DIY Boom Boosts The Good Guys
The retailer’s sales has exceeded $2 billion as consumer confidence rises.
“We have seen an increase in sales as a result of the recent DIY boom,” chairman Andrew Muir said in an interview with The Deal.
The tech retailer is a high profile sponsor of ‘The Block’ reality TV show, kitting the contestants houses out with glossy appliances, and says the show has sparked a DIY boom.
He also says stores are outperforming the “publicly listed competition,” and leading on price competition.
“The Good Guys continues to grow, both across its store network and online, by maintaining a high level of service, lowest prices and a wide product range which has seen it outperform its publicly listed competition,” he said.
For the first time, the company has entered the top 10 listing of Australian private companies in the 2014 IBISWorld list of top 500 private companies, to be published in The Australian supplement The Deal magazine, this week.
Last week, Muir also got more good news – The Good Guys was voted the country’s top tech retailer in all categories including customer service, value for money and product range by consumers in a Canstar survey, outrunning rivals JB Hi-Fi, Dick Smith and Harvey Norman.
It is in the top 20 most visited retail sites in Australia, Muir says.
But he admits “there is still work to do,” in order to encourage consumers to spend.
Despite speculation of a buy out, The Good Guys Chairman insists staying privately owned allows it to maintain the family owned company’s integrity and values and focus on its “customer-centric approach to retail.”
Image credit: Fairfax Media