Retail Observer

RETAILOBSERVER.COM MARCH 2020 56 B U Y I N G G R O U P N E W S I f you've grown up in the retail industry, you know that success in this space depends on your ability to develop strong relationships. Retail transactions, at their core, are built around great relationships between customer and retailer. But that's just the tip of the iceberg. Relationships permeate everything in retail, not just the eye-to-eye transactions with our customers. They extend to the brands on the store shelves, the distributors, the service vendors, and other businesses in the community. And, of course, there's the very important relationship between retailers and their buying group – and that's something our team here at Nationwide Marketing Group knows a thing or two about. Relationships are key to the services we've offered our members for the last half century. And it's those relationships – and our industry- leading, group-exclusive programs – that give our members the tools to stand out above the competition and excel in a new era of selling a smart home connected experience. THE SMART HOME OPPORTUNITY Whether we're willing to admit it or not, technology is rapidly creeping into every corner of the home. At this year's Consumer Electronics Show we saw sensors and smart tech- nology embedded in major appliances, toilets, mattresses, furniture and more. You can breathe easy, because we don't view this major technological transformation as a reason for independents to be alarmed about their business. Viewed rightly, smart home technology represents a massive opportunity for the independent channel. According to Google, the connected home industry represents a $490 billion annual market. And there's tons of room for that figure to grow exponentially. Analysis from Statista shows that just 32.4 percent of homes in the United States have at least one installed smart home device, and that the number is expected to exceed 52 percent by 2024. Even more exciting, over 42 percent of first-time Google Nest buyers will buy another connected home product within the month after their initial purchase. "This is technology that helps you live a better life, rather than technology for technology's sake," says Nationwide President and Chief Member Advocate Tom Hickman. "We've identified the connected home as the next big opportunity for our retailers, and I believe we have an obligation and responsibility to help them get it right. We can't squander this multi-billion- dollar opportunity." To get there, we believe retailers will have to overcome two major hurdles: awareness of smart home technology, and educating the consumers on how it all works. Part of the challenge has been a lack of available tools to help dealers close the gap with their customers. And that's where we've leaned on the relationships we've cultivated with our vendor partners. The result is a number of unique and exclusive programs designed to make selling the connected home experience a breeze for our independent retailer members. In particular, our close relationships with Google Nest, DSI Systems and AT&T have enabled us to launch several industry-leading programs that will give our members a big leg-up over their big box competition – and allow them to cash in on this booming market. Another way we're helping retailers move forward in this space is with the launch of Nationwide Connected Home, the industry's first SELLING THE SMART HOME How Nationwide Marketing Group's exclusive partnerships help independents create the perfect connected retail experience

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