Monthly Issue
From Home Furnishing Business
March 7,
2016 by in Business Strategy, Industry 
I confess. I shopped online and bought a new mattress. Yep, you read it right. The fan of all things retail—most especially home furnishings retail—broke the golden rule and bought online.
Before you start writing the hate e-mail, I’ll explain.
First and foremost, it came down to a convenience and time-crunch thing. Two of us share the master suite, and more times than not, the down time we have involves lacrosse matches, concerts, art shows or robotics competitions. We don’t have much time to visit a furniture store or a bedding store together. We’re busy.
Next, it was time for a new sleep set; actually, a year or two beyond time. We’re aging, our bones ache and we’ve become restless sleepers. We’re keeping up with three kiddos, all at different schools with different activities.
So here’s how our mattress purchase happened.
We spent a weekend with friends at the beach. They’d recently replaced the mattress in one of the guest rooms at their beach house. The very guest room in which we typically sleep.
For two nights, we sleep beautifully, peacefully and comfortably. We awoke the first morning and were pleasantly shocked. The second night rendered the same results. We were hooked and scrambled under the mattress cover to find the maker and model name.
Shocking that we agreed on the same sleep surface. He prefers firm as a rock; me a bit softer. This bed met and passed both of our comfort requirements.
Sold!
Once back home, we were online searching for the bed, which shall forever more remain unnamed to those in the industry. Within a few computer keystrokes, there it was—sleep utopia. We knew it was the one. We’d had the best, two-night rest test of all time. That, sadly is something you just can’t get in a retail store. To be fair, you can’t get it online either.
A few more computer clicks, and the bed was ordered with free, white glove delivery. Bonus points when you consider the trick of hauling a king up the stairs and making a hairpin turn into the bedroom.
The delivery guys arrived as scheduled—more stars. Carried the mattress and foundations up the stairs; set them in place; and removed the old set.
Done. Clean, simple and easy. The only way it could have been better would have been for them to put the linens in place.
Now, is our experience unique in that we had the opportunity to sleep on a mattress that we happened to love? Absolutely, and I don’t discount that luck. Would we have been willing to part with the money without having that weekend? It’s hard to say, but the bed does have a 120-day comfort guarantee.
Sweet dreams!
February 10,
2016 by in Business Strategy, Industry
Consumers desire for eco-friendly home furnishings is trending upward, but marketing the green tale needs to grow.
The sustainable furnishings segment continues to make strides, and as headlines scream of flammable chemicals and other things hiding in furniture, consumers are turning an interested eye toward more eco-friendly goods.
The industry has closed the books on 2015 that brought with it changes in regulations in formaldehyde and flammability issues. The headlines of sofas that burst into flames and harmful chemicals hiding in chest of drawers can be downright scary.
Because of that, consumers are looking for a way to make their homes healthier, and a big part of that can be found from the furniture they buy to furnish those homes. Throw in the climate change debate, and sales of sustainable goods should be poised to take off.
The latest Green Home Furnishings Study showed that consumers are concerned about environmental issues like pollutants in the waste stream, deforestation and depletion of natural resources. Consumers’ attitudes on sustainability are outlined in Table 1.
While attitudes toward sustainability are very real and valid, they aren’t strong enough to override price considerations, style requirements, discounts and other purchasing concerns when it comes buying sustainably made furniture.
“Good for the environment” landed in the No. 9 position—last place—behind other considerations consumers take into account when buying home furnishings.
The survey was conducted by Impact Consulting Services, parent company of Home Furnishings Business, last year. The survey included a national sample of 500 consumers and delved into the perceptions consumers hold about eco-friendly furniture, impressions about price and just how much—or not—they are aware of what exists in sustainable furniture.
The green home furnishings category seems to be suffering from lack of marketing and advertising to consumers on any large-scale basis. From the survey, about 45 percent of the surveyed consumers indicate they had not bought green home furnishings because they weren’t aware any were available. (See Table 3.) In addition to that, only 9 percent of those surveyed had bought furniture that was considered green or earth-friendly.
