KNOXVILLE, Tennessee (WVLT) – At the Vol Shop on the UTK campus, Tommi Grubbs with the shop says they had a thousand orders online in a single night, which they would typically see on a successful night out for football season.

Without a doubt, the “papa” hat was the best-selling item in the Vol. If you don’t know the story behind the hat, it all started out as a celebration for the baseball team. Every time a player hit a home run he wore the hat in the dugout, but now the fans want to join in on the action.

Bacon and Company is where all of these hats are made, and Jed Dance with the company says they are making them in the thousands every day due to high demand. Jed says employees have been working overtime to keep stores stocked with merchandise and the past two weeks alone have surpassed any previous sales of Tennessee baseball merchandise. The company has been open since 1925.

Each match apparently presented another opportunity for another jersey to be printed and designed, which keeps Jed and his team on their toes. But for the lifelong fan of Theft who was born and raised in Knoxville, it’s exciting work as the Vols continue their quest to win a College World Series championship.

Copyright 2021 WVLT. All rights reserved.

SAN DIEGO, May 7, 2021 / PRNewswire / – PriceSmart, Inc. (NASDAQ: PSMT) today announced that April net merchandise sales rose 22.0% to $ 263.4 million of $ 216.0 million in April a year earlier. Exchange rate fluctuations negatively impacted net merchandise sales by 1.6%, or $ 3.4 million, compared to the same period of one month the previous year. There were 47 warehouse clubs in operation at the end of April 2021 and 45 warehouse clubs in operation at the end of april 2020.

For the past four weeks April 25, 2021, comparable merchandise net sales for the 45 warehouse clubs open at least 13 and a half months increased 25.3% from the same period last year. Fluctuations in exchange rates negatively impacted comparable merchandise net sales by 1.7%, or $ 3.4 million, compared to the same period of the previous year.

Sherry S. Bahrambeygui, CEO, said:

“Our membership base and 12-month renewal rate are growing rapidly from their respective recent lows in August 2020, moving past April of last year and almost returning to their pre-COVID peaks, in part thanks to our online capabilities.

“As we now face the second year of the pandemic and despite continuing restrictions in various markets, our total and comparable sales have increased in April 2021, 22.0% and 25.3%, respectively, compared to April of last year.

“Demand in our non-food categories in April, particularly electronics and apparel, continued to grow. Our global merchandising team efficiently found in-demand items at excellent prices and in appropriate quantities to maintain a strong inventory on hand. The return of additional club capacity in some of our markets positively impacted our foodservice sales during the month.

“We believe that our concept is not only sustainable, it has the potential for growth in good times as well as stressful times like these. Additionally, with the continued strengthening of our omnichannel capabilities and deeper data on our member preferences, we see opportunities to deliver greater value to our members. Our entire team of over 10,000 associates continues to deliver strong results despite ongoing challenges while ensuring the safety of our employees and members.

The 12-month renewal rate is 86.1% for the closed period April 30, 2021, an increase from the 12-month renewal rates of 81.5% and 80.5% for completed periods February 28, 2021 and August 31, 2020, respectively.

Cumulative fiscal year, which includes the eight months ended April 30, 2021, net merchandise sales increased by 6.2% for $ 2,307.8 million of $ 2,172.5 million for the eight months ended April 30, 2020. Exchange rate fluctuations negatively impacted net merchandise sales by 2.9% or $ 62.4 million compared to the same eight-month period the previous year.

For the 34 week period ended April 25, 2021, comparable merchandise net sales increased 3.3% from the same 34-week period a year ago. Fluctuations in exchange rates negatively impacted comparable merchandise net sales by 2.9% or $ 60.6 million compared to the same period of the previous year.

Monthly sales reporting

The company will cease reporting its monthly sales after its sales publication in May on or about June 7, 2021 at the end of the third quarter of fiscal 2021. This is in line with current industry practices and the vast majority of the Company’s retail peers. The Company believes that aligning its sales reports with the disclosure of our quarterly financial results provides better context for the overall financial performance of the Company.

