Monday, November 10, 2008

In recession, focus on product quality, durability

Lloyd Ivey, founder and CEO of Mitek and the former chairman of the Consumer Electronics Association, suggests we sell product quality and durability during economic downturns.

He was one of the 6 CE industry insiders I interviewed during the CEA Industry Forum.

"We can convince people the money they have should be spent on better things," Ivey says. "During the depression, people didn't buy junk. They bought things they could depend on."

He points to the success of Frigidaire freezers during that period.

I found this 1930s Frigidaire on sale for $600. Apparently it still works.

From the listing:
This auction item is for a 1930's vintage GE Frigidaire Refrigerator?Freezer. When this refrigerator was picked up-it was still operating. We have had in cooling drinks in our salvage warehouse this summer. Would be perfect for keeping all sorts of beverages cold!!! This refrigerator/freezer measures 30" wide by 23" deep and stands 58" tall and has a very space age "Jetson's" type handle. The freezer compartment also has a unique handle. Refrigerator is in exceptional condition for its age!! The interior of the door has a scratch and some of the plastic molding on the interior is slightly cracked.
Talk about a good investment during the depression!

Other insiders interviewed in my story: Ian Hendler, Leviton; William Chamberlain, Cobra; Frank DeMartin, Mitsubishi; Richard Stoerger, ADA; Cat Fowler, Elan

1 comment:

Anonymous said...

I loved ur blogs and wat information that u issued is really very usefull for us .. thanks