Advertising and marketing are key to educating consumers that such home furnishings are available and where they are sold. Some of the responsibility falls to retailers selling the goods, and some of it falls squarely with manufacturers who are supplying the environmentally friendly furniture.
Just like all marketing, advertising green home furnishings requires a sustained campaign to sell the concept. While such advertising comes across in a number of consumer shelter magazines, there’s no consistent message being pushed.
Telling a green story can be fun, touching and can often capture the consumer’s eye.
According to a recent study by Nielsen, sustainability can good for the bottom line. The research firm noted that companies with a commitment to sustainability have grown more than 4 percent globally compared to those with no such commitment who have posted a 1 percent growth.
The survey, which included 30,000 consumers in 60 countries, showed that onsumers are keen on being responsible citizens, and look for the same from the companies from whom they buy.
Carol Gstalder, a senior vice president with Nielsen said consumer brands that haven’t yet embraced sustainability are at risk.
“Social responsibility is a critical part of proactive reputation management,” she said. “And companies with strong reputations outperform others when it come to attracting top talent, investors, community partners and most of all, consumers.”
A note. Consumers are mixed in how they assess a brand’s commitment to sustainability, according to the Nielsen survey. For some, an organic label is most important; while others are looking for brands that pitch a reduction in carbon footprint. Others look for companies that associate with reputable non-profits to give back to their communities.
It’s definitely not a one-size-fits-all scenario.
Overall, Nielsen reports the market for sustainable goods is expanding. Companies willing to listen and act, will see bottom line growth from additional revenue.
There’s no lack of knowledge on the part of home furnishings consumers when it comes to familiarity of green options and terms associated with them. Energy Star rating—more in line with appliances—remains at the top of the list with more than 70 percent of consumers saying they were familiar with the term.
Why?
Well, simply put, appliance retailers, like hh Gregg, Lowe’s, The Home Depot and the myriad of independent dealers, along with the manufacturers, often tout Energy Star ratings in their advertising. The more they hear it the more it sinks in with consumers.
Terms more in line with furniture speak, like recycled content, reclaimed wood and organic fabrics, were familiar to at least 38 percent of the surveyed consumers.
The conversation is ready for the starting; those who interact with the consumer must have the vernacular and the know-how to subtly educate.
Sticker Shock
If all things were close to being equal—style, function and price—consumers would be mostly interested in eco-friendly home furnishings. Nearly 74 percent (73.8 percent) would be somewhat interested, possibly and definitely interested in buying green home furnishings if they were priced about equal to other products. Table 5 breaks down how the consumer respondents view green home furnishings
Consumers have a perception that environmentally friendly home furnishings cost an exorbitant amount more than those not dubbed eco-friendly could be hindering sales of the goods.
While it may be a misperception on the consumer’s part, it’s a hurdle that needs to be cleared to boost sales in the category.
More than 42 percent of consumers they would pay nothing more for certified green home furnishings. Only 29 percent said they’d pay up to 5 percent more for such certification. Fewer than 2 percent of the consumers said they’d pay more than 20 percent for a green certification on home furnishings.
Third-party certifications of FSC-certified wood can add between 10 percent and 15 percent to the price of a chest of drawers.
The Nielsen study indicates the same hesitancy on the part of consumers to dig deeper in their wallets to buy green, but there’s a glimmer of hope.
“The hierarchy among drivers of consumer loyalty and brand performance is changing,” said Grace Farraj, senior vice president of public development and sustainability for Nielsen. “Commitment to social and environmental responsibility is surpassing some of the more traditional influences for many consumers. Brands that fail to take this into account will likely fall behind.”
Interestingly, the Nielsen study indicates price pressures, too.
The company points out a significant gap between the percentage of consumers who want more eco-friendly products (26 percent) and those who report having purchased them (10 percent).
Nielsen probed further asking consumers about key purchasing drivers and what prompted them to buy. The company provided a list of factors ranging from the amount of trust they held in a brand to the impact of a television commercial.
