Some Conn’s Stores ‘Testing’ Smart Home Products in Expanded CE Offering
Conn’s, in a new consumer electronics offering, began rolling out new videogaming “bundles” across its “store base” in Q1 that feature PlayStation, Xbox and Nintendo consoles, said CEO Norm Miller on a Thursday earnings call. “Gaming offers customers a compelling…
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product group to add as an attached purchase and helps us capitalize on our credit utilization strategies.” The “sophisticated credit platform” and “enhanced underwriting team” that Conn’s put in place the past two years “makes us confident in our capabilities to manage loss rates that have been historically associated with gaming products,” he said. Customers also “can choose to finance gaming bundles through our third-party financing options,” he said. Initial results are “encouraging” from both a “retail and credit perspective,” he said. Some Conn’s stores also are “testing” robotic vacuums and smart home products as part of an expanded consumer tech offering, said Miller. “If successful, we will expand these products across our store base throughout the current fiscal year.”