In our Influencers series run in conjunction with Appliance Retailer magazine, Current.com.au speaks to the industry leaders, big brands and well-known identities that have helped shape the electrical retail industry in 2013.
In this instalment, Richard Bowe, general manager of Haier Australia talks about the company’s growth and the damage caused by aggressive pricing across the electrical retailing industry.
How was the first half of 2013 for your business?
Haier has gone from strength to strength and we have been extremely happy with the first half of 2013. Haier has seen impressive double digit growth across all categories and our market shares have been growing month on month. We are seeing a real surge in brand acceptance by customers and our channel partners, which we are very pleased about.
What are your thoughts for the second half of the year?
With a new marketing campaign and 26 new and exciting products planned, we are well placed to take advantage of the energy that has been created across the Haier brand. We are very optimistic about the longterm growth opportunities for 2013 and beyond.
What opportunities do you see for the appliance retailing industry?
I see the main opportunity in our industry as business management of both retailers and suppliers. Currently pricing is aggressive and there are some real value propositions available. As an industry we need to monitor the discounting and not drive ourselves to extinction (we have seen it before in other categories and they have never recovered). Products are better than ever before with more features and benefits — is it necessary to give them away?
What threats are currently present in the industry?
The main threat currently facing the industry is the heavy discounting of product which could potentially be rectified by improved business management of retailers and suppliers.
Another threat to the industry is small retailers mismanaging their online offering. While the larger retailers have professionally executed websites to sell product, some of the smaller players are mismanaging their online presence by selling the majority of their goods at minimal margins purely to prolong their existence.
What is your favourite product of 2013 so far?
My favourite product of 2013 is our new Haier three door French Door refrigerator with Ice & Water. Finished in stainless steel and featuring hidden hinges, our new French Door looks stunning and is extremely well appointed.