The No. 1 driver—62 percent or nearly two-thirds—was whether or not the product was made by a brand or company trusted by the consumer. Another 45 percent said a company’s commitment to the environment could sway product purchase decision.
According to Nielsen, 65 percent of total sales in 2014 measured globally were generated by brands whose marketing conveyed commitment to social or environmental values.
Gstalder said the shifts indicate the opportunity for companies that have cultivated a high level of trust to introduce sustainable products into the market.
“On the flip said, large global consumer brands that ignore sustainability increase reputational and business risk,” she said. “This may give competitors of all sizes, the opportunity to build trust with the predominately young, socially conscious consumer looking for products that align with their values.”
While pricing pressures are real, consumers show some signs of changing their tune and their willingness to pay a big more is trending upward.
In 2013, the research firm said half of consumers were willing to pay extra for products from companies with a positive social and environmental impact. In 2014, 55 percent said they’d pay more, and most recently, that number had jumped to 66 percent.
Age Matters
All companies are intrigued by the Millennial generation, and it should come as no surprise that this consumer segment is ready, willing and able to buy into the eco-friendly home furnishings market.
Coming of age during a time when recycling is the way, the truth and the light, nearly three-fourths of these consumers are willing to pay extra for sustainable offerings. That’s up from half during last year’s Nielsen study.
Coming on their heels, Generation Z—the under 20 set—are just as likely to pay more for goods that are sustainable. Seventy-two percent of this age group said they had no problem anteing up the extra cash for green products.
“Brands that establish a reputation for environmental stewardship among today’s youngest consumers have an opportunity to not only grow market share, but build loyalty among the power-spending Millennials of tomorrow, too,” Farraj said.
Don’t leave the Boomers out of the picture, Farraj cautions. More than half—51 percent—of Baby Boomers are willing to pay extra. That’s an increase of 7 percent over last year’s report, and Boomers remain a viable market for the next decade.
Forward Motion
Overall, the industry is making progress, although, according to the survey, it’s slow and tedious when it comes to consumer awareness and acceptance of green home furnishings. Retailers and others believe it’s imperative that sales associates who interact with consumers receive training to better share the sustainability side of the business. Another key point: Marketing teams need to improve point of sale materials to better share the sustainability story of product displayed in retail showrooms.
The Sustainable Furnishings Council and the American Home Furnishings Association are key organizations that continue to drive the message home that sustainably crafted furniture free from harmful chemicals makes for healthier, safer homes.
The SFC is celebrating its 10th anniversary this year, and continues to make strides in awareness to move the needle within the industry and directly to consumers.
Last month in its state of green webinar, Susan Inglis, executive director, shared an update on where the council has made an impact. Changing regulations were a big deal for the home furnishings industry last year—think formaldehyde emissions, flammability changes—and many of those things will remain on the front burner moving through 2016.
“Ten years ago, we were move focused on climate change and the impact our industry had on it,” Inglis said. “Now, we’re seeing more focus on health and healthier living environments.”
Steve Freeman, president of SFC and vendor resource manager with retailer Room and Board, said the council remains committed to its ongoing work and remains vigilant in educating its members on changes that will impact them.
On the marketing front, the SFC offers its members use of its logo and other collateral to help tell the green story in any advertising be it in print or online.
200North
The Frisco panel bed with attached nightstands is crafted of quick-growing bamboo. Suggested retail is $5,854.
Copeland Furniture
The Weston bedroom collection is made from sustainably harvested hardwoods and is available in a number of Greenguard Certified finishes for low chemical emissions.
Durham Furniture
Sustainably harvested wood is used to create the Front Street bedroom collection. Suggested retail as shown is $8,560.
Gat Creek
The Brancusi storage sleigh bed is built from locally and sustainably sourced Appalachian Cherry in a factory located in the center of the Appalachian Forest. Suggested retail for queen bed is $2,950.
Greenington Fine Bamboo Furniture
Inspired by mid-century design, the Nova Antares occasional collection is made from solid bamboo.
Lee Inds.
