Meridian Posts Gains On Smaller Dealer Base
By Joseph Palenchar -- TWICE, 2/18/2011 New York - Meridian America significantly scaled back its dealer base and product selection beginning in 2009 yet posted a 12 percent sales gain in 2010, CEO Peter Wellikoff told TWICE. Meridian grew by focusing more resources on fewer, more committed dealers and by taking more of a luxury position in the A/V market, he explained. With its greater focus on the luxury market, Meridian brought in new staff with a luxury-market background and opened up its U.S. headquarters here for use as a dealer showroom to demonstrate Meridian's high-end audio and video products to high-level business executives, athletes and actors who don't shop in retail stores, Wellikoff said. The company plans to make this strategy "bi-coastal," he noted. Meridian also began to support dealers whose high-profile customers want a demo in their own homes. For these dealers, Meridian flies out products and staff to set up and demo a system in the potential customer's home and let the homeowner live with it for a day. About 90 percent of the time, Meridian staff makes the presentation to the consumer, but the dealer sets up the appointment and profits from the sale. All home demos to date have closed a sale, Wellikoff noted.
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