Cooper Sees New Products and More Online Sales as Path to Growth
Cooper Tire & Rubber Co. will unleash 18 new products over a 24-month timeframe, and has found another online avenue to sell tires to consumers.
During a call with investors, Brad Hughes, Cooper's CEO and president, says despite the company's newest 2018 projection of an overal flat unit volume, there is reason to believe those sales will improve. Cooper is refreshing and updating its product lineup with 18 new products in the next 24 months.
In addition, the company is continuing its searching for more online sales.
Hughes said, "Expanding with new channels is another important strategy for Cooper. We have told you about our successes with online sales channels such as Tire Rack and TireBuyer, and the multiple top 10 rankings our tires are earning on these sites. As we continue to build out our e-commerce, Cooper is very excited to have recently initiated a new relationship with a leading retailer's online site. This new relationship will significantly enhance our ability to reach consumers and help Cooper be where consumers want to shop for and buy tires today."
You didn't miss it. Hughes didn't provide the retailer's name.
But digital strategies were an emphasis for Hughes.
"You have also heard us talk about the importance of digital. Cooper has been actively engaged in some digital marketing tests that are enhancing our learning. We recently established a dedicated digital marketing team within Cooper to build on the work we have been doing in this area."
To read about Cooper's financial performance in the second quarter, see Cooper Tire's 2Q Profits, Sales and Unit Volumes Are Down.