BrandSource dealer Albert Lee Appliance is one of multiple members listed in the TWICE Top 50.
Annual ranking of appliance giants reflects soft 2022
By Alan Wolf, YSN
Each year TWICE Magazine publishes its Top 50 Major Appliance Retailer Report, and each year AVB BrandSource is well represented among the dealer rankings.
This year was no different, with no less than 13 BrandSource members making the grade, based on total 2022 appliance sales. Among those listed were Albert Lee, Big Sandy Superstore and Grand Appliance, each of which were included among the top 20 largest white-goods dealers in the nation.
Also topping the TWICE charts were such renowned retail members as Yale, Famous Tate, Spencer’s, Orville’s and University Electric.
Together their combined appliance revenue rivaled that of some of the largest retailers in the world, although most, if not all, Top 50 contenders faced a challenging 2022. Indeed, total Top 50 sales as reported by TWICE slipped 1.2% year over year to $38.6 billion, as high interest rates, a static housing market and the hangover from consumers’ post-COVID buying spree put a damper on demand. As one retailer remarked, “It’s not pretty out there.”
See: We Bought a Lot of Stuff During COVID
Another cause for concern is continued consolidation within the retail ranks. TWICE research partner Bob Tancula, president of market intelligence firm Senex, noted in the report that the top two appliance sellers — The Home Depot and Lowe’s — together accounted for 60% of total Top 50 revenue, up from 32% in 2005. “If a retailer controls this much of the market, you can get a sense that they will find a way to get through the rough waters,” he wrote.
Rounding out the top five are Best Buy, Walmart and New York’s P.C. Richard & Son, with Costco placing a distant sixth.
BrandSource, a unit of YSN publisher AVB Inc., is a nationwide buying group for independent appliance, furniture, mattress and CE dealers.