The 1391 chair features environmentally friendly soy-based seat cushions. Suggested retail $2,468.
Loloi
The Giselle collection is hand-knotted entirely of refurbished sari silks from India. Suggested retail is $1,949 for an 8x10 rug.
Norwalk
The Sophia sofa, crafted in the U.S., is available in 800 fabrics, 125 leathers and 30 wood finishes. Retail pricing begins at $1,899.
Phillps Collection
The Petrified Mosaic Drum stools are made of thin slices of petrified wood tiled together.
Rowe
The Nantucket sofa is built with a number eco-friendly elements and is built in a factory that recycles every piece of raw materials. Suggested retail is $1,299.
Vanguard Furniture
The Sierra cocktail table is made from reclaimed wood.
Chloe & Olive
The Cinco de Mayo pillows are handmade by local seamstresses in California. The pillow inserts are sustainably made from post consumer recycled plastic bottles. Suggested retail is $72.50.
Jaipur
The Baza-Subra by designer Nikki Chu offers a new take on sisal with texture and pattern. Suggested retail is $1,104 for an 8x10 rug.
February 10,
2016 by in Business Strategy, Industry
On average, 10,000 people turn 65 years old each day. By 2030, one in five people will be 65 and over. Now facing decisions on where and how to spend the aging years, a majority of early Baby Boomers want to stay in their homes. This could become a necessity as the growth in numbers outpaces the traditional resources available to seniors.
Due to the approaching influx into the 65-and-over age group, an entire specialized construction industry has evolved to modify and retrofit homes for safety and convenience. The term, aging in place, has become widespread, spawning an interior design industry focused entirely on remodel projects geared to the aging—including furniture, flooring and lighting, while maintaining the beauty of the home.
By the Numbers
Senior homeowners remain key to the U.S. economy with Baby Boomers now entering their retirement years.
In the last 10 years, the population in the 65-and-over group has grown almost 30 percent and many have adopted the aging in place philosophy.
As shown in Table A, the number of householders age 65 and over is expected to grow to 56 million in 2020. From 2015 to 2030, this age group should increase by more than 52 percent—jumping to 73 million. At a projected 84 million by 2050, 20 percent of the population will be 65 and over.
The Center for Disease Control defines aging in place as “the ability to live in one’s own home and community safely, independently, and comfortably, regardless of age, income, or ability level.”
According to a 2014 survey by the American Association of Retired Persons (AARP) depicted in Table B, nearly 90 percent of seniors want to stay in their own homes as they age.
When asked if they preferred to stay in their homes even while needing day-to-day assistance or ongoing healthcare during retirement, 82 percent said yes. Only 9 percent actually prefer to move to a retirement or assisted living community, and 4 percent opt for moving to a relative’s home.
Results of the U.S. Aging Survey by the National Council on Aging show 58 percent of householders over the age of 60 have not changed residences in more than 20 years. Seventy-five percent say they intend to live in their current home for the rest of their lives and many have already began home improvements. Thirty-four percent have made bathroom upgrades, and another 28 percent have improved lighting. Seniors are methodically using their money to ensure independence and safety in their retirement years.
The Economics
Seniors today are more active and affluent than any generation before them. Of the 46 million Baby Boomers, about 25 percent of them have annual incomes of $100,000 or more and a net worth of $400,000 or more. Currently, households over 65 have an average net worth almost double that of younger households.
According to The Demand Institute, 40 percent of households in the U.S. are headed by someone between the ages of 50 and 69, and this group holds 54 percent of all household wealth. As this group ages into retirement, more money will go toward the home improvement industry.
Home Improvement Stats
Both the National Association of Home Builders (NAHB) and the Joint Center for Housing Statistics of Harvard University (JCHS) have done extensive research that show a rapidly increasing percentage of the remodeling industry is from seniors already or planning to age in place. The NAHB predicts the aging in place remodeling market to be between $20 billion and $25 billion—about 10 percent of the $214 billion home improvement industry.
