Strategy in TECH...
By now many of us are deep in our planning for 2022. What factors should you consider as you think about the business conditions you face next year? Will 2022 be more of the same as 2021? Or will trends be more negative…or more positive?
In spite of the fact that the economy is continuing to grow as it powers away from the days of COVID shutdowns, a preliminary November reading of consumer sentiment shows a dramatic drop to a 10-year low, as consumers fret about growing inflation. While economists have long warned that transitory inflation would be a temporary part of our overall economic recovery, consumers are clearly concerned that this inflation may be hanging around for a while and it is already crimping their lifestyle.
Crestron Electronics, one of the industry’s most powerful home automation brands, announced today that it has launched a new line of battery-powered custom shades. While Crestron has been in the shading business for quite some time now, this new line of battery-powered shades – to my mind at least – seems perfectly suited as a complement to their burgeoning Crestron Home residential automation ecosystem.
Snap One Holdings Corp. (NASDAQ: SNPO) announced the results for its fiscal 2021 third quarter last week and said that thanks in part to an August 2021 price increase and continued expansion of its dealer base, the company booked a substantial revenue increase to $260.7 million, or 15% higher than the same quarter the year before. However, the company additionally reported a net loss of -$21.5 million, way below the net income of $1.4 million in the quarter last year, due to a significant increase in SG&A expenses.
Residential Tech Today Editor Jeremy Glowacki interviewed Ted Green – yeah, that’s me – for their podcast which is available in both audio-only or audio/video formats. What a weird experience it was for me! I’m used to being the questioner…not the questioned. Especially when you consider the fact that Jeremy and I are friends and talk frequently about everything from the business to family and friends – it was strange when he invited me to be on the podcast and shifted into professional editor mode.
And, he asked real questions – such as why Strata-gee can sometimes be controversial and how I came to this role.
Snap One announced this week that it has opened another “Partner Store” – a locally based warehouse location – that carries its products as well as other brands and offers support and training for area integrators. This new location opened in Hollywood, Florida, and – interestingly – is being operated by their Allnet branch.
Custom Electronic Design & Installation Association (CEDIA) announced today that it has appointed Amanda Beckner as its new Vice President of Education and Training. Beckner replaces the recently departed Samantha Ventura and is said to bring two decades of experience to the role. Most notably, Beckner was VP of Learning for AVIXA, the commercial integrator trade group.
Emerald Holding, Inc. [NYSE:EEX] (Emerald), formerly Emerald Expositions and owner of the CEDIA Expo and CE Pro, announced this week that, thanks to the restart of live events in the third quarter of fiscal 2021, they were able to see a substantial reduction in their net losses on a significant revenue gain as compared to the same quarter in 2020 – the year of COVID shutdowns. While the company is still battling its event cancellation insurance providers in a California court for reimbursement for past canceled and impacted events, they say that they see the road to recovery ahead.
Major industry player Sound United is on the cusp of launching its first-ever virtual event called, appropriately enough, “Inside Sound United” (ISU). Coming November 9-12, 2021 to a computer near you, this highly immersive 4-day virtual event will be chock full of useful content and allow integrators to experience a side of the company not usually seen.
In new research from a think tank based in Bentonville, AR called Heartland Forward, we learn that innovation in the U.S. is largely happening on the east and west coasts of the country – not in America’s heartland where entrepreneurship is lagging. And that they hope to change by influencing state policymakers to go on the offensive to launch new entrepreneurial initiatives.
