Sound & Premium TV Business Booming In Victoria
The sound business is booming in Victoria as residents buy up sound systems while upgrading to Ultra High Definition TV’s.
According to Paul Riachi the owner of two specialist Hi Fi and home entertainment stores Rio Sound & Vision in Brighton and Preston, Victoria as well as a successful online store Friday was “His biggest day ever”.
“We are running out of stock. Consumers are buying Loewe TV’s Canton sound systems and price is not an issue. What they are concerned about is whether the product is made by a Chinese Company. Victorians are blaming Premier Dan Andrews and the Chinese for the original and latest outbreak of COVID-19 in Victoria”.
The story is the same with brands such as Yamaha, Bowers & Wilkins, Klipsch, Denon and Marantz with all these brands reporting record sales in the first half of 2020 over the same period in 2019.
“July and August are always slow months but not this year. Victorians are fed up of hibernation and isolation so they are upgrading their entertainment equipment.
The fact that we have a second wave could drive sales further with online sales booming” said Riachi who has recently struck a deal to sell Loewe TV’s in several premier The Good Guys stores.
Currently the Indi Group who are the owners of Rio Sound & Vision as well as the distributors of Loewe TV’s are working on new instore displays for TGG stores as well as for a new Loewe audio system that according to retailers who have seen the new sound gear “Is up there with Bang & Olufsen” when it comes to sound quality and European look.