About PriceSmart

PriceSmart, headquartered at San Diego, owns and operates American-style commercial warehouse clubs in Latin America and the Caribbean, selling high quality goods and services at low prices to PriceSmart members. PriceSmart operates 47 warehouse clubs in 12 countries and one American territory (eight in Costa Rica and Colombia; seven in Panama; five in the Dominican Republic, four in Trinity and Guatemala; three in Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the US Virgin Islands). The Company also plans to open new warehouse clubs in Guatemala City, Guatemala and Bucaramanga, Colombia in the fall of 2021, and in Portmore, Jamaica in spring 2022. Once these three new clubs are open, the Company will operate 50 warehouse clubs.

The Company reports comparable merchandise net sales on a “same week” basis with 13 weeks in each quarter starting on a Monday and ending on a Sunday. Periods are established at the start of the fiscal year to provide as close a match as possible to the calendar month and quarter which are used for financial reporting purposes. This approach equalizes the number of weekend days and weekdays in each period for a better sales comparison, as the company has higher merchandise club sales on weekends. Each of the warehouse clubs used in the calculations has been open for at least 13 and a half calendar months before its results for the current period are compared with its results for the previous period.

The term “exchange rate” refers to the exchange rates the Company uses to convert net sales of merchandise and net sales of comparable merchandise for all countries where the functional currency is not the US dollar into US dollars. The Company calculates the effect of changes in exchange rates as the difference between current period operations converted using current period exchange rates and comparable period last year exchange rates. The Company believes that disclosure of the effects of currency fluctuations on the Company’s results provides investors with a better understanding of the underlying performance of the Company.

This press release may contain forward-looking statements regarding the anticipated future income and profits of the Company, the adequacy of future cash flows, omnichannel initiatives, proposals to open warehouse clubs, the performance of the Company by compared to its competitors, the outcome of tax proceedings and related matters. These forward-looking statements include, without limitation, statements containing the words “expect”, “believe”, “will”, “may”, “should”, “plan”, “estimate”, “anticipate” , “Planned”, “intend” and similar expressions, and the negative thereof. These statements are subject to risks and uncertainties which could cause actual results to differ materially, including, but not limited to without limitation: adverse changes in economic conditions in the Company’s markets, natural disasters, compliance risks, exchange rate volatility and the illiquidity of certain local currencies in our markets, competition, spending habits of consumers and small businesses, political instability, increased costs associated with integrating online commerce with our traditional businesses, if the Company can successfully execute strategic initiatives. es, cybersecurity breaches that could disrupt our systems or compromise the security of member or company information, cost increases for product and service providers, disruption of supply chains, drivers and challenges related to COVID-19, including, among others, the duration of the pandemic, the unknown long-term economic impact, the impact of government policies and restrictions that have access limits for our members, and changing demand discretionary or more expensive products to cheaper products, exposure to product liability claims and product recalls, collectability of money owed to PriceSmart by governments, and other important factors discussed in the Risk Factors section of the Company’s most recent annual report on Form 10-K, and other factors discussed from time to time in other filings s with the SEC, which are accessible on the SEC’s website at www.sec.gov, including quarterly reports on Form 10-Q and current reports on Form 8-K. Forward-looking statements speak only as of the date on which they are made and the Company does not undertake to update them, except as required by law.

For more information, please contact Michael L. McCleary, EVP, Chief Financial Officer and Principal Accounting Officer (858) 404-8826 or send an email to [email protected].

SOURCE PriceSmart, Inc.

Related links

http://www.pricesmart.com

Can masks and T-shirts save the Louvre? Probably not, but maybe they can help keep the museum’s name alive while its doors remain closed.

Normally, the Louvre is one of the most visited museums in the world: 9.6 million people visited its rooms in 2019. But the coronavirus deprived it of foreign tourists and government decrees closed it twice for nearly six months last year, a loss of 90 million euros (about $ 108 million) in revenue, according to the Louvre. Since last March, the museum, along with other French cultural institutions, has remained closed indefinitely. (It opened last year from early July to late October.)

