Providing over 45 hours of great education for the Mobile Electronics industry
North Andover, MA – March 19, 2021 – The Mobile Electronics Association kicks off their second virtual KnowledgeFest event focused on West Coast specialty retailers. The event starts today, Friday, March 19th and continues through Sunday, March 21st and will be held on Pacific Time to include the many retailers that would have attended the Long Beach California KnowledgeFest event. While focused on the Western half of the nation, the virtual event is great for everyone to attend regardless of their Time Zone. The event will produce three keynotes, 21 education workshops, and 22 manufacturer training sessions for over 45 hours of valuable education.
“While nothing can replace the excitement of an in-person event, KnowledgeFest LIVE is designed to deliver a feeling of connection that will help the industry enjoy the awesome education, vendor training, and networking KnowledgeFest is known to provide.” said Chris Cook, MEA President. “Our virtual experience delivers the best way to connect when in-person events are not yet possible.
The event will be presented through MEA’s digital event platform allowing attendees to participate in education workshops, manufacturer trainings, and take a virtual tour of exhibitor spaces to preview their featured products and show vehicles.
For more information on KnowledgeFest West LIVE or to Regsiter for the event visit KnowledgeFestWest.Live.
Mark your Calendars for Upcoming KnowledgeFest in-person events:
June 25-27, 2021 – Orlando, FL – In-Person with Live Streaming
August 27-29, 2021 – Dallas, TX – In-Person with Live Streaming
October 8-10, 2021 – Indianapolis, IN – In-Person with Live Streaming
About the Mobile Electronics Association
Mobile Electronics Association (MEA) is a trade association comprised of installing dealers and product vendors dedicated to serving the needs of the mobile electronics specialist industry. MEA owns and produces KnowledgeFest, regional trade-only industry events that combine educational programming and vendor training with a trade show floor. MEA owns and publishes the monthly Mobile Electronics® magazine, which is the industry’s #1 resource, as well as other digital media, including websites and the industry’s e-newsletter Hotwire. MEA provides software and data-driven services to vendors and retailers. Learn more at mobile-electronics.com.
Media Contact:
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978-645-6434
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MEA announces the next event for the Mobile Electronics Industry
North Andover, MA – February 16, 2021 – The Mobile Electronics Association announced the next Live Virtual event to be held March 19-21, 2021. KnowledgeFest is going West to provide great education and training for the many retailers that will not be able to benefit from an in-person event in the first half of 2021. The event will be held on Pacific Time to include the many retailers that would have attended the Long Beach California KnowledgeFest event. While focused on the Western half of the nation, the great thing about a virtual event is that everyone can attend regardless of their geographic location.
“The industry can expect highly relevant education workshops taught by some of the best instructors in the industry.” said Chris Cook, MEA President. “In addition, top manufacturers will be featuring education on their products and services all in an effort to better prepare specialty retailers for the 2021 selling season.” “We took the time to survey the retailers that attended the past three KnowledgeFest Long Beach events and they overwhelmingly stated that they would attend a virtual event targeted towards the Pacific Time Zone.” added Cook.
While nothing can replace the excitement of an in-person event, KnowledgeFest LIVE is designed to deliver a feeling of connection that will help the industry enjoy the awesome education, vendor training, and networking KnowledgeFest is known to provide.
MEA expects to conduct webinars over the next few weeks to demonstrate the virtual event for attendees and exhibitors. KnowledgeFest LIVE is a virtual experience for retailers, sales reps, and manufacturers to connect when in-person events are not possible. The event will be presented through MEA’s digital platform allowing attendees to participate in education workshops, manufacturer trainings, and take a virtual tour of exhibitor spaces
To register for KnowledgeFest West LIVE or get information on how your company can become an exhibitor, visit KnowledgeFestWest.Live.
Mark your Calendars for Upcoming KnowledgeFest events:
- - March 19-21, 2021 – Virtual Event
- - June 25-27, 2021 – Orlando, FL – In-Person and Live Streaming
- - August 27-29, 2021 – Dallas, TX – In-Person and Live Streaming
- - October 8-10, 2021 – Indianapolis, IN – In-Person and Live Streaming
About the Mobile Electronics Association
Mobile Electronics Association (MEA) is a trade association comprised of installing dealers and product vendors dedicated to serving the needs of the mobile electronics specialist industry. MEA owns and produces KnowledgeFest, regional trade-only industry events that combine educational programming and vendor training with a trade show floor. MEA owns and publishes the monthly Mobile Electronics® magazine, which is the industry’s #1 resource, as well as other digital media, including websites and the industry’s e-newsletter Hotwire. MEA provides software and data-driven services to vendors and retailers. Learn more at mobile-electronics.com.
Media Contact:
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978-645-6434
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Mobile Electronics Magazine Top 10 Most Read Stories of the Decade
Click on the Title below to review Top Stories
2020 – Strategy & Tactics for March 2020 - Rules of the Game
2019 – ME-Mag January Issue Feature: What’s Happening: MECP in the Year Ahead
2018 – What's Happening - The DSP Trend and How it’s Changing the Industry
2017 – December Issue Feature: The Support Team - The Chosen Ones
2016 – VOXX Electronics Announces the Launch of Facebook Group ‘VOXX TECH’!
2015 – Three Reasons Why it’s Time for an Apple Car
2014 – Q&A with Andy Wehmeyer of Audiofrog
2013 – Digital Dashboard Drives Detroit Debuts
2012 – Mild Remote Start Season Worrisome for East Coast Retailers
2011 – Keynote Addresses from OnStar and Aha by Harman at KnowledgeFest 2011 – Content no longer available on ME-Mag.com - Reference from CE Outlook
2010 – MERA (now MEA) to Relaunch KnowledgeFest in Dallas, TX - Content no longer available on ME-Mag.com - Reference from CE Outlook
Mobile Electronics Magazine Top 10 Most Read Stories of 2020
Click on the Title to review Top Stories
#1. Strategy & Tactics for March 2020 - Rules of the Game
#2. Difference Makers for February March 2020 - Deep in the Heartland
#3. March Issue Feature: Real World Retail - Ocala Car Audio
#4. Magazine Feature - KarTele Mobile Electronics in Real World Retail
#5. Strategy & Tactics: Identifying and Overcoming Negative Habits and Behaviors
#6. Magazine Feature - LIS Audio in Real World Retail
#7. Listen to Learning from Leaders with Alex Camara, CEO of AudioControl
#8. What's Happening - The Industry Responds to COVID-19 - April Issue Feature
#9. ME-Mag Editors Forum: Open for Business
#10. Magazine Feature: What's Happening - Summer Sales Skyrocket in the Wake of COVID-19
[Read] the on the digital platform for Mobile Electronics magazine
Thankful
Finding blessings in the midst of chaos
All of us have our own stories about the challenges we faced this year. It seems as if no one has escaped the pandemic effect. However, we all have something to be thankful for, too. Regardless of your situation, it’s important to pause and perhaps reflect upon things for which we can be thankful. You see, being thankful doesn’t mean you enjoyed the situation. But it does mean that, in the end, you understood and met the challenge, leaving you appreciative that you either overcame it or learned a valuable lesson that helped you grow personally, professionally or both.
