Indianapolis -- Do it Best Corp. members appear to be buying into the idea of a recovery. At the co-op’s October Market here, which runs through Oct. 21, sales of Sneak Peak merchandise amounted to $8.8 million in 90 minutes, a new record.
“The October market always provides our members a wealth of opportunities to learn, connect and plan for the year ahead,” said Do it Best Corp. President and CEO Bob Taylor.
Another highlight of the event is expected to be the Sunday night shareholders meeting, during which rebate checks will be handed out to member. Total member rebates for the year totaled $116.4 million, an increase over 2012 and marking the 10th consecutive year they’ve exceeded $100 million.
This year’s rebate total included five Do it Best Corp. members who each received rebates of more than $1 million.
On Friday afternoon, dealers were presented with a Merchandising Market Preview, revealing product highlights. Among them were new skus in the farm and ranch and pet area, including John Deere apparel. Also introduced were tools and planograms to boost light bulb sales, and the introduction of GE Appliances and AGA Marvel appliances to the Do it Best mix, to name a few.
At the market preview, VP of Merchandising Steve Markley described a new emphasis at the market on Do it Best’s home Impressions home décor brand, which is being organized at the market in a single area for full effect. “We think many of you will be surprised, “ Markley said. “We think this is a brand that is undervalued.”
Member registrations and store representation are both up compared to last year, according to event organizers. Pre-registration for the fall market’s nearly 30 Education Day seminars, held on Oct. 18, was also up over last year’s numbers.