Sonos Offers Existing Customers 15% 'Upgrade Credit' as Supply Grows
Sonos went back to the well in a Friday email promotion, pitching existing customers on a 15% “upgrade credit” on items in its holiday season gift guide. Sonos CEO Patrick Spence frequently references the company’s loyal customer base as a…
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source of growth, saying on a February earnings call Sonos "is not a typical one-and-done purchase. It is a unique system that you build over time.” In fiscal ’21, existing customers made about 46% of new product registrations, said the annual report. As of October 2021, 60% of Sonos’ 12.6 million households had registered more than one Sonos product, with its households owning an average three. The company is expected to be more promotional in the 2022 holiday season after supply chain snags limited its holiday quarter revenue growth to 3% for the quarter ended Jan. 1. The holiday guide organizes products according to customer type: traveler, gamer, cook, cinephile, “basshead,” vinyl lover, entertainer and remote worker.