As shown in Table D, the JCHS has data from 2003 to 2013 depicting a current shift in households over 55 accounting for an increasing amount of home improvement expenditures. The 65-plus age group jumped 67.1 percent in home improvement expenditures over 10 years, while ages 55 to 64 grew by 33.9 percent—together accounting for over 47 percent of total home improvement expenditures in 2013. Ages 35 to 44 and 45 to 54, traditionally the bread and butter of the remodeling industry, collectively dropped their share of total home improvement expenditures by 37.8 percent from 2003 to 2013 partly due to recessionary factors and partly due to their lower population numbers.
Furniture Industry Impact
As Baby Boomers pour into their senior years, design and remodeling firms specializing in aging in place are proliferating to meet the demands that seniors require to stay in their homes and maintain independence. More importantly for the furniture industry, interior design firms are being born from this remodeling industry to focus on interior design, including furniture, flooring, and lighting. A new interior certification for aging in place is now available. The goal of these firms is to spec furniture for both safety and maintain the consumer’s need for fashionable design. A review of aging in place design trends shows more specific product focus.
Tough Sell
Having spent decades watching the evolution of advertising on television, seniors can be a tough crowd when it comes to marketing. They have spent most of a lifetime buying and replacing furniture. For the aging in place consumer, marketing by furniture companies and retailers must obviously be geared to both safety and style. But while these seniors are interested in products that enhance their lives, research shows they are not interested in being singled out in elderly advertising but rather want to be approached as experienced and savvy consumers.
February 10,
2016 by in Business Strategy, Industry
This is the one-year anniversary article for the Coach’s Corner, and it has been an exciting and eventful year for our nation, its economy and our customers.
Obviously with a Presidential election coming up, 2016 will be an interesting and extremely critical year for our future. As you probably know, it is the goal of this magazine to help our readers navigate treacherous waters by providing critical information and helping develop successful business.
In life and in business, the adage it’s not what happens to you that matters most, it is how you handle it rings true. Those who are best prepared, handle whatever comes at them better than those flying by the seat of their pants. The prepared ones who operate from a plan based on solid statistics, intelligent analysis, and a realistic vision for their company soar.
Most big time sports teams have an offseason to reflect on last year’s happenings. Owners evaluate players, coaches and management based on the season’s results. They study game planning and personnel moves to determine how those processes dealt with the challenges of the last season. Once done, they create a plan and set goals for positive change within the organization to drive performance improvement. Year-in, year-out, the winningest teams are the ones that do the best job performing this process.
In the furniture business, we do not have the luxury of an offseason in which to reflect and plan, but that does not mean the process is any less important. It is every bit as important for us as it is for sports teams, since historically the most successful businesses are the best ones at reflecting, correcting and planning. They are always the most prepared for whatever the economy, consumers and their competitors throw at them.
Therefore, sometime in the first few months of each year, after the hustle, bustle and distractions of the holiday season, owners, managers and staff should look back at the results of last year. Analyze the good and the bad and how it happened. Obviously, you want to replicate things that netted a positive result and replace those that did not. Most of you probably sit down with internal teams to review 2015 advertising and merchandising programs. As a result, you will make decisions to adjust, change direction or stay the course, then set goals for those areas of your business.
Most of you probably also take the time to review your sales performance and set goals for performance improvement in that critical area. But is that enough? A goal is not a plan; it is the result you want the proper execution of your plan to deliver. Many times we want growth and set targets for it without charting a new path to get to them. Albert Einstein is credited with saying: “Insanity is doing the same thing over and over again and expecting different results.” Therefore, in order to get the desired improvement in results, changes are necessary.
For many people, change can be very difficult. It is harder in business since for most organizations even small adjustments to processes and behaviors are hugely uncomfortable, if not impossible. It behooves us to be careful as we pick and choose changes we need and create the plan to make them happen.
My hope here is to help with that process. Each month for the past year I have presented an opportunity for positive change that will impact the sales side of the business. Each column targeted an area or process that many stores can improve and provided a brief overview of what could be done to make it happen. Looking back at our last 12 issues will give you a dozen ideas that could help you grow your business. Therefore, this dirty dozen is a great starting point for any planning process.
