Daily News Archive
Brought to you by Home Furnishings Business
June 5,
2012 by in UnCategorized 
By Home Furnishings Business in Mattresses on June 6, 2012
The state of Connecticut has approved a $2.5 million loan to support latex mattress vendor Latex International's expansion.
The approval came during a meeting of the Connecticut State Bond Commission. As part of the terms of the loan, the Shelton, Conn.-based company will retain 150 jobs and create up to 30 new jobs by 2015.
We want to thank the State of Connecticut for supporting Latex International and investing in our brand, said Latex International President and CEO David Fisher. We have been a partner in this community for over 35 years and are committed to keeping jobs and fostering growth in Shelton. This loan provides additional support for the continued expansion of our latex bedding business.
Fisher said the additional financial resources will broaden the companys sales and marketing resources, expand in growing international markets, and invest in new products with the goal of expanding the overall latex category.
June 5,
2012 by in UnCategorized
By Home Furnishings Business in Internet on June 6, 2012
GE Capital Retail Finance's annual major purchase shopper study indicates 61 percent of consumers start their shopping process online.
Another finding: Consumers spend an average of 76 days in the research process when considering a major purchase.
The survey and interviews, conducted by Rothstein Tauber Inc., a marketing research company based in Stamford, Conn., explored the shopping habits of more than 3,000 consumers nationwide who were in the market for major items such as appliances, electronics, floor covering, home furnishings, home improvements, jewelry, and lawn and garden equipment. Nearly 2,000 of the consumers were GE Capital Retail Bank account holders, and one-third of respondents were random shoppers. All had recently made purchases of $500 or more. Portions of the Major Purchase Shopper Study will be updated annually.
The findings indicate that consumers take a significant amount of time to plan and evaluate major purchases, with 61 percent starting with online research, said Toni White, chief marketing officer of GE Capitals Retail Finance business. This major purchase study also validates that financing continues to play a key role in helping consumers make their buying decisions across every category.
The results provide a clearer picture of the process consumers go through when considering a major purchase. Depending on the category, the length of time spent researching the purchase took between 38 and 115 days--more than two months on average. While the data represents the average major purchase experience, it is inclusive of shoppers who had a short decision cycle due to an urgent need to replace an item. The study also reveals the way in which consumers conducted product research and the role of payment options in their decision.
Among the findings:
* More than 60 percent of consumers begin product research online, but 89 percent made their purchase at a brick-and-mortar store.
* Consumers, on average, visited two-to-three unique online retailers and two-to-three unique brick-and-mortar stores before making their purchase.
* Nearly 70 percent of shoppers said their choice of payment options was made before they entered the store to make their purchase.
* Six out of 10 GECRB cardholders said the availability of financing drove their final choice of retailer.
The insights from this research can help our merchants, both big and small, build better businesses, White said. Based on these findings, merchants can re-evaluate their sales training and marketing to better attract consumers and help them make informed choices.
June 5,
2012 by in UnCategorized
By Home Furnishings Business in Special Events on June 6, 2012
The Tri-State Home Furnishings Association has named furniture industry analyst Jerry Epperson its 2012 "Person of the Year."
The group will honor Epperson, a founding partner of Mann, Armistead & Epperson in Richmond, Va., at the TSHFA Awards Dinner held on Tuesday evening, Nov. 13, at Crowne Plaza in Philadelphia.
Other presentations include member-voted Retailer and Representative of the Year and Congeniality awards. Committee chosen awards are presented to Young Representative and Retailer, Retail Design and Advertising--all for exceptional work in respective categories; and Senior Service Award(s) for individuals longevity in industry and service to the association and/or industry. Details on nominees and committee chosen winners will be announced as time grows closer.
For further information on attending the awards dinner, contact Cathy Reed at 215.646.5831 or by e-mail.
Tri-State HFA encompasses eastern Pennsylvania, southern New Jersey and Delaware with members in most segments of the home furnishings industry.
June 5,
2012 by in UnCategorized
By Home Furnishings Business in Delivery on June 6, 2012
Logistics provider Globe Express Services has added two corporate locations in Bangladesh: Dhaka, the countrys capital, and Chittagong, its busiest seaport.
GES currently maintains 58 corporate offices worldwide, surpassing its goal of reaching 50 by the start of 2012.
Situated in a delta of rivers that leads to the Bay of Bengal, Bangladesh is home to an emerging economy and a growing market of 158 million people. Thanks to foreign investment and a recognized need to prioritize industrial development, the economy of Bangladesh has grown steadily since the early 1990s, at an average annual rate of 5 to 6 percent, enabling it to endure even the 2008-2009 global financial crisis.
To promote foreign investment in the country, the government has established eight Export Processing Zones, as well as a proposed Special Economic Zone. Today, the countrys top export commodities include apparel, knitwear, agricultural products, frozen food (fish & seafood), raw jute, jute goods, handicrafts, home and specialized textiles, leather goods and footwear, and various nontraditional items. Its top export partners include the United States (22.1 percent in 2010), Germany (14.1 percent), the United Kingdom (8.5 percent), France (6.8 percent) and the Netherlands (6.1 percent).
In characterizing the new openings, Georges Mejaes, president-Asia Pacific & Indian subcontinent, said: Our new offices in Bangladesh provides a clear advantage to the growing number of clients who do business there. In addition to full-service ocean and air freight, we offer licensed Customs brokerage services, ensuring a greater level of expertise, attention to detail, and shipment control.
GES delivers customized logistics solutions to a diverse global client base doing business in Asia, the Middle East, Europe, the Americas and around the world.
June 5,
2012 by in UnCategorized
By Home Furnishings Business in Green on June 6, 2012
The Sustainable Furnishings Council will offer a free "Sustainability Essentials" webinar at noon (EDT), Monday, June 18.
This one-hour webinar provides a grounding in the environmental issues related to home furnishings, including the factual basis for climate change, problems with indoor air quality, toxic waste, and water conservation. Source documents are public records such as the U.N. IPCC 4th Assessment Report and the U.S. EPA, translated from technical jargon into easily understood concepts with common references all explicitly linked to the home furnishings industry.
Content also includes a synopsis of GREENleaders, the industry first certified sustainability training course. The webinar is intended to give participants useful information they can begin using in their business immediately as well as answer questions about getting the most out of SFC membership and participating in the full exam program to receive credentials as a local expert in green furnishings.
To reserve a seat at the webinar, follow this link.