My opening subtitle states, “Finding blessings in the midst of chaos.” When I think of chaos, I look at the many things at work to divide us. I found it heartbreaking that topics in the daily news left us arguing with each other. The complete lack of understanding by those who were chosen to lead us through this pandemic contributed to the confusion. Some news outlets reported good information while others reported not-so-good information. As a result, many of us argued these points amongst ourselves.
Many of these arguments played out on social media. Otherwise rational people chose sides and defended what they believed to be the truth. While I enjoy a robust and engaging discussion as much as the next person, this went beyond reasonable discussion. I spoke to many who lost friends in these arguments over topics such as medical and political information. This was the chaos to which I referred in my opening subtitle.
Yes, the pandemic, riots and political posturing were not the only things that produced chaos. The real chaos was related to all of those we’ve lost over the past year. Those for whom we can only seek to honor their memories. For those who’ve lost someone or something this year, I can only say that I am truly sorry you had to bear the brunt of the heartbreak produced in part from this pandemic.
I also opened this column with the title “Thankful.” Why? Where is the blessing, the silver-lined cloud we seek?
I am thankful for my family, friends and those of you who are part of the family we call our industry. I know every industry has unique attributes which give it an identity. But when I say I am thankful, I refer to the mobile electronics industry. We are unique in ways I have not experienced in other industries. Our identity is rooted in our desire and actions to help and support others in time of need. Arguments aside, I believe the blessing is in our actions to reach out and lift up those in need, those torn by forces out of their control. Acts of kindness greatly outweigh the chaos and go a long way toward defining who and what we are as an industry.
This year nearly all of us have suffered loss and disappointment in some way. In that, we have grown closer as an industry. We have also reaped the blessings of increased awareness and business which have in turn provided for our associates and our families.
Today, I challenge you to pause and reflect on the many blessings we have, and seek to mend any damaged friendships, because it’s important that we be there for each other and support one another in times of need—regardless of differing opinions.
I look forward to the New Year, to new beginnings and to blessings I know we’ll have as we continue to grow together to produce the awesome experiences that only our industry can provide.
Read the latest issue of Mobile Electronics magazine [Click Here]
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MEA’s first virtual event hosted a record number of retailers
North Andover, MA – December 22, 2020 –The Mobile Electronics Association (MEA) hosted its largest KnowledgeFest to date as a virtual event. The trade show and conference led with an industry first technology that allowed attendees to connect live with exhibitors. Exhibitors received nearly 13,000 booth visits with nearly 20,000 views of exhibitor-related content. The event also launched a new sales rep networking feature called “Rep Connect.” Over 45 sales reps were engaged with hundreds of attendees. When it comes to KnowledgeFest education and training, no event can compare. The education and training had over 5,600 in attendance for the 60 hours of education workshops, manufacturer trainings and keynotes. And when it came to live interaction, over 1,200 attendees enjoyed the new live booth experience allowing them to connect and interact with exhibitors.
“Due in part to the event’s online platform, KnowledgeFest.Live saw a record number of attendees totaling over 2,500 from across the country and around the globe,” stated MEA president Chris Cook. “the event featured more than 30 brands, 24 show cars displayed in the online platform, five keynotes and events, and 57 manufacturer trainings and educational workshops.”
Finishing the event was the annual Mobile Electronics Industry Awards that that was live-streamed on Facebook and YouTube. The event has more than 4,000 views and 850 comments making it our largest audience to date. At the opening of the awards, Mr. Cook encouraged viewers and attendees to see the coming year as a “comeback,” and to take the time to develop new relationships with customers, new opportunities for businesses, and instead of a “new normal,” focus on utilizing newly acquired knowledge to spark future successes. “It’s been a difficult and challenging year,” Mr. Cook noted, adding, “One we will never forget and for many, we can’t wait until it’s over. Let’s make sure we reflect on this experience and think about how we adapted, learned and—in many cases—conquered.”
MEA will host the KnowledgeFest.Live education workshops, select manufacturer trainings, keynotes on-demand through the end of 2021. Stay tuned for future KnowledgeFest.Live event announcements for 2021 as MEA looks towards the future of online and hybrid events to meet the education needs of our industry.
About the Mobile Electronics Association
Mobile Electronics Association (MEA) is a trade association comprised of installing dealers and product vendors dedicated to serving the needs of the mobile electronics specialist industry. MEA owns and produces KnowledgeFest, regional trade-only industry events that combine educational programming and vendor training with a trade show floor. MEA owns and publishes the monthly Mobile Electronics® magazine, which is the industry’s #1 resource, as well as other digital media, including websites and the industry’s e-newsletter Hotwire. MEA provides software and data-driven services to vendors and retailers.
Learn more at mobile-electronics.com
Media Contact:
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978-645-6434
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The virtual event was broadcast live to thousands of viewers
North Andover, Mass. – December 13, 2020 – The Mobile Electronics® Association (MEA) announced the winners of the 2020 Mobile Electronics Industry Awards. The awards were presented Sunday evening at the conclusion of a successful KnowledgeFest.Live virtual event. The awards recognize and honor professionals in the mobile electronics industry that exhibit outstanding service, business ethics, professionalism, and expertise in their field.
Chris Cook, President of MEA, hosted the event which was viewed online by thousands of industry professionals, including family and friends, from the United States and around the globe. Top honors for Installer of the Year went to Justin Kush of Mobile Toys Inc. in College Station, Texas. Retailer of the Year (single store) was awarded to both Divine Concepts, Naples, Fla. and Car-Tunes, Greenville, Miss. Sales Pro of the Year went to Jason Kranitz of Kingpin Car & Marine Audio in Henderson, Nev. and Trusted Tech of the Year went to Chris McNulty of Kingpin University in Henderson, Nev. Vendor of the Year went to AudioControl and Distributor of the Year went to DOW Electronics.
Installer of the Year
Justin Kush – Mobile Toys Inc. – College Station, TX
Installer of the Year – Runner-Up
Dean Beyett – Five Star Car Stereo – Clearwater, FL
Sales Pro Award Winner
Jason Kranitz – Kingpin Car & Marine Audio – Henderson, NV
Trusted Tech Award Winner
Chris McNulty – Kingpin Car & Marine Audio – Henderson, NV
Retailer of the Year
Car-Tunes Inc. – Greenville, MS
Retailer of the Year
Divine Concepts – Naples, FL
Retailer of the Year Runner-up
Mobile Toys Inc. – College Station, TX
Retailer of the Year Runner-up
Traffic Jams Motorsports – Buford, GA
Rookie of the Year
Oscar Rodriguez – J’s Tint & Car Audio – Dallas, TX
Most Improved Store or Chain
KarTele Mobile Electronics – Waterbury, CT
Best Online Presence
NVS Audio – Roselle, NJ
Best Customer Retention Program
JML Audio of St. Louis – Fenton, MO
Best Customer Experience
Elevated Audio – Denver, CO
Best Store Culture
Traffic Jams Motorsports – Buford, GA
Customer Choice Award
Mobile Toys Inc. – College Station, TX
Career Achievement Award
Tom Malone
Expeditor of the Year
American Radio
Distributor of the Year
DOW Electronics
Rep Firm of the Year
Marketing Pros – Arlington, TX
Rep of the Year
Mike Rundel, Sony
Vendor of the Year
AudioControl
Top Vendor: Autosound & Processing
Sony
Top Vendor: Security, Safety and Driver Assistance
AAMP
Top Vendor: Accessories and Materials
Metra Electronics
Top Vendor: Infotainment & Multimedia
Sony
Top Vendor: Powersports & Marine
JL Audio
About the Mobile Electronics Association
Mobile Electronics Association (MEA) is a trade association comprised of installing dealers and product vendors dedicated to serving the needs of the mobile electronics specialist industry. MEA owns and produces KnowledgeFest, regional trade-only industry events that combine educational programming and vendor training with a trade show floor. MEA owns and publishes the monthly Mobile Electronics® magazine, which is the industry’s #1 resource, as well as other digital media, including websites and the industry’s e-newsletter Hotwire. MEA provides software and data-driven services to vendors and retailers. Learn more at mobile-electronics.com.