To get started, here is a listing of each month’s offering, along with a summary and recommendations about it to help you decide if it is something that should be addressed in your store. I recommend reviewing those that look interesting and select at least three to include in your improvement plan for 2016. They are presented in the order they were published, but that might not be how you need to approach them. As an example, the April Issue featured “Game Plan for a Winning Season”, which could be a great place to start.
1. February 2015 – “Missed Opportunities” – How well do you understand and manage the number of opportunities each of your staff members takes? Most sales people will take all the ups you can throw at them, but where is each one’s “point of diminishing returns”? How many potential clients are not getting properly served during your busy times? Fix this and you will find lost sales.
2. March 2015 – “Team Coach or Waterboy?” – Is your sales manager really leading your sales effort or is he/she mostly a support person for them, handling service issues and pricing questions? Is your manager coaching in the game or merely reviewing the results with the staff? Make sure your sales manager understands their role of driving sales improvement and is performing it consistently.
3. April 2015 – “Game Plan for a Winning Season” – Does your store have an organized way to manage its sales staff and their goals? Do your managers discuss performance with the team members as part of a monthly planning process? Do they communicate progress towards goals weekly or only at the end of the month? Plan to win and coach your plan.
4. May 2015 – “Recruit a Dream Team” – Having the right number and quality of players on your team is absolutely critical in both sports and business, do you? How do you know what you need and where do you get them? One of our industry’s biggest challenges.
5. June 2015 – “Sketch to Build Sales” – There is no better tool for building sales and satisfying customers than the simple sketch. Most big writers sketch and none of the weaker ones waste their time doing it – perhaps there is a connection?
6. July 2015 — “The Art of Teaching, Training and Coaching” — Three critical elements of leading a team. Do you understand them and are you maximizing your efforts in each one?
7. August 2015 – “Selling in 3D” — Selling in a fashion or lifestyle driven business is very different from traditional two-dimensional sales. Features and benefits are critical, but does your staff understand that the biggest benefit their products provide to their client is happiness in the home?
8. September 2015 – “Online Shopper Inquiries” – Do you struggle to get staff members to answer these important requests for information? Create a process and an Internet response team that maximizes these opportunities by getting them into the store and developing clients from inquirers.
9. October 2015 - “Goal Setting to Drive Performance” – Goals are one of the most critical parts of sales management and coaching, yet many do not value them. Create value in your goal system, set up a communications process to drive achievement of them and you will develop loyal and happy team that maximizes sales.
10. November 2015 – “The Consumer Evolution” – The consumer has changed dramatically over the past 20 years. Obviously the internet has driven a great deal of this, but there are other key factors that have altered how people shop for their homes. Does your staff understand them and use them to please more customers?
11. December 2015 – “Keen Observations” — Observation is the most useful and important tool that a sales manager has to develop a top performing team. If they don’t know what is happening on the floor, how can they fix it? Is your manager using it to its fullest?
12. January 2016 – “Blueprint for Success” – Product knowledge and display are absolutely critical elements in the selling process for your staff. Do they have all the information they need to maximize their sales? When, who and how are new products being introduced to them? This is a great way to increase sales without spending a dime — improve your team’s communication about why something is on the floor and who would buy it.
If you need any further advice or help with your plan or these projects, please feel free to contact me at: tomzollar@impactconsultingservices.com
You can find the Home Furnishing Business archive of past issues at:
http://furniturecore.com/Default.aspx?tabid=676
February 10,
2016 by in Business Strategy, Industry
As today’s world gets busier and busier, families are finding their way back to the dinner table to reconnect at the end of the day and share experiences over a warm meal.
The trend toward dining at home could mean a boost to sales of both casual and formal dining suites.
The top-selling trends on the next few pages show there’s a slight leaning toward the casual genre, but that’s not to say everything selling revolves around the relaxed cottage looks. Instead, there’s a trend toward a somewhat relaxed air in the formal shapes and designs, and contemporary styles are leading the pack. Good news for retailers with a strong selection of contemporary dining looks.
