Appliances and electronics retailer, hhgregg Inc. HGG, has announced it will sell Vizio’s competitively priced TVs, home theatre displays and soundbars at all 220 retail stores and at hhgregg.com from Oct 21. The Indianapolis, IN-based retailer is gearing up for the holiday season by stacking up on a wide range of assortments to provide an enriching shopping experience to its customers.
The company said the assortment includes smart TVs and displays from 24 to 70 inches, 4K ultra high definition models and soundbars. Further, it has confirmed that additional models will be available at its official website during theholiday season.
Ahead of the holiday season, hhgregg plans to tap into the shopping frenzy by offering customers the popular Vizio brand. Vizio products are meant to fulfill the needs of customers, whether they want to shop for their own home or for a gifting purpose.
Founded by computer display wiz William Wang, Vizio is a leading television brand in the U.S. It entered the U.S. market 13 years ago and is known for its reasonable price range, specialized plasma displays and DVD players. Chinese company LeEco announced that it will takeover Vizio in Jul 2016 for $2 billion cash. The Vizio televisions have gained popularity since its entry into the U.S. market because of its high quality display and reasonable price.
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The introduction of Vizio range of products is a part of hhgregg’s sales bolstering initiatives. The retailer is focused on innovations like 4K ultra high definition, curve TVs and OLED TVs to boost category sales of consumer electronics. It will continue to utilize its financing options to drive sales in the consumer electronics business.
Other retailers are also including Vizio television series in their stocks for the upcoming holiday season. Per Wall Street, Wal-Mart Stores Inc.’s WMT Canadian subsidiary Wal-Mart Canada has also introduced range of Vizio D-Series models in its stores and official website for the holiday season.
The holiday season is the period when retailers are well on their toes, flooding the markets with offers and promotions. Retailers like hhgregg, Best Buy Inc. BBY, Macy’s Inc. M intend to lure customers with early-hour store openings, huge discounts, promotional strategies along with free shipping on online purchases. Since the season accounts for a sizeable chunk of yearly revenues and profits, retailers grab every opportunity to drive footfall.
hhgregg carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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