Retail Observer

RETAILOBSERVER.COM DECEMBER 2020 58 A VB/BrandSource resumed its cadence of nationwide dealer call-ins last month with a pre-holiday video chat led by CEO Jim Ristow. Part business update, part fireside chat, Ristow and his merchandising team used the forum to tackle the questions and inventory concerns of the buying group's independent appliance, furniture and consumer tech dealers, and to address the wearying effects of the COVID crisis. About the latter, Ristow noted that 80 percent of Americans are experiencing some level of emotional distress due to the pandemic, and that the unprecedented demands of business – including endless workdays, the scramble for product, and the ire of customers on backorder – is taking a toll on owners and employees alike. Describing the syndrome as "COVID head," he said some consumers are venting their stress over quarantines, home- schooled kids and job insecurity by snapping at dealers over minor issues, and that the pressures would likely mount during the traditionally hectic fourth quarter. Ristow's advice: store owners should find a way to decompress, whether that means time away from the business, as some members have done; by rewarding themselves with simple pleasures; or by calling up a fellow member or even the CEO himself. "You won't be a good leader if your head is not on right," he counseled, comparing the situation to securing one's own oxygen mask on an airplane before assisting others. Ristow also urged owners to thank staffers individually for their tireless efforts, whether verbally, with a handwritten note, or with a gift card. Some BrandSource members said they've taken it to the next level by rewarding employees with holiday turkeys, paid time off or hero bonuses. Turning to the business of business, Ristow and his team cautioned that despite incremental improvements, inventory relief could still be at least eight months out – no doubt a hard pill to swallow for members and their customers who are waiting as long as 12 weeks for shipments from some vendors. The good news, he said, is that BrandSource dealers are outpacing the industry on deliveries due to their alacrity in placing opportunistic orders – something the box stores and their forecasting systems simply can't do. This nimbleness has made BrandSource businesses the best bet for shoppers on the hunt, Ristow said, and members should tout this in their marketing in lieu of fourth-quarter promotions. Indeed, another benefit of the supply constraints is that availability has replaced price as the new lure, allowing margins and dealer profits to grow. Looking ahead, AVB Merchandising VP Chad Evans said he expects demand for appliances and home furnishings to remain high, and for sales to continue growing at an accelerated pace for the next five to eight months, or "as long as consumers are stuck in their homes and aren't taking vacations." Some members said they are working on that assumption and are already ordering deep for next year. Despite the punishing pace, Ristow reminded members of their good fortune in selling home-related products. "Imagine if you owned a restaurant or a travel agency," he said. B U Y I N G G R O U P N E W S CEO Jim Ristow helmed BrandSource's pre-holiday video chats with dealers across the country. Alan Wolf is Senior Communications Specialist for AVB/ BrandSource, the nation's leading merchandising and marketing co-op for independent appliance, consumer tech and home furnishings dealers. AVB'S JIM RISTOW LEADS DEALER CALL-INS WITH HEAD AND HEART

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