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Victory for the Aftermarket
Question 1 "Right to Repair" wirelessly that was on the Massachusetts ballot passed by a 3 to 1 margin. Massachusetts became the battleground again for automakers versus independent repair shops and the associations representing them, to require automakers to make available the vehicle data sent wireless (telematics) for all vehicles sold after 2022.
The original Massachusetts Right to Repair act passed in 2012 requiring automobile manufacturers to provide the necessary documents and information to allow anyone to repair their own vehicle. While not passed at the federal level, the major automobile trade organizations signed a memorandum to agree to abide by Massachusetts' law in all fifty states starting in the 2018 automotive year. This action will be an amendment to the existing 2012 law. If this amendment is also adapted to the existing agreement covering all 50 states, this could be a game changer for the mobile electronics industry allowing universal access to the vehicle bus, something the aftermarket industry has been desiring for decades.
Although independent repair shops could still diagnose vehicle problems through the OBDII port, automakers had an unfair advantage of doing so wirelessly with vehicles having connected services. They could receive maintenance alerts and contact vehicle owners for service in advance. In some cases, they may even be able to make repairs by resetting error codes or updating software over the air. These same Telematics services enable automakers to offer vehicle owners APPs that will allow them to identify vehicle diagnostic information as well as receive alerts related to low battery voltage or vehicle movement. A signal is required to be sent to the vehicle to run the diagnostic test. This type of control is leveraged to lock and unlock doors and, in some cases, remotely start the vehicle.
This new legislation could be significant to the aftermarket mobile electronics industry. Just as mobile electronics manufacturers have been able to innovate new products connecting to OBDII port, now aftermarket devices and/or APPs can be developed to enhance or enable many vehicle owners’ features. For example, a future keyless entry and remote start add-on may simply be done by downloading an APP setup by the vehicle owner with proper vehicle access credentials. No doubt, aftermarket devices requiring installation will be designed to take advantage of this universal connected service. As Massachusetts based companies, both InstallerNet and the Mobile Electronics Association collaborated with the Auto Care Association to provide testimonials early this year at a hearing held by the Joint Committee on Consumer Protection of Massachusetts Legislature regarding Massachusetts Vehicle Data Access Legislation. That hearing was the first step in the state’s consideration of the data access legislation that has now become law in Massachusetts. The new law amends the state’s existing Right to Repair law —thus ensuring consumers continued choice in vehicle repair.
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Come Together
One industry, association and purpose.
A little over ten years ago—November 4, 2009 to be exact—I stood on a stage at the SEMA Show with a few other industry leaders to announce the purchase of MERA (now MEA) and that we would be re-launching a new KnowledgeFest on October 10, 2010 (10-10-10) in Dallas, Texas. At that launch, we played a fitting tune: The Beatles’ “Come Together.” Why that song, you ask? It was the prelude for our mission to unite a very fractured industry. It came from a strong desire to create an association that brought a group of talented albeit underrepresented individuals together for a common purpose, to improve upon each other and the industry in the process. To create an association with benefits that either saved or made our members money. One that focused on great education opportunities and provided highly relevant information, thus empowering our industry to thrive.
Bringing Benefits to Specialty Retailers
Back in 2008, the association had dwindled to less than 100 members and was no longer able to support the trade event that had been held every year since 1993. Knowing this, we set out to relaunch the associations premiere trade event, KnowledgeFest. Looking back, it was a great accomplishment and a good first step to creating something that provided a learning environment for the benefit of the entire industry. However, an event was not the only thing to revive. Next, we set out to review the offered benefits from the association and decide how best to move forward with value for our members.
Our goal was to create an association that provided benefits to assist specialty retailers with technology and services. These benefits should either save retailers money, help them make money, or both. We added the industry’s best-known point-of-sale and scheduling software, Total Sales and Scheduling (TSS), to our arsenal. Then we added a long-time standard for vehicle fitment and wiring information, the Mobile Automotive Information Database (MAID). Both were transferred from our parent company, InstallerNet. These two technology offerings provide high value to our members. To date, most of our members use them. Soon after, we added websites and in-store signage solutions to round out these offerings. However, this was only the beginning.
Nurturing Continued Growth Year Over Year
Next, we sought out partners to provide great member benefits that met or exceeded our standards. One of those partners is the Member Savings Program. Our partnership provided benefits that save members thousands of dollars per year through the buying power of a group purchasing alliance made up of over 150 associations.
In an effort to present our members to consumers, we created a consumer-focused website that provides members with a listing including their location, hours of operation, company slogan and links to website and social media sites. Check it out at www.MEAPreferred.com. Take some time to review the benefits, and you’ll find discount shipping programs, savings on payroll processing, free registration to KnowledgeFest events, professional business coaching and Mobile Electronics magazine. These are just some examples of the many cost-saving and money-making benefits of being an MEA member.
Today, MEA is over 1,000 members strong. Your mobile electronics (trade) association consists of manufacturers, retailers and service providers of automotive aftermarket technology products. Through our coast-to-coast offering of KnowledgeFest trade shows and conferences, we can provide top-notch education, networking opportunities and business services designed to advance professionalism and profitability for all of the industry's stakeholders.
Providing Top-Tier Education
Our publication, Mobile Electronics magazine, is the industry’s #1 resource with more than 18,000 digital subscribers. The monthly publication acknowledges top retailers, installers and suppliers through the annual Mobile Electronics Industry Awards.
Finally, KnowledgeFest provides a three-day event with emphasis on experience, learning and connecting with others in the mobile electronics industry. These events provide you with the best opportunity to learn from other successful industry professionals at either Long Beach, Calif., Indianapolis, Ind., Orlando, Fla. and or Dallas, Texas. Finishing out 2020 we will celebrate with our first-ever virtual KnowledgeFest.
When it comes to the Mobile Electronics industry, many of us who’ve been around a few years will tell you that when it comes to organizations looking to represent this unique group of people, there have been a few that properly represent all stakeholders. Know that the Mobile Electronics Association will always be here to lead the industry though both the good times and the not-so-good times. I look forward to hearing from you on how we can service you better. Please feel free to contact me or any of our team to learn how you can reap the benefits.
Read the latest issue of Mobile Electronics magazine [Click Here]
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[Read] the on the digital platform for Mobile Electronics magazine
Taking Time out for a Pandemic
This year continues to bring new beginnings to our industry—and endings.
