Daily News Archive
Brought to you by Home Furnishings Business
July 9,
2012 by in UnCategorized 
By Home Furnishings Business in economic news on July 10, 2012
The Furniture Buying Index dropped four points this month to a reading of 70, negating the steady increase the index has experienced in recent months.
According to America's Research Group, the company that compiles the index, the 70-point reading is now back to its February level.
"As more consumers worry about job security and making less money due to employers taking more out of their paychecks, consumers' interest in buying furniture has declined," said Britt Beemer, chairman of America's Research Group. "The economy continues to stagnate, and no one is sure where it will end."
Beemer said consumers who are worried about the future do not like to make major purchases like furniture.
The Furniture Buying Index is compiled each month by America's Research Group from interviews with 5,000 to 8,000 consumers across the country. In a typical month, 80 percent of the consumers interviewed can name a specific furniture item they intend to buy. The Index's mark signifies what percent of the benchmark 80 percent have a particular item in mind.
July 9,
2012 by in UnCategorized
By Home Furnishings Business in economic news on July 10, 2012
Residential furniture shipments rose 3.84 percent in 2011, according to a summary of business from High Point accounting and consulting firm Smith Leonard.
Shipments slowed compared with 2010, when they were 5.95 percent higher than shipments in 2009, which were down 15.79 percent from 2008. 2008 shipments were down 11.38 percent from 2007.
Last year's 3.84 percent increase was slightly lower than the monthly statistics reported in Smith Leonard's Furniture Insights(http://www.smithleonardcpas.com/news-and-events/newsletters/furniture-insights/), which has some different participants. (Insights reported a 5 percent increase in shipments for 2011 versus 2010 and a 7 percent increase in 2010 compared to 2009.)
The overall cumulative decline in shipments since 2005 was 32 percent through 2009, prior to the 2010 increase according to our surveys.
The upholstery group reported an increase in shipments of 6.43 percent after an increase of 5.7 percent in 2010. Case goods participants shipments declined 1.32 percent in 2011 after a 7.18 percent increase in 2010.
According to the monthly survey, shipments in 2011 were up in every month compared with the same month of the prior year except for July when they were down 1 percent from July 2010. Also in 2010, shipments were up every month but November, when they were even with November 2009. This compared to decreases in every month in 2009 until December 2009 when there was a 3 percent increase. December 2009 was the first month since June of 2006 that the survey showed an increase in orders.
The trend has continued to show improvement in 2012 with new orders up 8 percent for the first three months. Shipments were up 11 percent for the first three months compared to 2011.
"Based on our conversations with various people in the industry, the results have been uneven through most of June, as we cannot seem to get a lot of traction," Smith Leonard Managing Partner Ken Smith wrote in the new report. "Business seems to pick up for a while, then fall off again, but this was the exact same thing we said last year at this time.
"The overall economy just cannot seem to get going. Gas prices have lowered but the employment picture does not seem to show much improvement (with few jobs being created), the European economy is shaky in some countries, the stock market gains (losses) have become very bumpy and the U.S. economy is not growing at a fast enough clip. These things, along with others, are keeping consumer confidence down after a few increases last year."
While housing results have improved, new construction is increasing and prices are stabilizing, Smith noted that foreclosures remain a problem, and mortgages are hard to get.
"A significant impact on furniture sales has been, not only the number of foreclosures, but also many home buyers, who are making payments, also obtained mortgages that are very expensive compared to monthly household income," he wrote. "Also, consumers are continuing to do all they can do to reduce debt. This is not leaving much disposable income to spend on furniture. Yet, recent government reports indicate that sales of furniture and home furnishings are picking up from poor results in the past few years.
"One good thing in the long run for furniture sales is that larger down payments, and tighter lending, will keep monthly payments at much more reasonable levels compared to monthly incomes. This should leave a bit more disposable income which can be used for furniture. It will take some time for this to work its way into the system, so we may not see much impact in the near term."
July 9,
2012 by in UnCategorized
By Home Furnishings Business in Las Vegas on July 10, 2012
Home furnishings women's leadership network Withit will take its WOW Awards to Las Vegas.
On the eve of winter Las Vegas Furniture Market, WithIt will honor exemplary home furnishings professionals and businesses during its newly scheduled WOW Awards, which are set for Sunday, Jan. 27, 2013, at World Market Center Las Vegas, an International Market Centers property.
