NEW YORK – Buying group executives said major appliance volume went through the roof over Thanksgiving weekend, and that dealers were even able to make some money in the process.
“I was shocked,” reported Jeff Knock, Nationwide Marketing Group’s appliance senior VP. “Dealers were seeing 20-, 30-, 60-, 80-percent comp increases, and not a whole lot of margin deterioration. Promotional activity was off the Richter scale.”
Knock attributed the glad tidings to a combination of national vendor promotions, Nationwide specials, and members’ willingness to “take off the gloves and get in the game.”
He also lauded manufacturers for the “the great job they did managing their brands, especially LG and Samsung. All are bringing discipline to their MAP policies, online and everywhere, and most [retailers] adhered to the promotional MAPs.”
Bill Trawick, president and executive director of the NATM Buying Corp. agreed. “Everyone made a little more profit on Black Friday,” he observed. “MAP has tightened up, and things weren’t as aggressive.”
Knock has high hopes for December as well, given the “ton of promotions between Christmas and New Year’s.”