A big public distributor of heating, ventilation, and air conditioning (HVAC) is accelerating its rate of adoption for digital transformation—and commerce.
For the year ended Dec. 31, Miami-based Watsco Inc. grew ecommerce by 31% to about $2.00 billion from $1.53 billion in 2020.
In comparison, total sales in 2021 increased 24% to $6.28 billion from $5.05 billion in the previous year. Net income for the past year was $489.7 million vs. $323.2 million in 2020.
“In U.S. markets, the number of ecommerce transactions grew 18% to 1.5 million sales orders, and the number of active ecommerce users grew 18% as more customers engage with us digitally,” the company says. Ecommerce now accounts for about 32% of all sales.
Watsco, which is heavily investing in its ecommerce sales channel, also posted several other digital metrics, including:
- The number of users for its Contractor Assist apps, which provide real-time access to technical support, product detail and inventory information, warranty look-up, the grew 11% to more than 41,000 users.
- OnCall Air, a platform that gives Watsco’s dealers and contractors new ways to connect with consumers online for making proposals, and for buying and financing replacement systems, presented quotes to approximately 180,000 households during 2021 and facilitated the sale of $633 million in gross merchandise value from contractors to consumers, the company says.
“We continue to make progress toward our long-term goal of scaling Watsco’s technologies for more and more HVAC/R contractors,” says CEO Albert Nahmad. “As customers adapt to the digital age, we believe that Watsco has the industry’s most sophisticated tools to help customers grow and operate with speed—our time horizon remains long-term, and we believe we are still in the early days for what is possible.”
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