Retail Merchandiser - November/December 2017 - 24
Monoprice will offer a seamless online shopping experience, with product managers curating a variety of high-quality solutions across multiple product categories, he adds.
Initial products will include 3D printers, headphones,
small appliances, wall mounts, and a variety of A/V and IT
products targeted for retail consumers and B2B including
installers, education and Fortune 500 companies. "This expansion is a part of a multi-angle approach, which includes
in-country logistics and relationships with large marketplace partners, such as Amazon," Luthi explains.
He notes that this approach not only signifies a strong
commitment to European consumers, but also ensures orders have inexpensive shipping and faster delivery directly
to customers' doors, with no holdups at customs and no
"Next year we'll concentrate on strengthening our presence in South America and continuing to bolster our presence in Europe, Asia and Australia," Luthi says. "While
Canada and the U.S. will still remain a focus, international
growth is a top priority."
This circles back to customer acquisition, Luthi adds.
"We want to bring the Monoprice story and value proposition to the rest of the world."
Building on Success
Monoprice was recently named the No. 1 selling 3D printer brand in the world. The company aims to capitalize on
the recognition to gain a bigger share of customers.
"As 3D printing continues to evolve, it can be huge for
us," Luthi says. "At the price point we're selling printers for,
everyone can own a 3D printer and begin to familiarize
themselves with the technology."
He adds that as 3D technology is adopted, customers will
see that it's both educational and fun, and Monoprice will
be able to capitalize on the growing consumer segment.
"We can utilize that growth and our brand recognition
to acquire customers who will begin to understand who
Monoprice is outside of just 3D printing," he says, adding
that customers can then be introduced to its wide array of
"The next time they're looking to upgrade their TV
cables, buy a guitar or buy outdoor equipment, they will
know that they can find what they are looking for with us,"
Luthi continues. "They'll start to know us as the go-to for
affordable, high-quality products across categories."
With the support of owner YFC - BonEagle, Monoprice feels like it cannot be stopped in terms of growth and
success, Luthi notes.
Monoprice is the go-to place to find affordable,
high-quality products across multiple categories.