Industry Stats, Business Development Focus of Azione Conference Day Two
The second day of buying group Azione Unlimited's Spring Soiree conference—March 18—in Nashville, Tenn., found the group's dealer and vendor members discussing the current state of the CE industry, as well as ways they could improve how they conduct their businesses.
The day featured return addresses from speakers who'd given presentations on the opening day of the conference. In many cases their second presentation expanded upon the themes of their initial speeches.
A Positive Prognosis
CEDIA Senior Director of Learning and Emerging Technologies Dave Pedigo kicked off day two with a keynote address on the “State of the Industry” that provided a very positive prognosis for the industry's present and future economic vitality.
Pedigo presented research based on a recent survey that polled 723 industry professionals. (Because of the relatively high number of respondents, he stated that the poll had very little margin of error.)
“How is our industry doing?,” Pedigo asked. “I am optimistic but I'm also pragmatic.
[But] the industry is really, really strong. … We are up 37.8 percent in total gross revenue over the last two years. That is a fantastic number.
“The industry is up in almost every category,” he continued. “We have more projects, and each of these projects is brining in higher dollars.” He cited strengths in the following categories:
• Number of projects, which has seen a 29 percent increase in the past two years
• New home/single family installs, which bumped from 31 to 36 percent from 2012 to 2014
• Home theater, which saw the figures for average revenue per project and number of projects both jump by 20 percent from 2013 to 2014
• High-end ($5K to $10K for audio, $10K to $20K for video) and ultra high-end ($10K and up for audio, $20K and up for video) both saw small but significant increases between 2011 and 2013, with high-end going up 1 percent for both audio and video, and ultra high-end jumping 3 percent for audio and 2 percent for video.
• Flat panel sales, which Pedigo expects will see a 14-percent bump from 2014 to 2015, in part due to Ultra HD displays
• Internet-connected wireless audio systems, which saw a 10-percent increase from 2012 to 2014