New omnichannel distribution to improve margins and streamline the B2C sales process
Fort Lauderdale, Fla., May 02, 2022 (GLOBE NEWSWIRE) — The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (OTCQX: SMDM) – the global leader in consumer karaoke products today announced ‘today launched a new e-commerce site focused on an omnichannel marketing approach to grow its direct-to-consumer business.
Following the viral success of Singing Machine’s TikTok with its Carpool Karaoke™ microphone, Singing Machine has launched a new e-commerce site, http://www.singingmachine.com, to reflect the company’s new strategic initiative to market and to sell its products directly to consumers.
The Carpool Karaoke™ Microphone has enjoyed wide product adoption, including hundreds of social media posts that have gone viral, generating over 250 million views. Due to this extreme increase in organic influencer promotion, the Carpool Karaoke™ Microphone has achieved significant direct-to-consumer sales. Since then, the company has been preparing an overhaul of its B2C capabilities, including its e-commerce platform, and all associated fulfillment capabilities to directly support a more robust omnichannel approach.
This new omnichannel approach directly complements the company’s longstanding traditional retail marketing strategy. As the market leader in home karaoke, Singing Machine has established long-standing partnerships with most major retailers in North America such as Amazon, Costco, Sam’s Club, Target and Walmart and is represented in over 25 000 physical locations in the United States. generating more than $50 million per year in gross sales in 2021.
Gary Atkinson, CEO, said, “Our products are fun and bring joy to over one million homes every year. There’s no better way to show that excitement than through genuine user-generated content on social media. One of Singing Machine’s core strengths has always been retail-focused distribution. This gives us a significant competitive advantage through our best retail partnerships. However, as we have seen in our phenomenal success of TikTok, we are aware that there are a growing number of consumers whose shopping habits are exclusively online. These consumers may never set foot in a physical store and they demand alternative outlets when our products pique their interest. »
“Part of our ever-evolving sales strategy is to drive social media-centric viral interest in our products, primarily through influencer and brand ambassador activations. This naturally leads to exciting new B2C opportunities for our team. Our goal is to capture the attention of these internet customers wherever they shop, which primarily includes social media platforms and internet search. Our new e-commerce website and associated B2C marketing strategies are designed specifically to help us increase sales conversion and increase our profit margins within this sales channel,” Atkinson concluded.
About the singing machine
Singing Machine® is the leading supplier of karaoke products to consumers around the world. The company offers the widest range of home and car karaoke entertainment products in the industry, allowing consumers to find a machine that suits their needs and skill level. The company’s products are sold in more than 25,000 locations worldwide, including well-known retailers such as Amazon, Costco, Sam’s Club, Target and Walmart. As the most recognized karaoke brand, Singing Machine products incorporate the latest technology and provide access to over 100,000 songs to stream through its mobile app and select WiFi-enabled products. To learn more, visit www.singingmachine.com.
Investor Relations Contact: Brendan Hopkins (407) 645-5295 [email protected]ine.com/investors
Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. made by management and include, but are not limited to, statements with respect to our financial statements for the year ended 31 March 2021. You should review our risk factors in our filings with the SEC which are incorporated herein by reference. as of the date on which they are made and the company assumes no obligation to update forward-looking statements to reflect events or circumstances after the date of this release.
Copyright 2022 GlobeNewswire, Inc.