December 2015 Issue
Welcome to the fifth annual Home Furnishings Business Power 50 retail ranking. The ranking - our take on how furniture retailers should be ranked - takes into account retail sales volume, social engagement and market share and industry involvement. In an effort to continually improve, this year we made several changes in our methodology, especially in the social engagement component of the scoring. We have also eliminated the corporate entities from the individual retailers in the vertical manufacturers category.
My how times have changed. It wasn't too many years ago when consumers were clamoring for armoires or closed entertainment centers to house and hide televisions, DVD players and other entertainment electronics. Flip the next few pages, and you'll find an overwhelming number of consoles jam packed with features to accommodate televisions and all the accessories of today's well-furnished home theaters.
Over the past five years the housing industry has seen the number of renters in all ages and income levels increase. While the housing market crash was a huge catalyst with staggering foreclosures and short sales, many potential homebuyers are continuing to forgo purchasing and are turning to rentals. Who are those opting to rent today compared to five years ago?
The furniture industry is on track for a 5.5 percent increase this year, and all signs currently point to a h3 2016, too. Following years of an uneven recovery from the recession, the furniture industry has picked up steam this year. Industry sales are performing better than expected in 2015, and all indicators point to seeing similar growth in 2016.
In each of the Coach's Corner columns, I have touched on many of the things a sales team coach must do and why they should be done. Game planning, goal setting and training - each is critical to the coaching process.
Our mission is to help you visualize what can be done, analyze what you are doing, and finally realize your objective. For most companies, the end of the calendar year is the end of the business year. It is time to take stock of the business or department that you are charged with to see if you have moved the needle.
Each year as we race toward the finish line of the year, things kick into overdrive. Deadlines are tightened to accommodate vacations, holidays and celebrations. To do lists - both for family and for work - grow to unbelievable lengths. Days become filled with work, errands, parties, plays and caroling. Baking, stories and toasts fill evenings. It's the most wonderful time of the year!