Table of Contents
Despite the recent shutdown of Herman Brothers, PC Richards isn’t going the same way. Being a family business for four generations, it has made a big name for itself. It boasts 66 stores, three distribution centres, and employs 2,967 people1, proving it’s still very much alive and kicking.
The end of Herman Brothers doesn’t spell trouble for PC Richards. In fact, the company is growing, having opened new stores in Greenvale and Patchogue. This shows its commitment to expansion. The rebuilding of two stores after Hurricane Sandy also demonstrates its resolve1.
PC Richards has built a loyal following by being trustworthy. It’s known for good value, offering quality products at prices much lower than competitors like Best Buy21. This makes it a popular choice for electronics and home appliances.
The “Get Cool NYC” scheme shows PC Richards cares about the community. It aimed to help low-income seniors by providing air conditioners. Though only 382 of 58,740 units were installed, their involvement was significant2. Ending their installation services is set to increase costs by at least $3.3 million, indicating the value of their work2.
Key Takeaways:
- PC Richards is not going out of business, despite the closure of Herman Brothers.
- The company has a strong reputation and continues to expand its operations.
- PC Richards has a loyal customer base due to its affordable prices and quality products.
- The company has participated in community initiatives, showcasing its commitment to social responsibility.
- PC Richards’ decision to end installation work for the “Get Cool NYC” program has significant cost implications.
For a look at what PC Richards has to offer in electronics and appliances, visit their website here.
Herman Brothers’ Closure
Herman Brothers, a longtime rival of PC Richards, recently decided to shut down for good. Many loyal customers are sad because they loved the store’s history and products. The owners had to close due to their age and no one to take over. This shows how much they cared for their community. However, PC Richards is still doing well in the business.
The end of Herman Brothers affects the local business scene. Not just the customers, but also partners and suppliers will feel this loss. It also creates opportunities for competitors in the retail industry. The closure impacts a wide range of sectors. These include asset management and telecoms, as a list of companies shows3.
Looking at the data3, it’s clear that Herman Brothers’ closing affects many. Industries like healthcare and entertainment are also touched. Companies listed in the data, like Clean Energy and Falcon Oil & Gas, show the wide effect. Even big accounting firms like Ernst & Young and KPMG are involved. This proves the closure’s broad impact.
Despite Herman Brothers closing, the retail world keeps moving forward. PC Richards stays strong, offering great products and service. This commitment shows they are ready for the future. They continue to grow, keeping the spirit of stores like Herman Brothers alive.
PC Richards’ History and Reputation
PC Richards has been offering top-notch products and services for over 100 years. It was founded in 1909 by Pieter Christian Richard. Initially, it was a small hardware store in Bensonhurst, Brooklyn. It soon shifted to selling appliances and electronics, meeting its customers’ changing needs4.
PC Richards is known for its Honesty, Integrity, and Reliability. These qualities have built its reputation for trustworthiness and high quality over five generations of the Richard family4. These core values still drive the company’s culture and day-to-day activities.
Starting as a modest store, PC Richards is now a leading retailer in the Northeastern US. It expanded into Long Island in the 1950s, which was a big step. Since then, it has grown and started offering a wide range of products. These include home appliances, televisions, radios, and mattresses, catering to what customers need4.
PC Richards is not just about selling goods; it’s known for its amazing customer service. This dedication has won them a loyal customer base over the years. Shoppers at PC Richards get help from friendly and knowledgeable staff4. This commitment is also seen in the A.J. Richard Learning Centers, where customers learn to make smart choices4.
In 2012, Gregg Richard became CEO, leading PC Richards to further success. Today, Peter C. Richard III manages the company’s three warehouses. He ensures products are distributed efficiently4.
With a strong history, commitment to values, and a great reputation, PC Richards has achieved great success. They focus on making customers happy, offer a wide range of products, and are always growing. PC Richards is well-set for the future, continuing to offer outstanding service4.