When the year began, many of us celebrated. We may have taken time to reflect on the past year and our performance related to both our failures and accomplishments. For some reason, we tend to view the first of January with a renewed sense of commitment to our future selves. As the year progressed, we discovered life might not be unfolding the way we were hoped. While pondering global issues is great for an evening of pontification on Facebook, it’s far from what each of us has endured over the past few months. I don’t believe any of us could have predicted or even imagined these unusual circumstances.
First, let’s look at some of the endings. As of this writing, Yelp disclosed that, as of the end of August, over 160,000 businesses indicated they have closed. That was down from the 180,000 that closed at the very beginning of the pandemic. This represents a 23 percent increase in the number of closures since mid-July. In addition to monitoring closed businesses, Yelp also considers the businesses whose closures have become permanent. That number has steadily increased throughout the past six months, reaching nearly 100,000, representing 60 percent of closed businesses that won’t be reopening. We have also witnessed businesses scaling back, filing for bankruptcy protection, and closing for good on a scale that few of us have ever seen before. Names like Brooks Brothers, Gold’s Gym, Neiman Marcus, JC Penny and Hertz, to name a few, have all filed for bankruptcy protection. Regardless of who you are, chances are that this scaling back and business closures have affected you in some way. I am thankful that very few in our industry have had to close. The reports we received revealed a handful of specialty retailers that haven’t made it through the pandemic.
However, in the midst of tragedy, our industry has flourished. Many businesses had to temporarily close at the beginning of the pandemic. Some were able to operate as essential businesses, but with limited opportunity since many potential customers were staying home. But the vast majority reported that once they’d reopened, business not only went up, but way up. Many attributed this initially to stimulus checks and additional income from stimulus-related unemployment benefits. While that has since dried up, the increase in sales have not. If fact, they continue to increase despite industry shortages, continued restrictions and unemployment numbers. It seems that our industry continues to benefit partially from pent-up demand and from an influx of new customers who are spending on vehicle technology rather than experiences like concerts or theme parks. And with reduced air travel, people are upgrading for family road trips.
There have also been other new beginnings. New terms have entered our conversation, terms like social distancing, flattening the curve and community spread. None of them should appear on your favorites list. In addition, we have learned to Zoom, or use video conferencing and webinars, instead of meeting face-to-face. This new trend is being used to attend schools, have government meetings, and for our industry, provide continuing education. This shift in socialization has allowed our industry to stay connected despite having to miss all important events like KnowledgeFest, SEMA and even CES. On a more regional level, some distributors have used Zoom-like technologies to host events with good success. I have personally spoken as a panelist, keynote and presenter at countless events. I can tell you firsthand that while I appreciate the opportunities, I truly miss the face-to-face presentations which allow greater interaction with the audience. But for now, I am thankful for every opportunity to connect with other industry professionals regardless of the challenges that webinars present.
Until we are all able to meet once again face-to-face, I challenge you to take the time to attend as many webinars as you are able. Also, take the time to pick up the phone and call someone and encourage them. As you do, you will find that all of us have a story and all of us have learned lessons that will be part of some great conversations when we all can meet again. Until then, stay safe and healthy!
Read the latest issue of Mobile Electronics magazine [Click Here]
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MEA cancels the in-person event in response to new COVID threat level in Dallas
North Andover, MA – October 16, 2020 – Despite a strong number of retailers in the Dallas area indicating a willingness to attend KnowledgeFest LIVE, the Mobile Electronics Association (MEA) announced today that it had to cancel the in-person portion of KnowledgeFest LIVE in December due to new Dallas County orders regarding COVID-19 health guidance for the public which recently changed to their highest-level Red meaning “Stay at home, stay safe”.
“It’s unfortunate as our industry was looking forward to having a live event.” said Chris Cook, MEA President. “We had strong support from exhibitors and retailers wanting to attend in-person. We will now target all of our efforts towards delivering a valuable virtual KnowledgeFest LIVE event”.
MEA expects to conduct webinars over the next few weeks to demonstrate the virtual event for attendees and exhibitors. KnowledgeFest LIVE was always going to include a virtual experience to accommodate both retailers and manufacturers not able to attend due to company travel restrictions.
The event will be presented through a new digital platform allowing attendees to participate in education workshops, manufacturer trainings, and take a virtual tour of exhibitor booths.
KnowledgeFest LIVE will also announce and celebrate the winners of the Mobile Electronics Industry Awards during a special live evening event.
To register for KnowledgeFest LIVE or get information on how your company can become an exhibitor, visit KnowledgeFest.org
Upcoming KnowledgeFest events:
- December 4-6, 2020 - Virtual
- February 9-11, 2021 - Long Beach, CA
- April 9-11, 2021 - Indianapolis, IN
- June 25-27, 2021 - Orlando, FL
- August 6-8, 2021 – Dallas, TX
About the Mobile Electronics Association
Mobile Electronics Association (MEA) is a trade association comprised of installing dealers and product vendors dedicated to serving the needs of the mobile electronics specialist industry. MEA owns and produces KnowledgeFest, regional trade-only industry events that combine educational programming and vendor training with a trade show floor. MEA owns and publishes the monthly Mobile Electronics® magazine, which is the industry’s #1 resource, as well as other digital media, including websites and the industry’s e-newsletter Hotwire. MEA provides software and data-driven services to vendors and retailers. Learn more at mobile-electronics.com.
Media Contact:
This email address is being protected from spambots. You need JavaScript enabled to view it.
978-645-6434
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09 Oct
Mobile Electronics Announces 2020 Top 12 Retailers and Installers, and Finalists for All Awards
North Andover, Mass., – October 09, 2020 – Mobile Electronics announced the finalists for the 2020 Industry Awards yesterday, live on Zoom and its Facebook page. MEA President, Chris Cook held the Finalists Presentation, in which The Top 12 Retailers, Top 12 Installers, Top 5 Technicians and new Top 5 Sales Professionals and other awards were announced. Also noted were the "Top 3" and "Top 5" awards for finalists in the vendor, expeditor, sales rep, rep firm and distributor categories, as well as the top 5 Technicians denoting the finalists for the coveted Trusted Tech award. Each "Top" award recipient will receive a signed wall certificate.
While the final stage of the Industry Awards will be held in Dallas during KnowledgeFest, Cook noted that the announcement produced its own set of winners.
"It's important to recognize that making it to the Top 12, Top 5 and Top 3 categories signals a major achievement in this industry," he explained. "It means that these individuals, stores, brands and companies are part of a unique group that represents the best of our industry. We're overdue in recognizing the significance of their efforts, and I am proud to create a special event for that purpose.
Some of the award categories are decided solely on industry votes. For these, the top vote-getter will be announced at KnowledgeFest as the ultimate winner of the category. For the Top 12 retailers, Top 12 Installers, Top 5 Technicians and Top 5 Sales Professionals, each recipient will need to submit additional materials for judging to determine the winner in each category.
The finalists lists can be viewed at meindustryawards.com by clicking on the Winners tab and selecting '2020' winners. To view the 2020 Industry Awards Finalists Presentation, visit the Mobile Electronics magazine page on Facebook at https://www.facebook.com/MobileElectronics. The final awards will be announced at the Mobile Electronics Industry Awards celebration during the KnowledgeFest trade show and conference in Dallas, December 4-6. For more information, visit www.meindustryawards.com.
