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Acoustic Energy celebrates 30 years with return to UK ownership A
coustic Energy is returning to UK ownership, 30 years to the
month from its formation in 1987, the company has announced. With three decades of British audio heritage and a large portfolio of new products ready to roll out this year, AE’s management team has launched a successful bid to buy the company from its Malaysian parent company, Formosa Prosonic Group. AE will continue to operate and manufacture from its Cotswolds HQ, together with dedicated manufacturing partners overseas to produce AE’s range of loudspeakers, the company says. Senior management, internal contacts and sales teams remain unchanged and all existing international distribution agreements will also remain in place, enabling AE and its trading partners across the globe to continue to build on the brand’s recent success. Director Mat Spandl comments: “Becoming an independently
owned British loudspeaker company once again is a very exciting development in AE’s history. “This year our new active version of the legendary AE1 became an
overnight ‘sell-out success’ following the launch at the recent Bristol Show. The new AE1 is an integral part of an ambitious roadmap for 2017 including more new products rolling into production right now. With the UK economy remaining strong and exchange rates bolstering our international sales, the timing is perfect to capitalise on the renewed growth in the global audio industry and achieve further success for AE over the next 30 years.” The business of Acoustic Energy Limited will be registered under Acoustic Energy Loudspeakers Limited, effective from April 3 2017.
Baby boomers ‘just as tech hungry as millennials’ when it comes to retail experiences
B
aby boomers are just as eager to see next generation technology like mixed reality and artificial intelligence being
adopted by retailers as their millennial counterparts, according to a new retail report commissioned by Manchester based DigitalBridge, with nearly three quarters saying they would use the platforms if they were offered. The figures throw a dampener on the stereotype of only the younger generation being interested in tech advances, revealing that consumers of all ages are eagerly waiting for businesses to take better advantage of the technology available to them. This is particularly true when it comes to visualisation technology that allows users to preview products at home before committing to purchases, with 73% of consumers aged 18-34 saying they would be more likely to shop with a retailer that offered this service, exactly the same as the proportion of older shoppers. More significantly for retailers, of those consumers who said
they expected to be able to use this technology either in-store or online, more than half (55%) said they would be more likely to buy something after previewing it.
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www.innovativeelectricalretailing.co.uk
Financial management ‘biggest concern’ for many SME retailers, study reveals
O
ver a quarter of retailers (27%) admit that day to day financial
management is one of their biggest concerns, according to a recent study commissioned by soſtware developer Reckon. The study, which spoke to more than 1,000 small business leaders in the sector, has revealed that financial management is keeping them up at night. One fifth admit they struggle to keep on top of the business’s finances. The concerns aren’t only expressed by younger businesses; while a
third (30%) of those in the first year of trading agree that it is one of their biggest worries, a similar proportion (29%) of those with a turnover of more than £10 million have the same worry. With the fiscal year coming to an end, the research has highlighted the need for more financial education and support for the UK’s small businesses, including those in the retail sector. One in 10 of those surveyed agree that there is not enough financial planning and advice available for small businesses and startups. Reckon commercial director Mark Woolley said: “It is worrying that so
many businesses are concerned about financial management, as it is an issue that can impact their suppliers, partners and our economy. With the potential threat of increased business rates and late payments, SMEs need as much support as possible to understand how to keep on top of changes and keep business moving. Financial management is one of the keys to success for any business, regardless of size, affecting all areas of the company. History has shown that companies with high sales revenue but poor financial management can still fail. “Whilst there are some resources out there already, there is clearly still
a gap to be filled and it needs to be filled quickly. We’d urge any new business to seek good advice on the easiest and quickest ways to take control and stay on top of day-to-day finances.”
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DigitalBridge chief executive David Levine commented: “There has been a long held belief in the retail sector that increasing the use of technology was only beneficial in attracting younger customers. “These findings show that this isn’t the case and that businesses
may have underestimated the demand for a better shopping experience using the latest technology. Older shoppers are just as engaged in the technological revolution of retail as their younger compatriots and businesses could be missing a huge opportunity by not capitalising on this sooner rather than later.”
April 2017
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