*If you read the title and have been in a store you may not be surprised by this, Dick Smiths massive sale was a joke, 70% off random rubbish that still costs less on eBay. Basically a case study of how to not do a massive sale.
Even Dick Smith is not surprised about how badly the shares in Dick Smith have fallen, it’s not hard to imagine that the tech, gadget, white wear, industry has been taken over by giants like JB HI-FI, Good Guys, and Harvey Norman since they are everywhere including TV and radio, when is the last time you saw Dick Smith on the TV?. Dick Smith is the last bastion of classic small tech stores while shouting their motto of ‘talk to the tech experts’ they haven’t kept up with the tech itself.
Unfortunately, their stock choice is also bare and prices are always higher, as a consumer I have yet to think ‘hey I let’s check Dick Smith for prices’, because I know that they are always high. The only time I have attended a Dick Smith store was when my partner was shopping and I wanted to waste some time browsing. Though I have to admit I have looked at their website when looking for wall Ethernet plugs, ended up going to Altronics.
So is this the end of Dick Smith, is it time to shut shop and sit down on the couch and reminisce about the good old days of Dick Smith selling kids electronic DIY kits? I had one, I loved it. It could be time for Dick Smith to turn around and make a change, become a retailer that’s worth visiting, be competitive, they already have a memorable name so they have a good basis to start on.
This week’s woes, however, would have been easily managed with good stock control and smart management, a simple report months ago would have let management know about the potential sales vs stock levels. Any company needs access to their data quickly and efficiently, with concise and clear data presentations for all management to be able to understand. Getting the most expensive and big system is not the answer, it is how well it is implemented and customized to your business. Because even a smaller system can do everything you need and more if it put in correctly.
If you feel that you are not getting the right information from your system or if you feel your system is not efficient and not capturing the right information then give AlphaBiz Solutions a call and don’t get caught out like Dick Smith.