“We have to find new ways to make money,” said Adel Ziane, director of external relations at the Louvre. “The COVID crisis has made the diversification and promotion of the name of the Louvre more urgent than ever. “

One of his answers is retail. Lots of detail.

On February 4, Uniqlo began selling a collection of Louvre clothing in its stores around the world, under a four-year licensing agreement with the museum. Peter Saville, an English graphic designer, splashed the museum’s inventory numbers and slogans alongside the artwork on t-shirts and sweatshirts.

Uniqlo’s two-minute promotional video for the line features Uniqlo-clad models strolling through the galleries of the Louvre. The Louvre has produced its own short video featuring a museum official extolling the values ​​of “universality and timelessness” he shares with Uniqlo.

The Louvre has also collaborated with CASETiFY, a tech accessories company, to put images of some of its most recognizable women – Mona Lisa, Venus, Liberty Leading the People – on iPhone cases, AirPods cases, Grip mounts, wireless chargers and water bottles.

Maison Sarah Lavoine, a small boutique located near the Tuileries Garden, offers a fancy cushion and ceramic candlesticks that are said to be inspired by the bases of statues in the garden.

During the pandemic, visits to the Louvre.fr site exploded, according to the museum. But the Louvre had to rely on an umbrella online site, the Museum Shop, to sell its wares, grouping them together with wares from museums like Versailles and the Musée d’Orsay. Thus, at the end of January, the Louvre created a distinct online identity with its own e-boutique.

“We wanted to take control, promote what we wanted, tell our own stories – and reach the widest possible audience around the world,” said Yann Le Touher, Head of Sponsorship, Brand and Business Partnerships at Le Touher. Louvre. Louvre.fr is where you can find Louvre Swatches, a Louvre fragrance from L’Officine Universelle Buly; and the monopoly of the Louvre.

Expanding merchandise is just one of the ways the museum has been creative in fundraising.

In December, for the first time in its history, the museum organized an auction with Christie’s and Drouot to raise funds to transform an unused museum space into a 12,000 square foot educational and practical art “studio”. for adults and children. At auction, works of art by Pierre Soulages and Jean-Michel Othoniel were offered; a Vacheron Constantin watch (the winning bidder could choose a museum artwork to be reproduced on the dial, although the Mona Lisa is banned;) and a variety of museum-related “experiences”.

An unidentified bidder paid 80,000 euros ($ 96,600) to be able to witness the process of taking the Mona Lisa out of her case in person for her annual inspection.

In total, the auction raised more than 2.3 million euros ($ 2.8 million). “Bidders from all over the world have come together to show their support,” said museum director Jean-Luc Martinez. “The desire for the Louvre is more alive than ever. “

The warm atmosphere of popular culture is nothing new for the Louvre, which welcomes, often at very high prices, filmmakers, videographers, photographers, fashion designers, artists.

For two nights in 2018, Beyoncé and Jay-Z took to the galleries, stairs, corridors and courtyard of the Louvre to produce a clip that has been viewed over 200 million times on YouTube.

Most recently, the creators of the Netflix series Lupine rented the museum for five days and five nights. And Louis Vuitton, because of its status as a major donor of the Louvre, has an exclusive layout which gives it access to various museum spaces for its shows, which took place in the exterior Carrée courtyard and the Marly courtyard under glass (the the location of the next one, which will be revealed digitally on March 10, remains to be seen).

It’s a question of buzz and results; fees are negotiable.

“The cost of the museum depends on the project,” Ziane said. “Is it day or night?” How are the galleries? Do you want the Mona Lisa? Want an aerial shot of the Pyramid? The prices can go up quite high. “

In the meantime, those who want to put Mona Lisa on their face, can buy a “Monna Pop” face mask with 16 images of her face in bright pop-art colors on the Museum Shop website for 9.90 euros.

