Buying group Euronics has decided to postpone its annual trade show next year.
The Euronics Showcase, which usually takes place at the NEC in Birmingham in April, will return in 2018.
Speaking at this year’s CIH [Euronics] suppliers’ lunch at The Dorchester hotel in London, chairman Robin Millwood (pictured), said: “As a company, we really appreciate the support we have received for the showcase every year.
“With the uncertainty in the market, along with the recent raft of price rises – with more to come – and the obvious increase in costs for everyone, the board of directors has decided to postpone the 2017 showcase for one year.
“We realised that all suppliers would be looking at budgets and where some trimming could be had, so we have taken this decision to help you all for one year. But we will be back in 2018 with a bigger and better show. We will obviously still expect all the normal offers, display plans and maybe a bit more!”
Mr Millwood also announced that 2017 would see a multimillion-pound investment in Euronics, including the expansion of the group’s distribution network with the addition of a Northern hub.
With its logistics partners Panther and Ken White Distribution, Euronics will be able to offer three deliveries a week to all of its members. This will also speed up the group’s online ordering systems and offering, said Mr Millwood.
Euronics will also be upgrading its SAP software system and its business-to-business and business-to-consumer capabilities, which will enable the group to streamline many parts of the system.
Mr Millwood said this would give Euronics the right platform to be “one of the best online offerings in the UK”.
He added: “We have often been challenged by our own members, where they have been put off trading online by suppliers who have threatened to reduce their terms, but then quite openly supply many other retailers, of whom many are online-only and have no showroom. Now is the time for us to fight back and I fully expect to receive your support for our plans.”
Commenting on the Euronics business, Mr Millwood said: “In 2016, we are currently tracking at six per cent above last year’s turnover and, with fewer members, this is some achievement. But even more pleasing is that, within this figure, Agency sales are ahead by over seven per cent and now account for over 50 per cent of our total business.
“2017 will be an even more challenging year and the sooner we get the stability back, once Brexit is sorted, the better it will become. Providing we all work together, we will come out of this stronger.
“Price rises are inevitable, as our products have been too cheap for too long, but within these rises, everybody needs to make a workable margin to survive.”
Two awards were given out at this year’s CIH suppliers’ lunch – The Supporter of the Independent for 2016, which was won by Hoover, and The Euronics Supplier of the Year, which was picked up by Blomberg.