H.H. Gregg Appliances, Inc. | Company Profile, Marketing Contacts, Media Spend, Brands
Headquartered in Indianapolis, IN, H.H. Gregg Appliances, Inc. sells home appliances and consumer electronics throughout the midwest and southeast regions of the United States.
|Main Telephone||(317) 848-8710|
|Main Fax||(317) 848-8723|
H.H. Gregg Appliances, Inc. ContactsContacts (5/11)
|Robert R.||President & Chief Executive Officer||IN|
Sample of Associated Brands
|Jeffrey M.||Senior Vice President, Appliances||IN|
|Chris S.||Senior Vice President, Marketing||IN|
|Matt P.||Senior Vice President, Merchandising||IN|
|Diane P.||Vice President, eCommerce||IN|
|H.H. Gregg Appliances, Inc.||********|
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Close Watch Update: Hhgregg to shift from print to digital in fiscal 2016
Update (5/15): In a move that should come as no surprise given the company’s recent decisions and struggles (more below), CEO Dennis May said in the Q3 earnings call that the company would be shifting spend from print into digital in fiscal 2016, which began in April. All of this is an effort to “reshape and reduce” marketing spend and to get the highest ROI possible on dollars spent. Specifically, this means “significantly” reducing the number of Sunday inserts and Thursday paper advertisements over the next fiscal year.
Note that while the company will be reducing overall marketing spend, they will be deploying dollars to “refined” TV and digital ads. The overall goal is to reduce marketing and operating expenses by $50 million ($20 million will come just from marketing/advertising), so those with very high ROI ideas should reach out now. Remember that hhgregg recently eliminated the role of CMO, but will continue reinvesting savings in more effective media channels (they have been “too traditional,” according to May) and in growing its website and e-Commerce business.
Because of these plans, hhgregg’s score bumps up slightly, from 50 to 54, leaving it in “Close Watch” territory.
Originally published on 3/25/15
Subject: broadcast, print, radio, digital, Hispanic
Company: H.H. Gregg Appliances, seller of home and consumer electronics in 228 stores throughout the Northeast, Midwest and Southeast
Opportunity: Hhgregg announced that CMO Julie Lyle has been terminated and that her position will be eliminated from the company. In an SEC filing, the company indicated that Lyle's duties have been “absorbed” by other officers of the company, but no other details were outlined. Lyle joined hhgregg in Dec. 2013 and helped launch a go-to-market strategy that included store remodels, branded shops and a fresh marketing campaign that emphasized post-sale satisfaction (learn more about hhgregg's rebrand efforts here).
Hhgregg is now launching a new turnaround plan, which includes bringing in Keith Zimmerman as chief merchandising officer and a retail consultancy to help “rationalize” its marketing spend. Advertising spend for hhgregg has increased 48% over the past five years, but disappointingly, sales have only increased 4.5% (according to retail analyst David Strasser). Those with high ROI ideas and deep retail experience should reach out now as the company embarks on yet another plan to spark increased growth. Hhgregg just hired a new agency last summer, so it's hard to say if they will stick around for the transformation, or if hhgregg will clean house and try brand new strategies – you should engage now, however, to get on the company's radar.
Personnel Changes: In Feb. 2015, SVP of marketing Jeff Pearson was promoted to SVP of strategy and transformation and will be responsible for developing long- and short-term transformation opportunities for the company. He will focus on marketing, store operations and hhgregg.com.
Competitors: Like most brick-and-mortar retailers, hhgregg is losing ground to e-tailers. But it also faces competition from Best Buy, Walmart, Home Depot, Lowe's and Fry's Electronics, to name a few. Also, companies such as Rent-a-Center give consumers the option to rent, instead of committing to a purchase, which also cuts into hhgregg's sales.
Media Spend: According to Kantar Media, hhgregg spent $73.6 million on measured media last year – a 7.7% decline from 2013. Over half of this ($43.2 million) was allocated to broadcast ads, while $20.3 million went to print ads (newspapers). Radio and digital spend totaled about $4 million each.
According to Moat, 50% of hhgregg's 2014 standard display ads were purchased directly from the publisher. Top ad destinations included: usanetwork.com, examiner.com, hgtv.com and univision.com (In 2014, hhgregg spent $1.3 million on Hispanic media).
Note that hhgregg has spent $1.7 million on national TV ads so far this year. Compare this with the same period last year, when the company spent no money on national TV ads.
Agency Relationships: In July 2014, hhgregg renamed Omnicom's here.
H.H. Gregg Appliances, Inc.
4151 East 96th Street
Indianapolis, IN 46240
Senior Vice President, Transformation & Strategy