According to the latest Home Furnishings Business survey of consumers who have shopped for dining furniture in the last 18 months, 46.8 percent of consumers shopping for casual dining and 60 percent of those shopping for formal dining cited contemporary as their genre of choice. Traditional styles were seated in second place for both consumer groups—27.7 percent of the casual dining consumers, and 20 percent of those shopping for formal dining.
Nearly 84 percent of surveyed consumers said they dine most frequently in a casual dining area. Of that segment, 61.7 percent said they have an area in the kitchen for table and chairs, and another 36.2 percent said they have an area outside their kitchen designed for casual dining.
For the consumers’ most recent shopping experience, 75.8 percent were shopping for casual dining furniture while the remaining 24.2 percent were in the market for formal dining.
Today’s dining table—formal or casual—remains a hub of activities in addition to eating. Top at the list is sitting around the table and talking. More than 29 percent of surveyed consumers said the table is the place for reconnecting. Other activities include watching television (18.5 percent), paying bills (15.3 percent), doing homework (14.6 percent), working on hobbies (14.6 percent), and catching up on work brought home from the office (7.6 percent).
A Casual Affair
Of those consumers shopping for casual dining styles, 48.8 percent bought a table and 40 percent also bought chairs within the last 18 months. As noted, contemporary looks reigned with the consumers with 46.8 percent opted for contemporary styles in their casual dining, while 27.7 percent opted for a traditional look. The remaining purchases were sprinkled among European country, rustic country, mission and cottage styles.
According to dining suppliers who submitted their top-selling dining groups, the industry offerings are inline with consumer trends and tastes. Consumers are still the prowl for casual, more livable dining options with little to no high gloss finishes for their casual dining areas. More than 54 percent say they prefer a medium gloss and 40 percent prefer a flat, dry finish, which has definitely been a popular introduction at recent furniture Markets.
Drilling down into wood species, cherry remains at the top of the list with more than 31 percent citing it as their preference. Mahogany (25.7 percent) and oak (20 percent) followed in second and third.
When it comes to pricing, consumers vary on their price expectations in the casual dining category. Nearly half—46.8 percent—say they’d expect to pay $599 or less for a table and four chairs. Another 27.7 percent said they’d pay between $600 and $999 for a five-piece set, and a fourth (25.5 percent) said they would pay $1,000 or more for a group.
Black Tie Formal
When looking at the formal dining segment, consumers 81 percent of the consumers who purchased the category bought a table and chairs.
Not a surprise, pricing expectations for formal dining were above those of casual dining. Slightly more than 46 percent of surveyed consumers said they would pay between $1,500 and $3,999 for a table and six side chairs. On the lower end, 40 percent said they would expect to pay less than $1,500 for a seven-piece suite. At the high end, 6.7 percent would expect to pay more than $12,000 for a table and six chairs, and another 6.7 percent would pay between $4,000 and $11,999 for the group.
Style preferences for formal dining room furniture were distinctly contemporary with 60 percent reporting their dining room fell into that style category. An even 20 percent—the second largest group—said their dining rooms were traditional in style. European country, rustic country and transitional each garnered 6.7 percent from the surveyed consumers.
The dry, flat finishes that have become so prominent of late are gaining momentum with consumers. More than 45 percent (45.5 percent) of consumers prefer a flat or low gloss finish for their formal dining table. Medium gloss and high gloss were each preferred by 27.3 percent of surveyed consumers.
Mahogany and oak are the two preferred wood species for formal dining with 36.4 percent selecting mahogany as their top choice, and 36.4 percent opting for oak. Another 27.3 percent said they’d prefer a cherry formal dining group.
Want More?
A more in-depth report on the dining category is available for purchase via e-mail to LauraMcHan@ImpactConsultingServices.com or by calling (404) 961-3734.
