Focus on Growth Drives Successful Do it Best October Market℠
October 18, 2014, FORT WAYNE, INDIANA – A continued emphasis on new and emerging categories, increased opportunities for significant product savings and another year of industry-leading member rebates all drove another successful Do it Best October Market℠, held October 17-20 at the Indiana Convention Center in Indianapolis.
In addition to its wide array of vendor displays and extensive product offerings on the market floor, including a large number of new vendors, Do it Best Corp. also highlighted the Farm & Ranch category with a dedicated 5,000-square-foot exhibit, where members could review a variety of fully merchandised displays. Farm & Ranch continues to be a growing product segment for many Do it Best Corp. members. The co-op also featured a number of innovations in the home automation category in its New Products area.
A strong increase in attendance helped drive both greater volume and bigger savings for members, especially during the very popular Sneak Peek buying event. Sales for this market’s Sneak Peek totaled $8.9 million with members saving as much as 50% on featured products. Do it Best members will use these high-margin items to drive traffic for Black Friday sales and other special events throughout the year. There was also strong interest in the PriceBusters program, which enables members to take advantage of great deals from select vendors each month throughout the year. The October PriceBusters were highlighted at the market with 6 $2,500 store credits given as prizes.
This year’s October market was also the first where Do it Best Corp. members could redeem their Do it Dollars earned through the RSC/VIP! program, which the co-op launched at the start of the fiscal year. Through the program, qualifying members earned a 3% incentive on their total increase in warehouse purchases over the previous fiscal year. That reward comes in the form of Do it Dollars, which members can redeem and invest in a number of proven, growth-oriented programs and services from Do it Best Corp., including Signature™ Store Design, advertising and even market travel expenses.
“Our #1 goal is to help our members grow and achieve their dreams. Every program, every product, every solution we present at this market is focused on helping them achieve that objective,” said Do it Best Corp. President and CEO Bob Taylor. “Our members recognize our markets for the invaluable growth opportunities they provide their businesses each year. From the tremendous savings opportunities, the wide array of free, world-class training sessions, as well as the distribution of our industry-leading rebates, our members know the market is a unique and important time to focus on growth into the future.”
Member rebates for the year totaled $115.4 million, marking the 11th consecutive year they’ve exceeded $100 million. This year’s distribution included five Do it Best Corp. members who each received rebates exceeding $1 million – the second consecutive year five members have reached that rebate milestone.
“No one in the industry matches our supply-chain excellence and lowest cost of operations, while maintaining zero long-term debt,” Taylor added. “We are committed to being effective stewards of our members’ investment in their co-op. And we achieve that by being the most efficient co-op in the industry, which has enabled us to deliver more than $1 billion in rebates to our members in just the last decade.”
News release provided by Do It Best Corp.