November 2017 Issue
Excuse any confusion which may be detected in this letter.
The home furnishings industry is in a transition with total growth forecasted to be 3.4% this year, which would be an above average performance for all retail sectors.
As Baby Boomers (ages 52 to 70 in 2016) are aging out of prime furniture buying years, Generation X households (ages 36 to 51) who are more affluent than ever have picked up the reigns with robust consumer spending – despite a much smaller population size.
Buoyed by innovative finish treatments, improved Asian sourcing models, and successful design-driven collections and licensing programs, bedroom furniture appears poised for continued growth across the pricing spectrum.
In last month’s Coach’s Corner column, we discussed the fact that almost half of the home furnishing customers in 2016, did business with distribution channels that do not have sales people in the traditional sense.
Having just steered International Market Centers through its second private equity transaction in six years, one could forgive CEO Bob Maricich if he wanted to kick back and spend more time at his vacation home in Montana.
Published 12 times a year, Home Furnishings Business (HFB) is the only furniture industry trade publication dedicated to covering the business of furniture retail today. Home Furnishings Business is available in print or digital format and offers valuable strategies and intelligence for retailers who want to conduct a successful business today and tomorrow.