A total of five awards will be bestowed, plus the Presidents Award.
WithIt is pleased to add new excitement to our acclaimed WOW Awards, said WithIt 2012 President Julia Rosien, SocialNorth.com. By moving the program to coincide with the Las Vegas Market, we recognize our associations growth in the Western region, as well as the opportunity to reach new audiences by aligning with a bustling international market.
World Market Center is pleased to host the 2013 WOW Awards, says Robert Maricich, chief executive officer of International Market Centers. Our leading campus is a fitting stage for honoring individuals who foster leadership development in all industry-related fields and at all career levels.
Previously, the WOW Awards winners were announced during a dinner and ceremony at WithIts annual professional conference. In lieu of a 2012 presentation, the annual education conference, to run August 14-16 in Raleigh, N.C, will offer Life is a Highway, a Las Vegas-themed networking reception, dinner and silent auction.
Both WithIt members and non-members can nominate an industry professional or business for the following awards.
* Legacy Award: For a woman of achievement who has made significant lifetime contributions to the home furnishings industry
* Mentoring Award: For an executive or organization that has fostered advocacy, development or promotion of women in their company
* Education Award: For an executive or company that has developed programs to educate associates, retailers or consumers about home furnishings
* Leadership Award: For a woman 40 or over who has demonstrated successful leadership in her company, in WithIt, and/or in the home furnishings industry.
* Future Leader Award: For a woman 40 or under who has demonstrated outstanding achievement and the potential to become an industry leader
The deadline for nominations is August 20. For more information, including the nomination form, visit withit.org.
July 9,
2012 by in UnCategorized
By Home Furnishings Business in Advertising on July 10, 2012
Wright Global Graphics will enhance its Wright Assist designer services by switching to virtual meetings via Design Wright Now, an on-line collaboration tool that allows the company to tap into its entire team of designers and service more clients in less time.
The design and concierge service will once again be available at the July 30-August 3 Las Vegas Furniture Market; but rather than bringing one graphic designer on-site, for the first time Wright will have its entire team of graphic designers in North Carolina on-call, ready to meet with clients virtually to create specialized campaigns in real time.
Using Design Wright Now, Wrights team of designers and account executives can arrange on-line strategy and design sessions with their clients at market and make immediate changes to the designs in real time during the session.
In addition to the designer, staffers are available to assist clients with installing signs, point-of-purchase materials, receiving deliveries, providing extra pillows or shams, and pressing or cleaning fabrics if needed.
We created the program to address a number of common emergencies clients face while on-site at a show and have helped multiple exhibitors with last minute needs, from recreating misplaced or misspelled signage to getting point-of-purchase materials on a bed, said Wright President and CEO Greg Wright. Contrary to expectations, the majority of our business actually occurs at the end of market as exhibitors think ahead about ways to tweak their programs and displays for the next show. Since the on-site design service has been so successful, we decided to bring our entire design team on-site, virtually, which allows us to service more customers and allows our clients to work with our designer from the comfort--and convenience--of their own showroom.
The company will provide the Wright Assist service again this market in space B-1062, from July 27 through the close of the market on August 3. It will be open each day 8 a.m.-6 p.m.; and after hours by special appointment.
July 9,
2012 by in UnCategorized
By Home Furnishings Business in Community/Charitable Support on July 10, 2012
Piedmont Furniture Club will hold its 26th annual golf tournament at Colonial Country Club in Thomasville, N.C.
This year the Piedmont Furniture Club, a local division of the Virginia/Carolinas Chapter of the International Home Furnishings Representatives Association, will honor Christine OConnor DesVergers, daughter of Madeline and Kevin OConnor of Samson Marketing, with a donation to Brenner Childrens Hospital to support pediatric oncology research. Christine was 31 and the mother of two small children when she was diagnosed with Stage IV breast cancer. In 2004 Team Christine was created to raise money for the Koman Foundations Race for the Cure. With 100-plus members they raised over $160,000. In 2011, at age 38, Christine lost her battle with cancer. This year the Piedmont Furniture Club is honoring Christine DesVergers for her courage and motivation to others during her struggle.
To receive more information on the upcoming Piedmont Furniture Club golf tournament, to become a sponsor, or to make a contribution to Brenner Childrens Hospital in honor of Christine DesVergers, please contact Jennifer Sova by e-mail or phone, 336.285.0194.