Rebates, Milestones, New Products Highlight Do it Best October Market
A major company milestone, historic leadership transition, exclusive product launches and another year of consistently high member rebates are combining to create a memorable Do it Best October Market, held October 9-12 at the Indiana Convention Center in Indianapolis.
Two significant events are highlighted at this October market. First, the company is celebrating its 70th anniversary in 2015 and will officially mark the occasion with a special event Saturday, October 10, at the Indiana State Museum for members, employees and vendors. Second, this market marks Bob Taylor’s last as president and CEO of Do it Best Corp.; he announced his retirement, effective January 4, 2016, earlier this summer. Dan Starr, who currently serves as Executive Vice President and COO, will succeed Taylor as only the fifth leader of the company in its 70-year history.
“While this is a bittersweet market for me, it’s again one full of opportunities for our members to grow their businesses and achieve their dreams,” Taylor said. “Between our 70th anniversary celebrations, new product launches, enhanced savings opportunities and distributing another year of consistently high member rebates, my last market as CEO may be the best one yet.”
New products, enhanced savings
Do it Best Corp. is unveiling a significant expansion to its exclusive Channellock product line this week with the introduction of a range of Channellock-branded ratchets, sockets and wrenches. The new professional grade category offers more than 600 updated and new SKUs to Do it Best Corp. members, exclusively produced under the Channellock brand, with planograms from 4-16 feet.
Additionally, there are increased savings opportunities for members, especially during the very popular Friday night Sneak Peek buying event. Members then use these high-quality, high-margin items to drive traffic for Black Friday sales and other special events throughout the year. Members also got an exclusive look at the hottest and most popular outdoor power, cooking and lifestyle products in 2016 at the Power Preview event at Victory Field as well as a special 2,000 square foot display of popular products featured on the TV show Shark Tank.
As it does each market, Do it Best Corp. equips its members with a wealth of knowledge through more than 30 Education Day seminars covering a variety of relevant topics. New for this market are enhanced training opportunities with two-day sessions for operational topics and product categories like plumbing/electrical, store marketing and merchandising, and successful selling strategies.
Robust member rebates
Taylor will use his final address as CEO at Sunday’s Shareholders’ Meeting to highlight the company’s dynamic fiscal year. Member rebates for the year totaled $116.4 million, marking the 12th consecutive year they’ve exceeded $100 million. Again this year, five Do it Best members will be presented with rebates surpassing $1 million each, with Scott Parker of Parker Do it Best Lumber receiving a rebate just over $2 million.
“No one in the industry matches our supply-chain excellence and lowest cost of operations,” 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.”
Source: Do it Best Corp.