DVA, Inc. formed in 1987 as a seller of store-opening inventories working with Blockbuster franchises. By 1998, the company began moving large quantities of DVDs on eBay, and from that point on the firm was sold on buying and selling inventory online. Four years ago, DVA adapted to the ever-changing media industry by diversifying its inventory to include electronics, housewares and automotive products. The company has made a number of upgrades recently, as it works to maintain a top position in the media industry.
This year, DVA opened its first brick and mortar warehouse, a project seven years in the making. "Several years ago, the firm began to hold an annual warehouse sale the weekend after Black Friday," recalls Brad Kugler, owner and CEO. "It gained considerable traction, drawing 8,000 people to the warehouse in a single weekend." When customers began asking why the event was not a more regular occurrence, Kugler says he was assured that the interest level was high. "At the same time, we noticed that there are certain types of products that simply do not sell well online because of the shipping costs," he continues. "So we feel a brick and mortar component is necessary for us to run the full gamut." DVA now operates fully functional wholesale, Internet and retail divisions.
The company has made a few other changes, including adding an electronics refurbishment department, and a program for helping innovators launch new products. "We are marketing these through our New Product Revenue Sharing Program," Kugler explains. "Sometimes a business is looking to sell something new that we are not necessarily comfortable with, so we take it on anyway and split the revenue it generates."
The Revenue Sharing Program is not the first strategy the company has put into action. DVA's special markets division, for instance, is the company's way of making sure every genre of media sells equally well, including more obscure titles and categories. "For offbeat movies about trains, for example, we will seek out train museums," Kugler points out. "We are actively pursuing the niche markets for specialized products. Otherwise, those products would be sold in a market where they would not have as much sway." Being able to target the right audience for specific products has been a key factor to the company's profits and longevity.
Focus on connectivity extends beyond DVA's business transactions to strengthen its online presence, particularly through the company blog, written by brother and business partner, Ryan Kugler. This blog serves as a sounding board where the company can address industry issues, media buying trends and relevant economy news. "My brother talks to vendors and customers every day and is very in tune with what is going on in the industry," Kugler offers. "It may not be big news out in the world, but to people who do what we do, this an important facet of our website."
In the coming year, Kugler will concentrate on opening three additional retail stores in Florida, opting for locations in close proximity so that he can keep an eye on the efficiency and progress of each one. "By the end of 2014, I want to reach the point where we are operating at least six stores," he shares. "That will help us be more adaptable to buying a greater volume and variety of merchandise, and ensure our success for another 25 years."
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