Tough economic times mean that consumers have to take a good, hard look at what they buy, limiting purchases to only the essentials like groceries, rent, and… snowmobiles?
What happened: Quebec-based BRP, the maker of Ski-Doos and Sea-Doos, just had its best quarter ever, posting $2.7 billion in revenue (a 71% increase from the same quarter last year) to end a banner year for the company.
- One analyst told Financial Post that the company saw “probably the best [growth rate] in the consumer sector in Canada” this year.
Why it’s happening: BRP saw already strong sales numbers in personal watercraft and snowmobiles, further boosted by the introduction of a new product, a Sea-Doo Pontoon.
BRP was also prepared to meet the high demand for its products thanks to a unique plan to overcome supply chain snarls that often left its factories short on crucial parts for vehicles.
- When a product is waiting on a part, BRP still sends it out to a dealer. When they get the missing piece, they then send it along to the dealer, who retrofits it themselves.
- This practice spreads the workload between BRP and its 3000 registered dealers, making installations go faster and getting products off the lot quicker.
Why it matters: BRP’s success isn’t just a feel-good Canadian biz story, but proof that supply chain disruptions and a looming economic downturn don’t have to be death sentences for company growth.