Don't Panic! Nationwide’s Survival Guide

Despite diminishing expectations for the holiday selling season, independent dealers need to resist the inclination to pull the covers over their heads and hope for the best.

If anything, “Independents need to go after customers in a more aggressive manner than ever before,” insisted Robert Weisner, executive VP of the $11 billion Nationwide Marketing Group. That includes stronger promotional programs, creative advertising and open communication with sales teams, he told TWICE in a statement.

Other tactics urged by Weisner in these challenging economic times include:

·tightening inventory and cutting costs to improve gross margins;

·finding new sales opportunities;

·forging relationships with new vendors;

·pushing smaller-ticket items and accessories;

·selling more to their existing customer base, and;

·joining a buying group.

Nationwide dealers, he added, should take advantage of the buying group’s training programs, advertising, finance options, consumer rebates and survey reports, which can help even the playing field with national chains.

Weisner’s final suggestion, however, might be the hardest to follow. His advice: “Keep a positive attitude.

For more on Wall Street’s impact on the consumer electronics industry visit www.twice.com on Monday.