For JB Hi-Fi boss Richard Murray a fridge isn't just a fridge - it's part of a future where homes are networked and whitegoods are just another part of a tech retailer's offerings.
"Our view is: when people are coming into a JB Hi-Fi shop, if they can buy a Samsung TV, a Samsung tablet, but they can't but a Samsung fridge, that's going to be a challenge for us over the next five-plus years," Mr Murray told a conference on Wednesday.
JB Hi-Fi's growing interest in the whitegoods and home appliances sector is spurred by the fact that in the near future, people's homes will have more interconnected appliances and services.
Mr Murray told the Stockbrokers Association of Australia event in Melbourne that JB Hi-Fi is looking at where companies such as Samsung and Google are investing in research and development at the moment.
"It's a lot about the connected home," he said.
Mr Murray said JB Hi-Fi needed to ensure that it could offer the full suite of products from its various suppliers.
Furthermore, JB Hi-Fi's software business was not growing and the company needed to find a new business to compensate for that.
JB Hi-Fi has held takeover talks with whitegoods retailer The Good Guys, but Mr Murray gave no indication of the progress of the negotiations.
Mr Murray said JB Hi-Fi is "working hard to understand" the opportunities of its push into the whitegoods sector.
"It's early days in the process," he said.
Asked how JB Hi-Fi would increase its presence in the home appliances market should it fail to acquire The Good Guys, Mr Murray said the business currently had a share of around three per cent in the home appliances market, which was below the company's market share in other categories.
"There's a number of ways you can increase your market share. You can fill in the blanks on that," he said.
Share