The website proclaims: “Cover your mouth and nose in style! “

– Featured Image: Benh LIEU SONG

Elaine Sciolino c. 2021 The New York Times Company

Costco Wholesale Corp. (COST) is a big box retailer and wholesale warehouse club operating approximately 800 locations in North America, Asia and Europe. It also has a significant e-commerce activity. The company’s warehouses offer low prices on a limited selection of branded and private label products, usually offered in bulk.

Customers purchase subscriptions to access warehouses and make purchases. Costco aims to offer lower prices than its competitors by purchasing merchandise direct from manufacturers, limiting store hours, and minimizing labor by storing merchandise on large racks above a large self-service warehouse.

Costco offers merchandise in categories including:

• Food and miscellaneous items
• Hard lines (such as major appliances, electronics, and hardware)
• Fresh food
• Softlines such as clothing and small appliances
• Auxiliary (which includes gasoline and pharmaceuticals)

The company also generates a small percentage of its revenue through membership fees. Costco’s main competitors include discount stores such as Target Corp. (TGT) and Walmart Inc. (WMT), as well as big box competitors like BJ’s Wholesale Club Holdings Inc. (BJ).

Costco Financial Data

In the second quarter of fiscal 2021, which ended February 14, 2021, Costco recorded year-over-year (YOY) gains in revenue and net income. Total revenue increased 14.6% year-on-year to $ 44.8 billion. Net income (including net income from non-controlling interests) increased 2.5% year-over-year to $ 971 million. the The company said its e-commerce comparable sales grew 75.8% year-over-year.

Food and sundries grew 17.6% in the second quarter of fiscal 2021. They account for 40% of Costco’s net sales, making it the largest contributor to the company’s total net sales. But Fresh Foods and Hardlines were the fastest growing categories, with year-over-year net sales increases of 23.1% and 22.6%, respectively. Fresh Food represented 14% of sales and Hardlines 19% over the period. Softlines grew 20.3%, representing 12% of revenue. Ancillary and other products are the only product category that recorded a decrease in sales, which decreased by 9.1% and represented 14% of total net sales.

Costco also provides information on revenue generated from membership fees. Membership fees are generally a much smaller portion of total income. For the second quarter of fiscal 2021, for example, the company reported $ 881 million in membership fees, or about 2% of total revenue.

Costco lines of business

Costco divides its business into three reportable segments, breaking down results geographically and by revenue and operating result: Operations in the United States, Canadian operations and other international operations.

Operations in the United States

The bulk of Costco’s business comes from its operations in the United States, making it the largest of the company’s three featured segments. For the second quarter of fiscal 2021, operations in the United States reported total revenue of approximately $ 32.1 billion, an increase of 12.6% year-over-year.

During the same period, the segment reported operating profit of $ 790 million, down 3.8% year-on-year. For the second quarter of fiscal 2021, U.S. operations represented 72% of Costco’s total revenue and 59% of company-wide operating profit.

Canadian operations

Although significantly smaller than its US operations, Costco continues to do significant business through its Canadian operations segment. This segment reported total revenue of approximately $ 6.0 billion for the second quarter of fiscal 2021, an increase of 14.7% year-over-year. Canadian operations also posted operating income for the quarter of $ 236 million, an increase of 16.8% year-over-year. For this quarter, Canadian operations represented 13% of Costco’s total revenue and 18% of the company’s operating revenue.

Other international operations

In addition to the United States and Canada, Costco operates member warehouses in Mexico, United Kingdom, Japan, Korea, Spain, Australia, France, China and Iceland, and these latter countries are represented. in the Other international operations segment. For the second quarter of fiscal 2021, other international operations generated total revenue of approximately $ 6.6 billion, an increase of 24.9% year-on-year.

Other international operations also posted operating income of $ 314 million in the second quarter of fiscal 2021, an increase of 29.2% year-over-year. This makes this segment the fastest growing segment in terms of total sales and operating profit. It represents 15% of turnover and 23% of operating income.

