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Watsco recently reported record fourth-quarter sales of $914 million with full-year sales in 2016 increasing almost 3 percent to $4.22 billion.
A big way the Miami-based wholesaler increased sales through an aggressive online plan that incorporates four e-commerce sites and several mobile apps to sell HVAC equipment and supplies for brands including Carrier, Rheem and Tempstar in the United States and foreign markets.
“Watsco’s goals with these technology programs are to further strengthen its leadership position, accelerate sales and profit growth, increase the speed, convenience and efficiency in serving customers, and extend Watsco’s reach into new geographies and sales channels,” Nahmad said in a statement announcing the company’s financial results.
Nahmad added that he expects these digital technology applications to continue priming Watsco’s growth in years to come as “a modern, data-based company.”
In 2016, Watsco noted the following increases in customer activity on its e-commerce sites and mobile apps:
In addition, Watsco increased the number of SKUs it makes available online to 500,000 last year, up 71 percent from 2015. The combination of a larger number of online SKUs and customers’ increased use of apps and e-commerce sites has resulted in more line items per online order, according to the company.
More details here.
Source: Miami Herald and Seeking Alpha.