2020 Top 12 Installers
Marty Adamschek – Andres Electronics – Courtenay, BC
Nick Apicella – Apicella Auto Sound – Stony Point, NY
Dean Beyett – Five Star Car Stereo – Clearwater, FL
Michael Bischoff – Traffic Jams Motorsports – Buford, GA
John Brettle – Cartunes of Atlanta – Atlanta, GA
Phillip Cantu – Elevated Audio – Lakewood, CO
Adam Devine – Devine Concepts – Naples, FL
Nicholas Frazier – iNNovative Concepts – Wilbraham, MA
Justin Kush – Mobile Toys Inc. – College Station, TX
Jaime Palafox – Agoura Autosounds – Agoura Hills, CA
Dalton Trainer – Car-Tunes Inc. – Greenville, MS
Matt Vowell – Mobile Toys Inc. – College Station, TX
Alternants:
#2: Christopher – Labonte Vibe Car Audio – Red Deer, AB
#1: Jesse Rhodes – Boomers Audio – Tulsa, OK
2020 Top 12 Retailers
Absolute Electronix – Rockville, MD
Apicella Auto Sound – Stony Point, NY
Audio Systems – Moreno Valley, CA
Car-Tunes – Greenville, MS
Devine Concepts – Naples, FL
Elevated Audio – Lakewood, CO
iNNovative Concepts – Wilbraham, MA
Mobile Toys Inc. – College Station, TX
NVS Audio – Roselle, NJ
Traffic Jams Motorsports – Buford, GA
Showtime Audio – Chicago, IL
Titan Motoring – Nashville, TN
Alternants:
#2: SoundsGood Auto – Burnaby, BC
#1: Foss Audio & Tint – Tukwila, WA
2020 Top 5 Sales Professionals
Donald Darouse – Elevated Audio – Lakewood, CO
Jason Kranitz – Kingpin Car & Marine Audio – Henderson, NV
Corbin May – Visions Electronics – Grand Prairie, AB
Jim Skaggs – Mobile Toys Inc. – College Station, TX
Ronald Venable – Traffic Jams Motorsports – Buford, GA
2020 Top 5 Technicians
Dean Beyett – Five Star Car Stereo – Clearwater, FL
John Brettle – Cartunes of Atlanta – Atlanta, GA
Phillip Cantu – Elevated Audio – Lakewood, CO
Nicholas Frazier – Innovative Concepts – West Springfield, MA
Matt Vowell Mobile Toys Inc. College Station, TX
2020 Rookie of the Year
Timothy Langevin – Innovative Concepts – Wilbraham, MA
Oscar Rodriguez – J’s Tint & Car Audio – Dallas
Saul Sanchez – NVS Audio – Roselle, NJ
2020 Performance Awards
Most Improved Location
806 Autoworks
Apicella Auto Sound
KarTele Mobile Electronics
Best Online Presence
Apicella Auto Sound
Elevated Audio
NVS Audio
Best Customer Retention Program
JML Audio of St. Louis
The Car Audio Shop
Tunes-N-Tint
Best Customer Experience
Apicella Auto Sound
Elevated Audio
JML Audio of St. Louis
Best Store Culture
Apicella Auto Sound
Ocala Car Audio
Traffic Jams Motorsports
2020 Top 3 Expeditors
American Radio
Sound FX
Titan Motoring
2020 Top 3 Distributors
Davis Distribution
DOW Electronics
GoFast Solutions
2020 Top 5 Rep Firms
12 Volt Marketing Group
12 Volt Specialist
Echo Sales
MAG Sales
Marketing Pros
2020 Top 5 Sales Reps
Nalaka Adikari – ORCA Designe
Jon Brothers – Metra Electronics
Mike Eckley – AAMP Gloobal
Jonathan Mercado – GoFast
Mike Rundel – SONY
2020 Top 3 Vendors - Autosound & Processing
AudioControl
JL Audio
Sony
2020 Top 3 Vendors - Accessories & Materials
AAMP Global
Metra Electronics
Mobile Solutions
2020 Top 3 Vendors - Infotainment & Multimedia
Alpine Electronics
KENWOOD
SONY
2020 Top 3 Vendors - Security, Safety & Driver Assistance
AAMP Global
Firstech
Voxx Electronics
2020 Top 3 Vendors - Powersports & Marine
JL Audio
Kicker
Rockford Fosgate
03 Sep
Watch-Listen-Read the Mobile Electronics Editors Forum: Focus and Finish Strong
Thursday, 03 September 2020
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[Read] the on the digital platform for Mobile Electronics magazine
Focus and Finish Strong
It’s time to make the most of the opportunity.
We are facing many challenges as an industry. We experienced a lapse in business, followed by a huge increase, and major product shortages. What could be next? No one really knows.
Here’s what we do know: You’ll be opening your doors with great expectations, focused on closing the sale and delivering the highest quality customer service, along with keeping your team motivated and happy. In the midst of your daily mission, it’s important to review your numbers and ensure being busy translates to growth and prosperity.
Track and review your business’s performance
The first two quarters of the year are behind us. The third quarter is in play. How we finish this one is essential when it comes to setting up your business for the final quarter of the year. Some of us view this with anticipation and others with trepidation. Regardless of your outlook, it’s imperative to focus on making the numbers at this all-important time for your business.
When measuring success, there are a couple benchmarks to review. One is year-over-year performance. The other is daily, weekly and month-to-month performance. How your business performed over the last year is a good indicator of gross revenue growth. First, review the current month as it relates to the same month last year. Then, review your year-to-date performance versus the same period to date for the previous year. This allows you to better understand your seasonal performance and your overall performance to date.
When reviewing daily, weekly and monthly performance, focus on daily revenue and whether it’s increasing, decreasing or staying relatively flat. Tracking daily, weekly and monthly gross revenue will help you see current trends, allowing you to adjust and focus to meet your goals. There are many other key performance indicators (KPI) to track as part of your daily dashboard. However, when business is good and your team is stretched thin, the above KPIs will at the least give you a heads-up on performance. There’s nothing worse than being busy only to discover you’re not doing as well as you thought. Make sure you keep up with performance so you don’t look back in disappointment.
Do we have that in stock?
Speaking of disappointment. Many of you have indicated that inventory shortages have been inhibiting your ability to deliver on customer requests. Many of you have been enjoying the benefits of “just-in-time” delivery. In an inventory shortage environment, this practice can severely inhibit your ability to take advantage of the increased customer interest in your business. It’s extremely easy to become accustomed to letting others carry inventory levels to fulfill your business needs. This is not one of those times.
During inventory shortages, review what you have available to sell. Do this every day. Make a list, and share it with your team. Then focus on what’s available to make the sale. Next, contact each of your suppliers and request an update. Make sure you know what’s in the pipeline so you can fulfill the needs of customers looking for specific brands and or products. Again, share this information with your team. Find a way to say yes to your customer regardless of your situation.
Make the most of every sale
Lastly, focus on producing the most in every sale. When it’s business as usual, it’s much easier to focus on maximizing each sale. When you’re remarkably busy, not so much. This is the time when having processes in place will help you gain higher profitability. If you don’t have anything in place, don’t worry—there’s still time to do something that will keep you from losing out. Here are a few easy-to-implement ideas.
