Retail Merchandiser - November/December 2017 - 22
Monoprice's customers not only include retail consumers, but also about 30 percent of its business is targeted to
the B2B segment.
"There are many large household names that buy from
Monoprice," Luthi says. "We have a strong vertical focus and
have education, installation, and distributors who buy from
us. In many ways, we really have an omni-channel presence."
Monoprice has retailers "knocking on its door" to have
product placed on their shelves, according to Luthi. "It's
interesting because it's the opposite of where the business
has come from," he says, noting that the company had
"resisted" until recently.
"As Monoprice continues, I think you'll find our products in more diversified places," he says. "We certainly want
people to come to our website, but we're really trying to get
our products in the hands of consumers at a price-quality
ratio that is better than our competitors."
Additionally, Luthi notes that Monoprice's evolution
from a cable business to a multi-category business further
sets the company apart from its competition.
From product lines that begin with its core offerings
- including cable, adapters, wall mounts and installation
AV-oriented products - Monoprice has expanded into
home appliances, professional lighting and stage
equipment, outdoor products, home automation, and fitness and exercise equipment.
He adds that the company's mantra
is that we are going to "Monoprice" the
"That means we're going to find a
margin-rich product environment
where we can enter the market, manufacture and source
high-quality product directly,
bring it to the U.S. and then
sell it 30 to 70 percent less
than what the leading brands
sell it for," he explains, adding that Monoprice is a consumer
get a great