“Broad River Retail extends its sincerest congratulations to these exceptional individuals for their remarkable academic achievements,” said Manny Rodrigues, Broad River Retail chief operating officer said. “In these individuals, we’ve seen an unwavering dedication to academic excellence. We wish them every success as they continue their journey towards what is undoubtedly a bright future.”

The Founders Scholarship Fund winners are:
+ Amahri Boykin​
+ Mark Deulley
+ Denasia Dixon
+ Emelyne Henderson
+ Kaiya McDonald
+ Tamya Ormond
+ Claire Phillips
+ Vincent Sayles​
+ Jenna Webb

Scholarships were granted across five tiered levels (bronze, silver, gold, platinum, and diamond) with amounts reaching up to $15,000 per year, split evenly between two semesters. Funds may be utilized for academic-related expenses including tuition, books, fees, and school-approved housing.

“It brings us great joy to present these scholarships to such remarkable individuals,” said Charlie Malouf, president and chief executive officer of Broad River Retail. “Education can transform lives in profound ways. The Founders Scholarship Fund was established in 2019 as a gesture of appreciation from our co-founders and demonstrates Broad River Retail’s dedication to furnishings life’s best memories for our Memory Makers and their families by helping to offset the cost of higher education.”

Senior Financial Analyst and parent of one of this year’s scholarship recipients, Allie Webb, initially learned of the scholarship from the CEO’s 2023 podcast interview with the winners. When information 2024 became available, Webb forwarded the application to her daughter, Jenna.

“We were beyond thrilled and relieved when Jenna won. Her cost of attendance after merit scholarships at The College of Charleston is still between $33,000 to 40,000 a year, so the full amount will be applied to her tuition and will help significantly as she finishes her bachelor’s degree in environmental geosciences,” Webb said.

Allie Webb, a Senior Financial Analyst and parent of one of this year’s scholarship recipients, discovered the scholarship through the company’s podcast, Stories from the River. When the 2024 details were released, Webb eagerly passed the information to
her daughter, Jenna.

“We were beyond thrilled and relieved when Jenna won,” said Webb. “The scholarship will help significantly as she finishes her bachelor’s degree in environmental geosciences.”

Nineteen candidates were considered for the Founders Scholarship Fund awards for the upcoming 2024-2025 academic year. Candidates completed an application and responded to writing prompts, including an essay titled “Life’s Best Memories.”

“The Founders Scholarship Fund is one of the many ways we can live out our purpose of furnishing life’s best memories,” said Director of Memory Maker Experience, Heather Greenwood. “It is an honor to support our Memory Makers and their children as they create their own best memories. Broad River is proud to help the recipients make their dreams a reality.”

Broad River Retail created the Founders Scholarship Fund in 2018 to help offer academic opportunities to Memory Makers and their families. To date, the fund has awarded over $250,000 to 31 recipients. This initiative aims to assist aspiring students in pursuit of higher
education without the weight of financial constraints.

The post Broad River Retail awards $65K in scholarships through Founders Scholarship Fund appeared first on Home News Now.

In light of three phone calls I received recently, I would like to challenge that statement. In fact, based on the calls I got, I’m thinking terrible things come in threes. And, for sure, no good deed goes unpunished.

Here’s why: I got calls from three different reps (each representing different factories) who said they had lines that they cultivated, grew and continued to grow, taken from them as house accounts.

And as someone who has worked with the International Home Furnishings Representatives Association for the past five years, this news, sadly, is becoming more and more commonplace, especially as the economy struggles and business for relatively high-ticket, often-postponable items like ours remains challenged.

Sadly, in the wake of economic downturns, the plight of independent sales representatives often goes unnoticed or worse, swept under the rug. These individuals, who tirelessly build relationships and accounts, are now facing a harsh reality: having their hard-earned accounts taken away by the very factories they represent. This practice not only undermines the efforts of these reps but also highlights a fundamental injustice in the business world.

Independent sales representatives who do it right play a vital role in the economy. They serve as a strong and reliable bridge between manufacturers and consumers, leveraging their expertise, networks and dedication to drive sales and promote products.

Many of these reps invest significant time and resources in nurturing client relationships, understanding market dynamics, providing marketing intelligence and advocating for the brands they represent.

However, amidst economic turbulence, some factories certainly appear to be utilizing drastic measures to cut costs and maintain profitability. One such measure is the termination or reassignment of accounts from independent reps to in-house sales teams or larger distributors. While this may seem like a strategic move from the factory’s perspective, it’s a devastating blow to the independent reps who rely on these accounts for their livelihood.

The decision to strip away accounts from independent reps is not just about reallocating resources; it’s a betrayal of trust and a disregard for the value these reps bring to the table. These individuals often serve as the face of the brand in their respective territories, offering personalized service, localized expertise and a deep understanding of customer needs. By severing ties with independent reps, factories risk alienating loyal customers and sacrificing the competitive edge that these reps provide.

Furthermore, and equally as dangerous, this practice perpetuates a power imbalance in the business ecosystem. Independent sales reps operate with limited bargaining power compared to large corporations. They lack the resources and leverage to challenge unilateral decisions made by factories. As a result, they find themselves at the mercy of these factories, vulnerable to sudden changes that threaten their livelihoods.