Review anything you have which could become an add-on for a sale. It could be a performance guarantee (a warranty), cleaning and detailing, non-mobile electronics products such as sunglasses, specialty items or services. Once identified, make sure each of these are offered to every customer.
If you want to go a step further, look at the top five or ten vehicles that tend to be repeats at your store. Then, make a list of things to offer to each. Communicate this with your team, and make sure these are offered every single time. Do this without fail, and I can guarantee it will not only increase your revenue, but it will also add to your bottom line!
Taking a few minutes out of your day to add these simple processes should help you focus on the main goal: Make or exceed your numbers today.
Read the latest issue of Mobile Electronics magazine [Click Here]
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KANSAS CITY, MO. (September 2, 2020) – CPS Distributors, Inc. will be showcasing a solid core mix of marine lighting products from Marine Sport® Lighting, an upcoming and popular brand amongst the marine industry over the last 3-4 years. CPS first partnered with Marine Sport® Lighting in 2019 and made their first debut with the brand at IBEX 2019 in Tampa Bay. Last years show produced several good prospects that helped CPS’s initial traction with the brand and let boat builders know they had a full spectrum lighting line up to service their projects, both big and small.
Marine Sport® Lighting is best known in the industry for their phenomenal line up of marine grade professional light bars used for high power vision on dark waterways. Their light bars are high quality with a line up of a variety of lengths, styles, and beam pattern options for spot or flood. Included in this popular family of products are some great docking and spreader lights on the auxiliary side.
Marine Sport® Lighting is making headway in the underwater category as well with their popular and fast growing HydroBLAST® family of lights. The HydroBLAST® family is a la carte and gives you an option between remote and smartphone controlled, with various colors and finishes in deck lighting, and an amazing array of high lumen underwater lights. For more information about this lighting system, please contact CPS or Marine Sport Lighting for more information.
Lastly, this company has many other great marine lighting solutions, led switches, voltage gauges and more. In 2021, be on the look out for a revolutionary new docking light designed by their engineers in conjunction with a yet to be named boat manufacturer in our industry. There is some other great new products on the horizon as well to look for at the IBEX Virtual Show.
About Marine Sport® Lighting.
Established in 2007, Race Sport Lighting is the parent company that founded and trademarked the Marine Sport® Lighting brand in 2015. Race Sport Lighting is a well-known leader in lighting technology to the Automotive and Mobile Electronics industries and has been aggressively growing their marine industry footprint. The company is well known for their diverse approach of being a one stop premier lighting supplier to multiple industries. Located in Ringwood, IL, their staff is extremely technical in lighting and electronics, and customer orientated in a way that has earned them multiple Vendor of the Year awards. https://www.racesportinc.com/marine-sport-lighting.html
About CPS Distributors, Inc.
Established in 1971, CPS Distributors, Inc. is the exclusive marine distributor of audio & equipment including JVC, Kicker®, Memphis, CPS brand, and lighting equipment from Marine Sport® Lighting. With a dedicated team of product specialists serving over 2,500 marinas, dealerships, and boat builders in the US and Canada, we specialize in assisting our customers with system design, technology and aftermarket products that enhance the enjoyment of the boating lifestyle. Located in Kansas City, Missouri, our staff of dedicated marine industry experts are here to help you add value to your business and customer experience. cpsdistributorsinc.com
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Winners from first phase of Industry Awards are semifinalists for top honors
NORTH ANDOVER, MASS., August 26, 2020 (MEDIAWIRE) — The Mobile Electronics Association (MEA) announced the winners from the first phase of the 2020 Mobile Electronics Industry Awards. The announcement comes after industry nominees submitted videos describing their business or professions. Judges appointed by the association reviewed the videos and selected the winners, comprising the Top 50 Installers, Top 50 Retailers and Top 20 Sales Professionals. The complete list of winners is posted at the official Industry Awards website, meindustryawards.com.
“I’d like to thank our judges for their diligence, objectivity and hard work during the first phase of our industry’s most important tradition,” said Solomon Daniels, program administrator. “In an industry where it seems everyone knows or knows of everyone else, it’s especially difficult to put all that aside and make judgements based on the merits of each submission.”
The judges for the first phase were Tim Baillie, current Installer of the Year; Richard Basler, director of membership at MEA; Chris Pate, owner of Mobile Toys Inc. in College Station, Texas and former Installer of the Year; Matt Schaeffer, former Installer of the Year and lead fabricator at Sound FX and Musaic in Lewes, Del.; and George Smith, owner of Mobileworks in Santa Maria, Calif.
Judges follow a score sheet that matches the requirements of the video, and mark scores based on completeness and depth of knowledge for each answer. They can also award additional points for exceptional insight, creativity, or uniqueness in a submission.
Winners at this stage also qualify as semi-finalists the top honors of Retailer of the Year, Installer of the Year and Sales Pro of the year. Top 50 Installers award recipients can also opt to run for 2020 Trusted Tech, an award given to professional installers who excel more from an electronics standpoint than a design standpoint.
The next phase of the competition features voting by industry professionals and consumers to narrow the semifinalists list down to finalists. These categories are joined by other categories of which industry professionals vote to select top suppliers, reps and rep firms, distributors, and expeditors, as well as retail locations that excel in specific business practices. Voting will begin Thursday, August 27 and run for three weeks.
“Even though the ultimate competition is ongoing, we want to take this opportunity to congratulate our Top 50 and Top 20 winners,” said Chris Cook, president of MEA. “These are major accomplishments in themselves and represent the hard work and growth of stores and individuals over the past year. It’s great to see that, despite the unprecedented events of the past few months, our industry members continue to strive to be the best and set examples for their peers.”
Voting will take place at meindustryawards.com. Visit the website for additional information on the Mobile Electronics Industry Awards.
About the Mobile Electronics Association
Mobile Electronics Association (MEA) is a trade association comprised of installing dealers and product vendors dedicated to serving the needs of the mobile electronics specialist industry. MEA owns and produces KnowledgeFest™, regional trade-only industry events that combine educational programming and vendor training with a trade show floor. MEA owns and publishes the monthly Mobile Electronics® magazine, which is the industry’s #1 resource, as well as other digital media, including websites and the industry’s e-newsletter Hotwire. MEA provides software and data-driven services to vendors and retailers. Learn more at mobile-electronics.com.
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Read the on the digital platform for Mobile Electronics magazine [Click Here]
Need Some Facetime?
Nothing can replace face-to-face networking with others in our industry.
From the beginning of the coronavirus outbreak, we’ve had to give up many things for the sake of our health and the health of others—all with consequences. We have sacrificed much, and hopefully, this will save many lives and eradicate the virus in the end, allowing society to resume normal life. Until then, we must learn to adapt and create our new normal. We have adopted practices based on a bit of science, politics and hopefully some good old common sense.
With that, we should all look forward to resuming life aware of the current pandemic. As I look forward to the future of face-to-face events, I am hopeful that those of us who provide them will create innovative ways to enjoy networking, education and the recognition we have come to cherish at the Mobile Electronics Industry Awards.
Is there a replacement for face-to-face events?
Let us explore some possibilities. When the pandemic started, we at MEA, as well as many manufacturers in our industry, launched webinars. These webinars help keep you connected to your suppliers and provide education and training that may have otherwise been accomplished during a local sales rep visit, distributor show, or regional and national industry events. Let me share from my own experience as a presenter and participant.
