October 16,
2015 by in Business Strategy, Industry 
The face of furniture retailing continues to evolve. What will it look like in the future?
By Bob George
This is not a new concept. In fact, for decades the expansion of air travel, the exploration of foreign countries by National Geographic, and the impact of the Internet have made us truly a world community.
Now, social media and the vast content of the Internet will, at the very least, allow people to be there in spirit. Furthermore, today international flights are departing from relativity small airports thus making it possible for the general public to get there easily.
What does this have to do with the furniture industry? Obviously, in the manufacturing sector, the production has and continues to move offshore. (See the current Statistically Speaking article.) However, what about the retail sector? In the not too distant past furniture retailing was local with a family name above the door and a reputation in the community that facilitated the consumer purchase.
Yes, there are many regional chains personified by local ownership remain on the retail landscape. Nevertheless, like restaurants, that local great place to eat has been joined by national chains offering good food and acceptable service. While the consumer encounter is good, this location offers neither the local flair nor the exceptional experience.
Will furniture retailing evolve to several national chains offering consistent service of a commodity product designed to satisfy the blended taste of a national consumer?
All of this leads to this question. Will furniture retailing evolve to several national chains offering consistent service of a commodity product designed to satisfy the blended taste of a national consumer?
Does economy of scale dictate that a 500-plus store chain only deliver the experience demanded by the consumer? Obviously two stores have the advantage over one but, if continued to increase, when does the point of diminishing returns come into play? And what gets lost in the process?
The challenge for local retailers is to truly differentiate themselves from the faceless larger chains that are gradually moving into their markets. This is documented in our feature article. From a consumer’s perspective of what is important, being No. 1 across the board is a necessity. What is your consumer DNA?
Sometimes it is not just about price or an extensive selection. The larger retailer will focus on one or two factors, such as price, selection, and the like, expecting the consumer to accept less than great on the others. Local retailers cannot let the consumer settle. If you communicate your differences, they won’t.
October 16,
2015 by in Business Strategy, Industry
Make the most of the Fall Market by discovering, connecting and learning.
by Sheila Long O’mara
Welcome to the Fall High Point Market. Central North Carolina can be quite beautiful this time of year as the fall foliage starts to change and cooler temps roll adding crispness to the air. And of course, it means the Market is here.
Time to refresh store merchandising with the latest home furnishings designs. Time to reconnect and catch up with industry friends. Time to swap ideas and strategies to boost business. Time to participate in a seminar or three to improve your marketing, logistics, sales or social media prowess.
We tend to think of the New Year or spring as times for new beginnings. Thankfully, the market cycles of our industry deliver a chance to freshen up every few months.
Take advantage of all that Market has to offer while you’re weaving your way through showrooms, seminars and socials. There’s a lot to be uncovered in 11.5 million square feet scattered among 2,000-plus exhibitors in 180 showroom buildings.
From my showroom tours of premarket and the Casual Market Chicago, exhibitors have a wealth of new product to showcase. Some of it is quite lovely while some misses the mark.
Please, allow me to preach for a bit.
I saw a lot of sameness from showroom to showroom, leading me to believe the herd mentality of our industry is alive and well.
For years, it seems as if a collection becomes a breakout success on retail floors, the next Market is flooded with similar looks.
Let’s be honest. In all reality, how many Restoration Hardware lookalikes with “dry finishes” can one retail floor hold? I’d be willing to say not as many as manufacturers are currently funneling into the marketplace.
All done.
This season brings with it a cadre of names from fashion, design and the music scenes. EJ Victor and Jaipur will unveil collections with Kate Spade, while Hooker Furniture is featuring Cynthia Rowley. Designer and HGTV’s “Fixer Upper” host Joanna Gaines has teamed with Standard Furniture for a collection, and country music singer Eric Church has partnered with Pulaski Furniture for a collection.
Exciting looks are out there. Seek them out and bring them to life on your retail floors to set yourself apart in your market. Make the looks your own and continue to wow consumers with exceptional service, design expertise and professional delivery.
Do me a favor. When you discover new product at Market that strikes your fancy, pop me a tweet @sheilalongomara or @hfbusiness. I’ll be on the prowl for great things, too, and I’m happy to share. Not on Twitter? Feel free to e-mail me at slomara@hfbusiness.com
Here’s to a great Market filled with great discoveries.