Retail Observer

RETAILOBSERVER.COM OCTOBER 2023 54 C aught up in the day-to-day whirlwind of running a retail business, it's easy to forget how far and how fast AVB BrandSource has grown in recent years. Dave Meekings, chief operating officer of the leading member-owned merchandising and marketing co-op for independent home goods dealers, reminded attendees of the group's progress and highlighted its latest initiatives in a keynote address at BrandSource's recent Convention 2023 in Nashville. Among the milestones: • AVB Marketing's Alta e-commerce platform and MTEQ marketing technology suite • The Women in Business and Young Professionals networking groups • The online COVID Hub resource center • ServiceSource, HRSource and their respective comprehensive Playbooks • Furniture Technology Source (FTS) and its permanent Experience Center showroom at the Las Vegas World Market Center Together the initiatives contributed to a 40% increase in business growth, a 50% gain in membership and a 70% spike in member benefits over the preceding nine years, Meekings said. Also experiencing significant gains is the nascent FTS, or Furniture Technology Source arm for home furnishings members, whose best-in-class digital catalog has grown 10-fold in the scant two-and-a-half years since FTS's creation. Fueled by MTEQ and an aggressive merchandising team, FTS members enjoy 30% more site traffic and receive 30% more rebate programs than their competitors, Meekings noted, and they shopped more vendors at the Nashville show than any in BrandSource history. Adding to the group's furniture momentum is FTS Direct, a just- launched, direct-sourcing program that will select, curate, import, and ship split container loads of factory-direct products for BrandSource members only. By pooling their buying power, dealers can enjoy close to factory-direct pricing without committing to a full container of merchandise, which can deliver greater profitability and allow for more competitive pricing, Meekings said. The first trial containers are already on order, and a sample leather sectional from the debut FTS Direct collection was displayed on the EXPO floor. Another major push for AVB is luxury appliances, as reflected in the group's 330% increase in ultra-premium catalog listings over the past year-and-a-half. That's helped to make BrandSource a dominant player in the high-margin category, which Meekings described as "hyper important" to members. Also driving AVB's luxe ascendancy are its retail financing, vendor discounts, and range of retail technology tools like HUB, LINQ, and KIOSQ that provide the upscale purchase experience and sophisticated service levels high-end shoppers expect. AVB is also particularly proud of its ServiceSource initiative, which has helped change appliance repair from a money-losing cost of doing business to a full-fledged profit opportunity for self-servicing members. Besides creating an invaluable Playbook that covers every aspect of running a cost-effective service operation, ServiceSource provides regular online educational webinars, a monthly newsletter, and starting at the last Summit, on-site training and certification for service department managers. Plus, building on that momentum, ServiceSource debuted its first manufacturer-led training camp for service techs in Septem- ber, representing the latest in a long line of AVB innovations. Alan Wolf is Senior Communications Specialist at AVB BrandSource, the nation's leading merchandising and marketing co-op for independent appliance, home furnishings and consumer tech dealers. BRANDSOURCE SERVICES BRING DOUBLE-DIGIT GAINS AVB recounts the group's accomplishments at Convention 2023 Alan Wolf Business Trends RO AVB COO Dave Meekings reviews BrandSource's industry-leading initiatives in his Convention keynote.

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