This week, we speak with Jeff Poggi, co-CEO of McIntosh Group, manufacturer of audiophile components widely regarded as among the finest in the world. Despite the pandemic, the company notched their best sales year in their 70-year history.
He explains why the pandemic and lockdown has led to people spending 24/7 at home, they have spent less time and money on other discretionary entertainment purchases — concerts, vacations, shows, etc. — have led people to upgrade their homes, video and audio gear. The company’s manufacturing plants were all closed for 4-6 weeks in March and April, but from June forward, each month was new record for sales.
For the first time in decades, vinyl sales surpassed CD sales in 2020 – Poggi explains what this means and how the audiophile community has been expanding. Similarly, as movie theaters close and the industry changes, film and video consumption has also migrated to the home, which is another driver of McIntosh’s business.