iPhone Comes to hhgregg |
While another retailer carrying the iPhone is not in itself breaking news, it is significant for hhgregg.
Why significant? It's all about driving traffic. According to hhgregg management comments, customers who buy wireless and other home office products do so more frequently than other product categories like Appliances (hhgregg's strength) and Home Theater. Given that appliance customers buy every 8 years, having products like the iPhone will get that customer back into the store more often.
As to new customers, addition of the iPhone can attract new customers who may not have considered hhgregg in the past.
As to results, hhgregg reported a 91% comp increase in the Home Office category for the latest quarter results ending December 31st.