Influencers 2014: 2nds World aiming at staying #1 in competitive retail niche

Welcome to Influencers, our annual series that speaks with the heads of retailers, suppliers and industry bodies to find out what is happening in appliances and electronics and how different companies are shaping its future.

Today we meet Peter Hammerman, the owner of 2nds World, a retail group specialising in factory seconds, display models and units with “cosmetic blemishes”. He expressed optimism for the remainder of the year.

Experience matters: Peter Hammerman.

Experience matters: Peter Hammerman.

 

How has the first half of 2014 been for your business?

The first quarter of 2014 showed a significant improvement on 2013 results which was very pleasing. The second quarter maintained this momentum through increased consumer confidence, which translated into more people putting 2nds World on their shopping list for great deals on home appliances.

What are you predictions for the second half of the year?

2nds World remains optimistic for the rest of the year as we look ahead at planned supplier activity as well as our own go to market strategy. Continuing residential property development in all areas of Sydney will assist with solid trading conditions for us.

What opportunities do you see for the electrical retailing industry?

As a factory seconds outlet, we have a very unique selling proposition to go to market with. The huge opportunity for us having an online presence is we can be visible to anyone in the market searching for an appliance, whether they are searching for a factory second, carton damaged, new run out or brand new appliance for their home. I think the advent of online shopping has been the biggest change to have occurred within the retail industry during my lifetime and I find it very exciting.

What threats are currently present in the industry?

The retail industry and, in particular, the way that consumers shop, may have changed dramatically since I bought the first 2nds World store, but the company’s success proves that friendly customer service and bargain prices never go out of style.

Our niche market is based on a great selection and supply of factory second appliances. Interestingly enough, some other major retailers see us as a threat and want to copy our business model to penetrate our developed market.

With increased competition comes a higher expectation when it comes to the customer’s shopping experience. As a result, customer loyalty is something our business constantly invests in to ensure our customers have a wonderful shopping experience each and every time.

What’s your favourite product of 2014 so far?

I have two favourite products. First, the range of Samsung Curved TVs, as they offer customers the latest technology and best picture quality on the market today. Second, Mitsubishi Electric’s MR-EX655W multi-drawer refrigerator for keeping food fresher for longer.

samsung curved

Equal favourite: Samsung Curved TV.

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