Recent Costco Developments

On February 25, 2021, Costco CEO W. Craig Jelinek announced that he would increase his starting salary to $ 16 an hour, from $ 15 an hour in 2019. The majority of Costco employees are paid more than $ 25. one hour. Jelinek said that paying higher wages “is not altruism” and that it “makes sense to our business and is a significant competitive advantage for us. It helps us in the long run by minimizing turnover and increasing turnover. maximizing employee productivity “.

The CFL team, formerly known as the Edmonton Eskimos, saw a “very big” increase in sales of clothing and other items bearing the now defunct name, said the general manager of the ‘team.

“It is, at this point, a collector’s item for many,” said Chris Presson, CEO of the team, who will be called interim Edmonton Football Team or EE Football Team as he struggles to decide. a new permanent name.

The organization announced Tuesday that its board of directors has decided to remove the word “Eskimo” from the name. The move came after growing pressure from sponsors and fans to drop the nickname seen by some critics as an outdated and derogatory term for Inuit, and a similar decision by Washington’s National Football League team to withdraw its name. and its logo.

The Edmonton team’s online store, which sells clothing and novelty items bearing the “Eskimos” name, warned of “a high volume of orders” on Wednesday.

While that warning has been in place for several weeks, the team has confirmed that sales have increased significantly after the name change was announced on Tuesday.

Buyers “see it as an iconic old Canadian name and iconic Canadian company, and they want what they can get to remember it,” Presson said.

The Edmonton team plans to continue selling the products while supplies last.

The team likely has a “substantial” amount of inventory right now, he said, due to COVID-19’s postponement of the 2020 Canadian Football League season.

It would exacerbate the organization’s tax problems to write off all that inventory as a waste, he said.

“We have all been hit hard financially by COVID,” he said, adding that the team had not played a game this year and, if the season begins, they likely won’t have a home game.

“So we have no income and we only had expenses,” he explained, adding “our intention is – within reason – to continue to sell it, to try to move it. as much as possible, so we don’t. ” t take a total loss on what we have already made a major investment in.

The team has yet to decide on a new name and this process, including the production of merchandise bearing it, “will likely take much more than a year than several months,” he said.

They hope to keep the green and gold color scheme and double E logo, he noted, which means the new and old gear should have similarities.

The team will need to work with its licensees to create new products once they choose a name. Typically, licensing agreements require the team to notify partners of a change like this at least a year in advance, Presson said, adding that the team is holding a license call today. to address some of these issues.

He will also have to go through the process of branding and registering the new name, which will take some time.

Presson isn’t worried about a possible lack of sales if the team runs out of current stock before the new memorabilia goes on sale.

“I think it’s more important that we get what we’re going to do in the future correctly,” he said, rather than rushing to avoid a sales gap.

“I’d rather not have anything to sell than release a product we’re not happy with, or a name we’re not happy with, or rush something into the market where we haven’t done our due diligence.” collecting feedback from fans and partners.

It is important that both groups stay with the team as they undergo a rebranding during this financial crisis, he said.

Old equipment with the old name will not be banned from games when they are restarted.

“We are not going to stop what people’s freedoms are and what they want to do and what they can do.”

SAN DIEGO, July 7, 2020 / PRNewswire / – PriceSmart, Inc. (NASDAQ: PSMT) today announced that for the month of june 2020 net merchandise sales fell 1.5% for $ 249.2 million of $ 253.1 million in June a year earlier. Fluctuations in exchange rates had a negative impact on net merchandise sales in $ 7.8 million or 3.1% compared to the same period of one month the previous year. There were 46 warehouse clubs in operation at the end of june 2020 and 43 warehouse clubs in operation at the end of June 2019.

For the past four weeks June 28, 2020, comparable merchandise net sales for the 41 warehouse clubs open at least 13 and a half full months were down 4.9% from the same four-week period last year. Fluctuations in exchange rates had a negative impact on the net sales of comparable merchandise of $ 7.1 million or 3.1% compared to the same period of the previous year.

