphone. And they have the bucks to do it! However, B2B requires a completely different marketing approach from retail. You need to send your sales people out to cold call on businesses in your local trading area. Once you've got enough successful projects under your belt—and showcased on your website—you'll have the references you need to expand beyond your immediate area. TRAINING AND CERTIFICATION Whatever market you target—retail and/or B2B—you will need knowledgeable staff if you intend to offer complex automation and connectivity services, technical after-sales service and customer training. Cantrex Nationwide members are particularly fortunate to have online access, though their MemberNet platform, to best-of-class training programs in every imaginable area, from product expertise to custom installation. Our most successful retailers use these programs to keep their staff continuously trained and certified. Vendor certification, too, is well worth the extra fees since it gives you credibility, as well as the knowledge to resolve problems for your customers when their complex systems don't work. A lot of dealers are losing market share because they won't accept that the consumer has changed. It's time to face the new reality and move forward… to where a profitable future awaits. * The New Consumer study was created by Havas Worldwide and fielded by Market Probe International in October–November 2009 in seven markets: Brazil, China, France, Japan, Netherlands, United Kingdom, and the United States. More at: www.thenewconsumer.com/study-highlights. RO Francis Castelletti Consumer Electronics Trends Francis Castelletti, Regional Business Development Manager, Quebec Cantrex Canada

• Cover