PC Richards’ Retail and Wholesale Businesses
PC Richards stands out in selling appliances and electronics. It has 65 stores in New York, New Jersey, Connecticut, and Pennsylvania. These places offer a lot, from fridge freezers to tablets. They help both house users and businesses.
PC Richards doesn’t just sell things directly to people. They also sell in bulk to businesses. Their Builder Division works with developers and builders in the tri-state area. This makes them a top supplier for the housing market.
The Long Island Appliance Wholesale (LAW) Division is key too. It gives small shops and dealers good deals on their stock. This helps local shops grow and fosters partnership. The LAW Division supports the retail market’s growth in its area.
PC Richards also focuses on training and facilities. They have three A.J. Richard Learning Centers. Located in New York, New Jersey, and Connecticut, these places train staff. They make sure employees are at the top of their game.
Sector | Facility | Location | Size (Square Feet) |
---|---|---|---|
Retail | Superstores | Various | Varies |
Wholesale | Builder Division | Tri-state area | N/A |
Wholesale | Long Island Appliance Wholesale (LAW) Division | Tri-state area | N/A |
Training | A.J. Richard Learning Centers | Farmingdale, NY; West Carteret, NJ; Bridgeport, CT | N/A |
PC Richards is known for its excellent customer service too. Their Customer Call Center gets over 4000 calls a day. It helps with questions and booking repair visits. This shows how reliable and quick to help they are.
They care a lot about the quality of what they sell. PC Richards sets up more than 750 products daily in the tri-state area. Their Merchandising Team makes sure the showrooms are full of diverse products. This meets every customer’s need and taste.
With its strong stores, wholesale departments, and focused facilities, PC Richards keeps doing well. They offer great service, train their staff well, and work closely with makers. They aim to grow and keep providing excellent service.
For more information about PC Richards’ retail and wholesale businesses, please visit this link.
5 Here’s a quick look: There are 64 Superstores with important staff and three A.J. Richard Learning Centers. There’s also a huge 1 million square foot warehouse in Farmingdale, NY. Plus, regional warehouses in West Carteret, NJ, and Bridgeport, CT. The Builder Division and the LAW Division support many clients. There are even 44 places for car entertainment installation. Lastly, they have big repair centers in New York and New Jersey. Over 4000 calls are handled daily, and more than 750 products are installed. The Merchandising Team looks after the products in the showrooms, offering a vast range.
Relocation Plans
PC Richards, a well-known electronics retailer, is expanding. They’ve just shared plans to move, showing they want to serve their customers better. They’ve secured a long lease for a space of 30,000 square feet at 2220 Broadway6.
This move is a big step for PC Richards, taking them from 2372 Broadway to the old DSW space6. It’s an exciting chance for growth and shows they’re responsive to the changing marketplace.
The new location at 2220 Broadway places PC Richards in a busy area. With retail rent at $277 per square foot here, it’s a sought-after spot6. This move is seen as a smart business choice, aiming at growth.
Since DSW left in February 2022, the 2220 Broadway space has been empty6. Now, PC Richards getting this space is perfect for their growth plans. It strengthens their commitment to the local community.
PC Richards plans to start in their new spot by mid-20246. This gives them time to set up a great shopping experience for their customers.
PC Richards is focused on growth and expansion. Last year, they made $410 million, showing their solid place in the market7. This success comes from their strong reputation and customer trust.
Expecting to grow by at least 10% annually, PC Richards is well-positioned for the future7. The company started in 1909, founded by Peter Christiana (P. C.) Richard7. Now, it thrives under the guidance of the fourth generation.
Gregg Richard, 30, is the next president, with Peter Richard Jr., 25, as the upcoming executive vice president7. This shows their readiness for fresh leadership while keeping their legacy alive.
