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 speak to Joe Costantino, deputy managing director, at Sharp Corporation of Australia. He says product and brand diversity is essential for differentiation.
How has the first half of 2014 been for your business?
Year-to-date, business has had its challengers but overall there have been opportunities within the mid-to-high end areas of the market.
What are your predictions for the second half of the year?
The visibility into the second half of the year is clouded by the budget. An austerity budget may have an initial negative effect on consumer confidence.
What opportunities do you see for the electrical retailing industry?
Product and brand diversity offer the retailers an opportunity to differentiate themselves from each other. Carrying the same brands as everyone else is a recipe to fuel the flames of price erosion and lower profitability.
What threats are currently present in the industry?
Consumer confidence is the key factor and is a key factor in spending trends. If consumer confidence remains soft then this will translate into softer market sales.
What is your favourite product of 2014 so far?
Sharp’s French Door and large top mount refrigerators have been a real winner. Offering desirable styling and finishes, along with unique features such as PlasmaCluster to extend the food storage life, they have been a great success.
To read the full series right now, pick up the July issue of Appliance Retailer magazine.