As a presenter, it’s extremely hard to gauge the audience. Without seeing expressions and body language, it is difficult to know if those listening or watching are attentive and engaged in the presentation. It’s the equivalent of doing a practice presentation in the mirror. Feedback in the form of questions and comments are helpful, but do not replace those in a face-to-face environment.
As a participant, my experience can be varied. At times, I am fully engaged with the presentation and sometimes I get distracted or lose focus. I can imagine that those of you at a shop have distractions, as well, in the form of customers. At the start of the pandemic when many shops were either closed or had significantly reduced business, there was plenty of time for webinars and the attendance numbers showed the same. As things opened back up, attendance was reduced along with the number of manufacturers providing webinars. This brings up a question in my mind: How can we return to the valuable facetime we enjoy while mitigating the health risk?
Good Information Helps Make Sound Decisions
As citizens of this great nation, the information we’ve received has varied in accuracy. We can all debate about who’s right or wrong, and what is the best source for information. Just open any social media app, and everything runs wild. As for me, I look for good data sources and try to understand how best to protect myself and others. As it relates to retail stores reopening, many of you have figured out a process for which you feel comfortable. Bottom line: It’s your business, and you need to do what you feel is best for you, your team and your customers. Your suppliers have done the same. You may be experiencing less in-person visits from reps and suppliers.
I believe many of you would say that those relationships benefit from seeing them in your store—much like you when it comes to seeing your customers in your store. There is no substitute for selling and servicing in-person. So, until we can do this safely, we will all suffer the consequences of separation. Unless we find a way to replace this, we must look to innovative ways to regain this important socialization.
When Will We All Be Together Again?
KnowledgeFest Long Beach was a success this past February. Later this year, we should all look forward to seeing one another at an incredibly special event for our industry—KnowledgeFest Dallas. The move to later in the year was strategic. We felt the best chance to hold an event that we all could enjoy. Yes, I hear the news and review the numbers. Here’s what I can tell you: There are brilliant people creating new ways to allow us to come together at an event, in person, without great risk to our health. You will see these practices in action at KnowledgeFest Dallas.
Industry trade events are important because they provide needed education, networking and facetime with others including your suppliers. These events represent the best our industry has to offer, and just like reopening your store, they will have processes in place to allow all of us to enjoy connecting with each other in a way that can only be accomplished face-to-face. I hope to see you all very soon to celebrate our successes!
Read the latest issue of Mobile Electronics magazine [Click Here]
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North Andover, MA – August 3, 2020 – The Mobile Electronics Association (MEA) announced today the launch of KnowledgeFest Live. This in-person and digital event is designed to welcome back the mobile electronics industry in preparation for commerce in a post-pandemic era.
KnowledgeFest Live will be held in Dallas on December 4-6 and will include exhibitors and attendees from all previously scheduled KnowledgeFest events earlier in the year.
Although KnowledgeFest Live is more than four months away, appropriate actions have been taken to ensure a safe environment for attendees throughout all KnowledgeFest venues including the exhibit floor, education sessions and the host hotel (more timely information will be made available at
KnowledgeFest registered attendees include owners, managers, salespersons, and installers of specialty retailers (70% of attendees come from within a 300-mile radius). New this year, buyers from big-box retailers that usually attend larger trade shows will be in attendance through special invitation.
For retailers not able to attend the event in person, they will still be able to register for KnowledgeFest Live through a digital platform for education workshops, manufacture trainings, and can take a virtual tour of the exhibit floor. KnowledgeFest Live will be recognizing the Mobile Electronics Industry Award winners in a special in-person and on-line celebration event.
For more information and to register for KnowledgeFest, visit KnowledgeFest.org
About the Mobile Electronics Association
Mobile Electronics Association (MEA) is a trade association comprised of installing dealers and product vendors dedicated to serving the needs of the mobile electronics specialist industry. MEA owns and produces KnowledgeFest™, regional trade-only industry events that combine educational programming and vendor training with a trade show floor. MEA owns and publishes the monthly Mobile Electronics® magazine, which is the industry’s #1 resource, as well as other digital media, including websites and the industry’s e-newsletter Hotwire. MEA provides software and data-driven services to vendors and retailers. Learn more at mobile-electronics.com.
Media Contact:
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978-645-6434
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North Andover, MA – July 21, 2020 – KnowledgeFest™ Dallas, produced by the Mobile Electronics Association (MEA), will be held this Fall, September 25-27, 2020. The event will cover over 100,000 sq. ft. of exhibits, include more than 50 exhibitors representing more than 70 brands, and more than 100 hours of dealer education workshops and vendor sponsored training. Advance registration is open for the event and for the host hotel, Omni Dallas. The Dallas 2019 event had more than 2,000 in attendance. For 2020, MEA is anticipating strong participation albeit not record setting. The Dallas event will add a live element making a must attend either in person or online for education and training. For official information on the event please go to http://www.knowledgefest.org/.
“KnowledgeFest Dallas is our flagship event” said Chris Cook, President of MEA.“Those attending this year’s event should know that we put their health and safety at the top of our list. We have collected information regarding the best-known processes and procedures designed to provide attendees with a safe and successful education, training, and trade show experience. We look forward to providing all participants an event that allows them to come together and learn from one another.
In addition to the KnowledgeFest event, the highly anticipated Mobile Electronics® Industry Awards will be held Sunday evening September 27th to honor the best of the best for our Industry. The Awards recognize those in the Mobile Electronics industry that exemplify the highest standards of professionalism, business ethics, service, and expertise. More information about the Awards can be found at: https://meindustryawards.com/.
This year MEA was to launch a highly anticipated new event in Orlando. That event is now set to launch in the Summer of 2021. Next year, KnowledgeFest will be coast-to-coast with our new event in Orlando joining our other regional events in Long Beach, Indianapolis and Dallas.” KnowledgeFest is the only industry event devoted exclusively to the mobile specialist, the installing dealer.
For more information and to register for KnowledgeFest, visit KnowledgeFest.org
Upcoming KnowledgeFest events:
- September 25-27, 2020 - Dallas, TX
- February 12-14, 2021 - Long Beach, CA
- April 9-11, 2021 - Indianapolis, IN
- June 25-27, 2021 - Orlando, FL
About the Mobile Electronics Association
Mobile Electronics Association (MEA) is a trade association comprised of installing dealers and product vendors dedicated to serving the needs of the mobile electronics specialist industry. MEA owns and produces KnowledgeFest, regional trade-only industry events that combine educational programming and vendor training with a trade show floor. MEA owns and publishes the monthly Mobile Electronics® magazine, which is the industry’s #1 resource, as well as other digital media, including websites and the industry’s e-newsletter Hotwire. MEA provides software and data-driven services to vendors and retailers. Learn more at mobile-electronics.com.
Media Contact:
This email address is being protected from spambots. You need JavaScript enabled to view it.
978-645-6434
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Read the on the digital platform for Mobile Electronics magazine [Click Here]
Knowledge of your inventory can make or break your business.