Sherry S. Bahrambeygui, CEO, said:

“We have seen a sequential improvement in net merchandise sales over the past two months despite the growing impact of the global pandemic on our markets. We are facing some challenges due to government mandates related to COVID including temporary club closures, reduced number of days during the week and hours per day our clubs are allowed to be open, restrictions on segments of the population authorized to make their purchases or to circulate on certain days, and limits on the number of people authorized to be in our clubs at the same time. were the strongest in our Caribbean and Colombian markets, but central America was not as strong, especially where cases of COVID and related restrictions have become more prevalent. We estimate a total of around 70 club days lost due to closures in June, where club purchases were not allowed. However, our team has continued to adapt quickly to meet the needs of our members, having deployed our Click and Go ™ online contactless ordering and curbside pick-up service in all markets. Although we only recently launched our Click and Go ™ service, we are pleased to report that sales represented 2.7% of total net merchandise sales for the month of. june 2020. We continue to work on improving and expanding our online initiatives and optimizing our club operations to allow members to have visibility into inventory, shopping options and the ability to buy goods and services safely, quickly and efficiently. As we all work together to persevere and excel in these uncertain times, our online initiatives and our club optimizations aim to fulfill our top priority of protecting the well-being of our employees and members, while enhancing their experience. purchase.”

Cumulative fiscal year, which includes the ten months ended June 30, 2020, net merchandise sales increased 3.6% for $ 2,668.0 million of $ 2,575.9 million for the ten months ended June 30, 2019. Fluctuations in exchange rates had a negative impact on net merchandise sales in $ 42.2 million or 1.6% over the same ten-month period the previous year.

For the 43-week period ended June 28, 2020, comparable merchandise net sales were down 1.1% from the same 43-week period a year ago. Fluctuations in exchange rates had a negative impact on the net sales of comparable merchandise of $ 40.1 million or 1.6% compared to the same period of the previous year.

About PriceSmart

PriceSmart, headquartered at San Diego, owns and operates American-style commercial warehouse clubs in Latin America and the Caribbean, selling high quality goods and services at low prices to PriceSmart members. PriceSmart operates 46 warehouse clubs in 12 countries and one American territory (eight in Costa Rica; seven each in Colombia and Panama; five in the Dominican Republic, four in Trinity and Guatemala; three in Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the US Virgin Islands). The Company is currently building and planning to open a warehouse club in Bogota, Colombia in the second quarter of fiscal 2021.

The Company reports comparable merchandise net sales on a “same week” basis with 13 weeks in each quarter starting on a Monday and ending on a Sunday. Periods are set at the start of the fiscal year to provide as close a match as possible to the calendar month and quarter which are used for financial reporting purposes. This approach equalizes the number of weekend days and weekdays in each period for a better sales comparison, as we are seeing higher merchandise club sales on weekends. Each of the warehouse clubs used in the calculations has been open for at least 13 and a half calendar months before its results for the current period are compared with its results for the previous period.

The term “exchange rate” refers to the exchange rates the Company uses to convert net sales of merchandise and net sales of comparable merchandise for all countries where the functional currency is not the US dollar into US dollars. The Company calculates the effect of changes in exchange rates as the difference between current period operations converted using current period exchange rates and comparable period last year exchange rates. The Company believes that disclosure of the effects of currency fluctuations on the Company’s results provides investors with a better understanding of the underlying performance of the Company.