Statistical Data | Reference |
---|---|
P.C. Richard & Son signed a long-term lease for a 30,000 square foot space at 2220 Broadway to relocate their showroom from 2372 Broadway. | |
The average asking retail rent in the neighborhood where P.C. Richard is relocating was $277 per square foot in the first quarter of the year. | |
The space P.C. Richard is moving into was vacated by DSW, a discount shoe seller, in February 2022 after nearly a decade. | |
The new location for P.C. Richard at 2220 Broadway, owned by the Zabar family, has been vacant since DSW left. | |
The company plans to start operating from its new location in mid-2024. | |
P. C. Richard & Son had revenues totaling $410 million last year. | |
Anticipated minimum growth of 10% a year in each store. | |
The business was opened in 1909 by their great-grandfather, Peter Christiana (P. C.) Richard. | |
Six members of the fourth generation are actively involved in the company. | |
Gregg Richard, 30, has been chosen to succeed as president, while Peter Richard Jr., 25, is set to follow as executive vice president. |
Customer Loyalty and Trust
PC Richards is known for its great customer service and trustworthy products. The company has won the hearts of many customers over the years. Their dedication to keeping staff well-trained and up-to-date with the latest tech has built strong trust with customers8.
Customer loyalty is influenced by cognitive, affective, and social experiences. Before the pandemic, knowledge and emotional connections were key. Nowadays, social factors, like recommendations and the ease of switching retailers, have become more important. Yet, the impact of these factors on loyalty has stayed pretty consistent, except the cognitive aspect weakened after the pandemic8.
Analyzing online reviews showed that customer loyalty comes from positive feedback and repeated purchases. Customers also value the option to change retailers if needed. This shows that satisfaction and good experiences are vital for loyalty and trust, especially in online grocery shopping8.
In today’s world, trust and loyalty are crucial for business success. With higher customer expectations post-pandemic, companies face challenges. In 2022, 74% of US customers had a bad customer service experience, an increase from the year before. A decrease in satisfaction was noticed, with a customer satisfaction index score of 73.4 in Q4 2022. Fraud losses, which topped $1.03 billion, have also made customers wary9.
To gain and keep trust, companies need to offer personalized experiences. 68% of individuals want brands to tailor interactions for them. With contact volumes rising post-2020, 71% of customer service leaders recognize the need for better service. Now, 78% of customers expect self-service options as well as traditional support9.
Great customer service can significantly boost profits, as found by a Bain & Company study. Companies with poor customer service see a huge profit loss potential. A bad customer service encounter could drive 7 out of 10 customers away. Thus, the link between customer service quality, and loyalty and trust is clear9.
In summary, PC Richards has built a loyal customer base with superb service and dependable products. The emphasis on staff training and keeping up with trends has earned customer trust. With high customer expectations nowadays, delivering outstanding customer service is key to keeping loyalty and trust89.
Future Growth and Expansion
P.C. Richard & Son has a rich history of 108 years, led by five generations of the Richard family. They are not just looking back but aiming to grow and reach more people. They are all set to become the top choice for builders, developers, and designers looking for appliances.
This company has 2,700 dedicated employees. They serve around 5,000 customers every day. They provide deliveries, installations, and exceptional appliance services. Their customer-first approach and carefully selected products have built them a strong reputation.
In the 1990s, PC Richards grew significantly, opening twenty-two new showrooms. They also moved to a huge 650,000 square-foot site in Farmingdale, Long Island10. Now, they have 66 showrooms, three distribution centres, two service centres, and four A.J. Richard Learning Centers. This expansion has strengthened their market presence10.
Their growth didn’t stop in New York. In the 2010s, they launched seven superstores in Connecticut. These establishments, alongside a warehouse, corporate offices, and a service centre, have boosted their ability to serve more customers. This expansion also showcased their wide range of products10.
PC Richards has constantly updated their showrooms for a better shopping experience. They now have areas for mattresses, mobile installations, designer appliances, Mac computers, and premium TVs. They’ve added high-tech TV walls to all their stores. This lets customers try out the latest TV technology easily10.
They also focus on educating their customers online. Their website features a virtual A.J. Richard Learning Center. It has videos and blogs that help customers make informed purchases10. They sell a wide range of products, aiming to cater to everyone’s needs.
PC Richards has a solid history and is constantly looking to improve and expand. With their innovations and commitment to customers, they’re set to lead the retail industry for a long time.
