The 1970s brought more change to the company. Realizing that we could not meet the needs of every customer, the company decided to make a shift in their product offering and focus on three major product areas; lighting, apparatus and supply, and housewares and small appliances.
1971 marked the end of our major appliance division. Standard Electric no longer carried items like refrigerators, cooktops, washers, and dryers as retail chains began buying directly from the supplier.
With the shift of business moving from residential to industrial, our lighting focus also changed from residential to industrial and commercial. As the price of energy spiked with the oil crisis of 1973, a unique opportunity presented itself to the company. Standard Electric was able to show the ROI of new efficient lighting to hospitals and other commercial buildings. They began to retrofit these buildings with efficient fixtures and in return, the hospitals and other companies were given rebates from the utility companies for energy savings. In the late 70s, our residential lighting showroom closed.
Our last appliance catalog was published in 1973. However, we continued to sell small appliances to the banking industry who used these items as incentive gifts for opening accounts as well as making deposits of certain denominations.
Our logo also changed in 1973, the lights were dropped from the side of the diamond. This was a direct reflection of the company no longer being a manufacturer of lighting fixtures.