SUPPLIERS SAY
Trisha’s Table from Klaussner Furniture
Part of the Trisha Yearwood Home collection, the trestle table extends from 82 inches to 102 inches to seat eight comfortably. Comfort is key and the relaxed coffee finish features heavy distressing and burnishing to simulate years of use. Suggested retail for table and 4 chairs, $1,499.
Charleston Regency’s East Battery Buffet by Stanley
The East Battery buffet captures the essential informal elegance of the Charleston Regency collection. Its scale, silhouette and utility is modern while the astragal and bracelet patterned moldings and carvings portray European influence. Customers favor a contrasting English walnut top in a clear matte finish over a lightly striated gray paint base. Suggested retail is $4,107.
Somerton Dwelling’s Counter-Height Novara
Sleek, contemporary lines shine in walnut veneers and Zebrano borders in a charcoal finish. The Massimo small-scale table features a curved triangle shaped top with bowed sides. Suggested retail for table and four chairs is $999. Counter-height bench, $259.
Palisade from Hooker Furniture
A transitional collection edging toward contemporary, according to Pat Watson, vice president of merchandising. The group is crafted of figured sycamore and figured walnut veneers. “The contemporary/transitional styling paired with the sophistication and natural, organic beauty of the figured veneers has created a metropolitan vibe that is resonating at retail. Suggested retail for a rectangular table with two arm chairs and six side chairs is $4,999.
Bennett by 200North
The solid-top contemporary dining table screams today. Dealers appreciate something adventurous from an American manufacturer, said Charles Curry, sales manager. The table’s legs seem to change, depending on the angle from which they’re viewed. Available in soft maple, cherry, hard maple, bamboo and walnut. Pictured in cherry with a suggested retail of $2,559.
Valencia Wine Cabinet from A.R.T. Furniture
Mirrors, metal and wood combine for a stunning mixed media on the wine cabinet. In addition to the mixed media, the cabinet offers a wealth of function. “It’s a perfect blend of romantic, continental inspired design with functionality that suits the wine lover’s lifestyle,” said Adam Tilly, vice president of merchandising. “It’s the kind of item that displays well in pairs.” Suggested retail is $1,999.
Elouise by Four Hands
A high-backed chair with subtle wings adds elegance to the head of any table. Elouise offers versatility and the ability to complement a variety of room styles. Soft upholstery is accented by shallow tufting, antiqued brass nailheads, and weathered wood legs.
Suggested retail is $650.
Thatcher from Legacy Classic
The combination of style and quality give the collection a leg up with consumers. The scale of the suite works in both casual or larger dining settings. The table extends to 96 inches, allowing seating for up to eight. Suggested retail is $2,399 for table, four side chairs and two arm chairs.
McGregor from Standard Furniture
Farmhouse turnings and a midnight brown finish top off the casual styling this dining suite. The group offers an abundance of options, including a 90-inch rectangle leg table, a counter-height table, wine storage sideboard, and more. Upholstered dining chairs feature a neutral linen-like fabric and nickel nail-head trim.
Suggested retail $749, for rectangle table and four side chairs.
Simply Amish’s Loft
Versatility gives the table an advantage. It’s a sofa table. It’s a dining table. Available in eight woods, the Loft leg sofa/dining table features a 12-inch wide stationary butterfly leaf that extends to a 54-inch x 30-inch dining table. Charles Curry says “Customers love the functionality, and dealers enjoy surprising their customers at how easy this table converts back and forth.” Shown in cherry, suggested retail is $2,028.
Cottage by Cresent Fine Furniture
Casual, cottage-inspired and crafted in Appalachian poplar that features uneven planking and a rustic, distressed texture. Available with two table options—a 54-inch round with an 18-inch leaf and a 78-inch table with a 22-inch self-storing leaf—the collection features bead board accents on the buffet for a classic feel.
Proximity by Universal Furniture
Detailed inlays on the table top draw consumers to the Proximity table. Combined with the casual feel of natural linen upholstered chairs trimmed with gimp welt and tack trim provide a relaxed vibe consumers crave. Suggested retail is $899-$999.