This is one of the most feared questions when making the sale: “Do we have that in stock?” As retailers, I am reasonably sure you have had to walk or reschedule a much-needed sale at one time or another because we thought we had something only to find out it wasn’t there when we needed it most. Hopefully, you’ve found a system to mitigate this issue. If you’re still working through it, allow me to offer some ideas that might get you on your way to a healthy understanding of your inventory.
What’s in the barn?
Knowing what you have available to sell is paramount. Your customer expectation for product availability was made when you sold products and services. To find out post-sale that your product isn’t actually available leaves you in a compromised position. Now you must come up with a reasonable explanation. This situation happens all too frequently and, for the most part, it can be completely avoided.
Count it, then count it again
Counting your inventory is the first step to knowing what you have in stock. If you haven’t done so, now is the time to physically count your stock. Make sure you have a way to audit the results—especially for smaller items like kits, harnesses or adaptors.
How long will your stock last?
To calculate how long your stock will last, you must know your rate of sale for each item. There are a few ways to accomplish this task. The first is look at the past year of sales for each item and divide it by 52 weeks. This method is simple, but won’t account for seasonality. Should you desire to get a bit more accurate, do the same by quarter or by month. If you are using a point-of-sale software that tracks what you sell, this task should be fairly simple. Regardless of your method, once completed you will have a calculated rate of sale that can be used for deciding how much of each product you keep in the barn. Next, let’s review ways to set proper inventory levels to keep important stock on the shelf.
Setting levels
Knowing how many weeks of inventory to keep on hand can be a challenge. Knowing your rate of sale is an important step. You also need to have a good understanding of your supply-chain. You will have to account for lead-time, order quantity discounts as well as freight-cost reductions usually acquired from larger orders. Another important factor is availability. You should account for temporary product shortages. To deal with product shortage, you should assign an alternate product that could temporarily replace one that may be out of stock. This will help you manage your inventory levels going forward and put you in a better position to have what your customer needs when they need it. The number of weeks on hand is a calculation you will need to determine based on your business needs. Your purchasing power should also be considered.
Creating and managing your open to buy
The open to buy is a number set by you based on your ability to purchase inventory over a defined period. You can calculate it within your comfort zone by reviewing the rate of sales over a period and determining a dollar value of inventory required to achieve it. This doesn’t account for fluctuations and growth, but it provides an initial guideline. Next you should review your available cash and credit line to make sure you can afford to place the orders. Remember, just because you have favorable terms doesn’t mean you should order more. Each month a bill will be due and you need to ensure you have the revenue to pay it. You should also look at seasonality to account for higher and lower sales months, to keep you from having too much or little. Another consideration is separating it by category. Once the total is identified, you should review each category and set a number for each. Once completed, manage your inventory. Do regular counts. These are sometimes referred to as cycle counts. Assign someone to spot check troublesome categories to make sure you’re staying on top of your numbers.
Aging inventory
Looking for an easy way to increase your open to buy? Review your aging inventory. If it’s collecting dust, it’s probably costing you money. Have a sale, move it to eBay (brand permitting), or write it off. This will provide more spendable cash to support your inventory goals. And it cleans up the stockroom, as well.
Smooth sailing ahead
Regardless of how you complete the task, knowing your inventory and managing it better will lead to an improved experience for you, your business and your customer.
Read the latest issue of Mobile Electronics magazine [Click Here]
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02 Jul
ME-Mag Editors Forum: Want to Win at the Awards? You Will Be the Judge of That!
Thursday, 02 July 2020
Read the on the digital platform for Mobile Electronics magazine [Click Here]
Want to Win at the Awards? You Will Be the Judge of That!
Tell the industry your story and get ready to rise to the top.
When it comes to your Mobile Electronics Industry Awards, you can count on the process to be fair to everyone in our industry. We at the Mobile Electronics Association consider the integrity of the Industry Awards our highest priority. We know the industry counts on us to manage a fair process that accounts for all aspects of the program. To that end, each year we pick an esteemed panel of judges who review and cast their vote for each of the Top 12 categories. In addition, we have an audit team that oversees and reviews the voting process. These teams are made up of past winners, staff and an outside accounting firm which will audit the results.
The Mobile Electronics Industry Awards comprises a months-long process to recognize and honor those in the industry who best exemplify the professionalism, business ethics, service and expertise we want consumers to think of when they do business with us. Candidate companies and individuals submit video nominations and are narrowed to a list of finalists after a voting and selection process. In certain award categories, finalists submit materials which are then judged by a panel made up of past winners and other trusted industry experts. In other categories, final voting tallies determine the winners. All winners are announced at a special awards ceremony, held on the last day of the Dallas KnowledgeFest tradeshow and conference.
Here is a quick review of the voting rules: Votes for all industry awards are only open to industry participants. You may make one vote for each selection field. Voting takes place online through an approved submission platform. Emailed votes or votes placed in any other way will not be accepted. Each voter must provide contact information and employment information to determine eligibility. For contest accuracy, IP addresses for each vote are captured and compared to deter fraud. Voting by several members of a single location using a single computer/IP address is allowed.
The awards recognize Installer of the Year, Retailer of the Year, Sales Pro of the Year, Trusted Tech Award, Rookie of the Year, Retail Performance Awards and Customer’s Choice Award (this is the only award that allows your customers to vote). The top in each category are announced prior to Awards Night.
Other awards recognize industry professionals and companies: Distributor of the Year, Expeditor of the Year, Rep Firm of the Year, Representative of the Year and the Top Vendor Awards. These are voted upon by the entire industry and finalists are announced prior to Awards Night.
Let’s take a deeper look at the process for picking the Top 50 Installers, Retailers, Sales Professionals and other retailer awards. These are based on nominations from you and your peers. Your votes elevate the best of the best to the next level—the Top 12. Once the Top 12 votes are tallied, we announce the winners and move to the next part of the process. Many of the retailer awards have a phase two and phase three process. For the most part, both require the creation of video presentations which are judged using several criteria.
When it comes to the Retailer of the Year, several things need to be submitted. Remember, the video doesn’t need to be professionally produced, but it must provide the following information: The basics of how long you’ve been in business, number of locations, location type and number of employees. Also include the business philosophy or mission statement. What’s your sales performance over the past three years? What makes your business unique? What’s the greatest challenge you’ve overcome in the past year? Why should your location or chain be part of the Top 50 Retailers? Include a video walkthrough revealing the customer experience from parking lot to point-of-sale and employee areas. Add still shots of any required documents.
The Installer of the Year requires video as well and must answer the following: Name, years of experience and number of years at your current location. What’s your installation specialty, and how do you describe your philosophy as an installer? Name some installation professionals who’ve had influence on you and your career. How do your co-workers describe you? What’s the biggest challenge (personal or professional) you have overcome in the past year? What do you want customers to remember about the installation aspect of your service, and why should you be part of the Top 50 Installers? How does your performance influence team and store culture? Provide a video walkthrough of your work area and tools including still shots of work samples.
There’s a lot that goes into a successful awards process, and it’s worth it. I have spoken with many industry professionals who have submitted and been named Top 50, Top 12 and overall winners. The common theme of the conversation is how it made them better at what they do. I encourage you to take the time to review the awards website. Visit meindustryawards.com. Get started on the next level of your career. You will be glad you did! See you on Awards Night!
Read the latest issue of Mobile Electronics magazine [Click Here]
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