New Omni-Channel Distribution Intended
to Improve Margins, Streamline B2C Sales Process
Fort Lauderdale, FL, May 02, 2022 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (OTCQX: SMDM) – the worldwide leader in consumer karaoke products today announced it has launched a new e-commerce site with the focus on omni-channel marketing approach to growing its direct-to-consumer business.
Coming off the heels of Singing Machine’s viral TikTok success 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 sell its products directly to consumers.
The Carpool Karaoke™ Microphone enjoyed wide product adoption, including hundreds of social media posts that went viral, generating more than 250 million views. Due to this extreme increase in organic influencer promotion, the Carpool Karaoke™ Microphone realized 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 related fulfillment capabilities to directly support a more robust omnichannel approach.
This new omnichannel approach directly compliments the Company’s long-standing 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 brick and mortar locations around the U.S., generating over $50 million a year in gross sales in 2021.
Gary Atkinson, CEO, commented, “Our products are fun and bring joy to over a million households a year. There is no better way to showcase this excitement than through real user generated content on social media. One of Singing Machine’s core strengths has always been retail-focused distribution. This provides us a significant competitive advantage through our best-in-class retail partnerships. However, as we saw in our phenomenal TikTok success, we are aware that there are an increasingly large number of consumers whose shopping habits occur exclusively online. These consumers may never step foot into a brick-and-mortar store, and they demand alternative points of purchase when our products pique their interest.”
“Part of our evolving sales strategy is to drive social media centric, viral interest on our products primarily through influencer and brand ambassador activations. This naturally leads to new and exciting B2C opportunities for our team. Our goal is to grab the attention of these internet customers wherever they shop, which includes predominantly social media platforms and internet search. Our new e-commerce website and associated B2C marketing strategies are designed specifically to help us increase conversion of sales and expand our profits margins within this sales channel,” Mr. Atkinson concluded.
About The Singing Machine
Singing Machine® is the leading provider of karaoke products to consumers across the world. The Company offers the industry's widest line of at-home and in-car karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. The Company’s products are sold in over 25,000 locations worldwide, including at well-known retailers such as Amazon, Costco, Sam’s Club, Target, and Walmart. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products. To learn more, go to www.singingmachine.com.
Investor Relations Contact:
Brendan Hopkins
(407) 645-5295
investors@singingmachine.com
www.singingmachine.com
www.singingmachine.com/investors
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2021. You should review our risk factors in our SEC filings which are incorporated herein by reference. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.