This press release may contain forward-looking statements regarding the anticipated future income and profits of the Company, the adequacy of future cash flows, the proposed openings of warehouse clubs, the performance of the Company relative to its competitors, the outcome of tax proceedings and related matters. These forward-looking statements include, without limitation, statements containing the words “expect”, “believe”, “will”, “may”, “should”, “plan”, “estimate”, “anticipate” , “Programmed”, and similar expressions, and the negative thereof. These statements are subject to risks and uncertainties which could cause actual results to differ materially, including, but not limited to: adverse changes in economic conditions in the Company’s markets, natural disasters, compliance risks, exchange rate volatility, competition, consumer and small business spending habits, political instability, increased costs associated with integrating online commerce with our traditional business, if the Company can perform successful strategic initiatives, breaches of security or privacy of member or company information, increased costs of product and service providers, disruption of supply chains, member or company information , increases in the costs of suppliers of products and services, disruption of business supply strains, factors and challenges related to COVID-19, including, among others, the duration of the pandemic, the unknown long-term economic impact, the impact of government policies and restrictions that have limited access ss for our members, and the shift in demand from discretionary or higher priced products to lower priced products, exposure to product liability claims and product recalls, collectability of monies owed to PriceSmart by governments, and other important factors discussed under the captions “Article 1A. Risk Factors ”and“ Section 7. Management’s Discussion and Analysis of Financial Position and Results of Operations ”in our Annual Report on Form 10-K for the year ended August 31, 2019 filed with the United States Securities and Exchange Commission (“SEC”) on October 29, 2019 and our quarterly report on Form 10-Q for the three months ended February 29, 2020 filed with the SEC on April 8, 2020. These risk factors may be updated from time to time in our other SEC filings, which are available on the SEC website at www.sec.gov. Forward-looking statements speak only as of the date on which they are made and the Company does not undertake to update them, except as required by law.

For more information, please contact Michael L. McCleary, EVP, Chief Financial Officer and Principal Accounting Officer (858) 404-8826 or send an email to [email protected].

SOURCE PriceSmart, Inc.

Related links

http://www.pricesmart.com

These days, it’s not enough for convenience stores to only offer coffee, tobacco, and a quick bite to eat. As convenience store inventories increase, so do consumer expectations. More and more customers expect to be able to purchase basic household items on the go without having to make a second stop.

Growing demand for essential household items in convenience stores

Understanding shoppers’ regularity is essential: For an overwhelming number of consumers, purchasing essentials from a convenience store is part of their weekly or monthly routine rather than a last resort. According to Technomic Q1 2020 C-Store MarketBreef, 61% of convenience store consumers buy housewares from a convenience store every week, and 91% buy housewares once a month, reflecting an increase in weekly and monthly shoppers from the previous quarter. This indicates that the successful marketing and positioning of retailers has led consumers to view the convenience store as a place that shoppers can rely on to regularly transport the everyday items they need.

Cellular accessories, in particular, are fast becoming a product group that more and more consumers are buying in convenience stores before looking elsewhere. If a consumer finds out that they forgot their phone charger or headphones while away, for example, a convenience store is likely to be one of the easiest places to stop and buy them. Since these items are frequently purchased on the go, it is essential that convenience stores strive to create effective and memorable merchandising so that convenience stores are a priority when the need arises.

Best Practices for Marketing Convenience Store Electronics

Smart positioning of products in-store is one of the simplest changes a retailer can make. Placing electronic devices near the checkout is probably the best option: it can encourage impulse buying and reduce shrinkage. At the very least, this ensures visibility to all customers making a purchase, increasing the likelihood that a consumer will think about visiting the convenience store the next time they need a charger or a pair of headphones for a while. that he is on the move.

An in-store display with eye-catching signage that stands out among shoppers is essential for educating consumers and reminding consumers that the convenience store has reliable phone accessories. Direct store service providers like Associated Distributors have highly trained representatives dedicated to maintaining attractive in-store displays with a consistent assortment of top-selling products. With the help of experts, convenience stores are better prepared when the time comes for a consumer to purchase replacement cellular accessories.

Associated Distributors is also a proven supplier with manufacturer-certified charging cables, car chargers, power banks, and headphones. Convenience stores that offer a high-quality selection of electronics that consumers need in a pinch are more likely to retain consumers and earn higher profit margins as well. Providing reliable electronics is essential to retain consumers. There are many suppliers who sell electronics to convenience stores, but many offer poor quality products that lead to high returns on investment and low buyer satisfaction. Reliable products sold by Associate Distributors provide the time-saving benefits of a convenience store and allow consumers to purchase electronics quickly and easily. To learn more about the increased sales of cellular accessories in convenience stores, visit Associatedistributors.net or lildrugstore.com/products/cellular-accessories.

This article is sponsored by associated distributors

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