Conclusion
PC Richards is doing well and is not closing down. The closing of Herman Brothers made some people worry. But PC Richards is still doing great in selling appliances and electronics.
The company is the top independent appliance supplier in the country11. It has 65 stores in four states, showing its strong market position11.
Some customers have had bad experiences. Yet, salespeople like Jose and Elizabeth are often praised12. The company is working to get better at handling complaints and serving customers12.
Looking to the future, PC Richards has big plans. Led by CEO Gregg Richard, it aims to enter new markets. It focuses on keeping good relationships with builders and designing folks11. This commitment to quality and service will keep PC Richards ahead1112.
FAQ
Is PC Richards going out of business?
No, PC Richards isn’t shutting down. The closure of Herman Brothers, a competitor, doesn’t mean PC Richards is in trouble.
Why did Herman Brothers close?
Herman Brothers shut down because the owners were getting old. Also, there were no family members ready to take over.
What is PC Richards’ history?
Founded in Brooklyn in 1909, PC Richards has a rich history in the furniture and appliance industry.
What is PC Richards known for?
PC Richards stands out for its quality products, fair prices, and top-notch customer service.
Is PC Richards only a retail business?
No, PC Richards has both retail and wholesale operations.
How many stores does PC Richards have?
There are 65 PC Richards stores spread across four states.
Who are PC Richards’ competitors?
PC Richards goes head-to-head with major retailers like Costco, Walmart, Home Depot, and Best Buy.
What is PC Richards’ wholesale division known for?
The wholesale division of PC Richards is known as the top independent appliance supplier to residential projects nationwide.
Is PC Richards planning to relocate?
Yes, PC Richards plans to move its old West 87th Street location to where DSW was on West 79th Street.
What are PC Richards’ plans for the future?
PC Richards aims to break into new markets. They want to be the go-to appliance supplier for builders and designers.
Why is PC Richards successful?
The secret to PC Richards’ success lies in its excellent service and reliable products. This has helped it build a loyal customer base.
Source Links
- https://libn.com/2013/04/08/qa-gregg-richard-p-c-richard-son/ – Q & A: Gregg Richard, president, P.C. Richard & Son | Long Island Business News
- https://www.nydailynews.com/2020/09/01/pc-richard-son-says-city-hall-should-be-in-the-hot-seat-for-their-get-cool-nyc-program/ – P.C. Richard & Son says City Hall should be in the hot seat for their ‘Get Cool NYC’ program
- https://www.sec.gov/enforcement-litigation/administrative-proceedings/closed-litigated-administrative-proceedings – SEC.gov | Closed Litigated Administrative Proceedings
- https://www.pcrichard.com/born-to-sell-the-story-of-our-founder-a.j.-richard/Blog-7269.html – Born to Sell: The Story of Our Founder, A.J. Richard | P.C. Richard & Son
- https://careers.pcrichard.com/page/departments – test-1
- https://commercialobserver.com/2023/07/pc-richard-upper-west-side-move-2220-broadway/ – P.C. Richard Moving UWS Outpost to Former DSW Space on Broadway
- https://www.nytimes.com/1995/07/23/nyregion/6-in-family-moving-p-c-richard-to-the-future.html – 6 in Family Moving P. C. Richard to the Future (Published 1995)
- https://link.springer.com/article/10.1007/s10660-024-09857-y – What drives customer loyalty in a pandemic? Semantic analysis of grocery retailers – Electronic Commerce Research
- https://www.nextiva.com/blog/customer-service-statistics.html – 100+ Essential Customer Service Statistics & Trends for 2024
- https://assets.projects.newsday.com/media-kit/PCRichardFamilyBusiness.pdf – PDF
- https://therealdeal.com/sponsored/pc-richard-and-son-builders-division/p-c-richard-son-continues-to-expand-builders-division/ – P.C. Richard & Son Continues to Expand Builders Division – The Real Deal
- https://www.trustpilot.com/review/www.pcrichard.com – P.C. Richard & Son is rated “Poor” with 2.4 / 5 on Trustpilot