Moreover, the repercussions extend beyond the economic realm. For many independent reps, their work is not just a job but a passion. They take pride in building long-term relationships, supporting local businesses and contributing to the success of the brands they represent. The abrupt loss of accounts not only impacts their financial stability but also takes an emotional toll, shaking their confidence and sense of purpose.

In light of these challenges, and in light of what appears to be an uptick in this power imbalance, I think it is time for factories guilty of this practice to rethink their approach to managing independent sales reps, especially during times of economic hardship. Rather than viewing them as expendable assets, factories should recognize the value of these reps as strategic partners in driving sales and fostering brand loyalty.

Moreover, a more equitable and transparent relationship between factories and independent reps is essential. This includes providing clear communication, fair compensation and opportunities for collaboration and mutual growth. By fostering a culture of respect and reciprocity, factories can harness the full potential of independent reps and navigate economic challenges more effectively.

I know for a fact that many independent reps are out there every day representing their respective factories based just on goodwill, a verbal agreement and a handshake. From where I sit, factories that suddenly decide that profitable accounts cultivated by their reps should suddenly become house accounts, send a message that integrity takes a back seat to bottom-line results.

In the spirit of balance, I will also say that not every rep has or brings an A-game on to the field. As with any group, you will have overachievers, achievers, just-enoughs and, yes, some who should really find another line of work that they might be better suited for.

But to penalize a rep who has built up a line and consistently hit his or her numbers is just wrong.

In conclusion, the practice of taking away accounts from productive, engaged and successful independent sales reps amidst economic hardship is not just unfair; it’s short-sighted, counterproductive and destroys trust, not just between the rep and the factory, but within the industry as well.

My message to the factories is this: If you’ve developed a team of successful, loyal and productive independent reps, my hat is off to you.  If you’ve hired reps who are not meeting your expectations, find reps who will. And if you are punishing successful reps by bringing their accounts in house, there is probably something that needs fixing in your house.

It undermines the contributions of these reps, perpetuates inequality in the business landscape and erodes trust within the industry. To build a more resilient and inclusive economy, we must recognize and respect the invaluable role played by independent sales reps and ensure that they are treated with the fairness and dignity they deserve.

The post In defense of the independent sales rep appeared first on Home News Now.

MONROE, Mich. — From La-Z-Boy’s latest earnings call for its fourth quarter and full fiscal year ended April 27, it’s clear that retail development — both new store openings and acquisitions — remains a core part its strategy moving forward.   

Of course, none of this is new given the number of stores the company has in place currently. But it appears to be positioning itself for even further growth in the months and years ahead.  For example, during its latest earnings call, company President and CEO Melinda D. Whittington noted that the brand is looking to have about 400 La-Z-Boy Furniture Galleries over the next several years, up from 355 at the end of its latest fiscal year.

The 355, which is up six locations from the prior year, brings the number of total company owned stores to 187, including the six new store openings and 11 acquisitions during the full year, including the acquisition of a two-store independent network in Florida during the quarter. And in May, she said, the company also signed an agreement to acquire an additional one-store market from an independent dealer in the Midwest that’s set to close in the first quarter of fiscal year 2025.

Bob Lucian, senior vice president and chief financial officer, noted that the company plans to open 12-15 new stores — separate of any acquisitions — mostly in the second half of the year as part of a planned $70 million to $80 million in capital expenditures during the fiscal year, which he noted “includes land and building investments and stores to maintain the growth of our retail network.”

Obviously, the company is bullish on its store network during a time when furniture retail is struggling amid an environment of high interest rates that are hampering existing home sales, combined with consumers tightening their belts with high-dollar purchases.

During the call, Whittington noted that while total written sales for company-owned La-Z-Boy Furniture Galleries were up 1% for the quarter, written same-store sales for the entire network of 355 stores were down 3% for the quarter compared to the prior year and down 2% for the entire year. But she also noted that this performance is still better than the industry overall “against a backdrop of 8% industry contraction” during the quarter and down 6% for the year “as our significant outperformance versus the market persisted throughout the year.”

“Despite ongoing challenging traffic trends, our stores continued to execute very well, with higher conversions, higher ticket and design sales partially mitigating the traffic headwinds,” she noted.

In addition, the company now owns 53% of the stores in the La-Z-Boy Furniture Galleries network for the first time in its history. Of course, some of this has to do with the acquisition of stores from independent dealers looking to get out of the business during this ongoing period of malaise. Perhaps company ownership will improve the performance of these locations as things start to turn around, but that largely depends on support from the economy.

For Whittington, the growth of the store footprint makes sense moving forward.

“We see meaningful opportunity to expand the company-owned portion of the network through new store growth and acquisitions,” she said, adding, “These store acquisitions are immediately accretive to our profitability, allowing the company to benefit from integrated wholesale and retail margins.”

She also noted that growing the company-owned store network is important “as it enables the brand to control the end-to-end consumer experience and leverage the strength of our vertically integrated model.”

Another benefit in the company-owned store approach? It also helps guide product development.

“We continue to shift organizational decision-making to be more consumer-centric while also leveraging a data-driven approach,” Whittington said, adding, “This is enabling us to develop more consumer-relevant, on-trend upholstered furniture, particularly in the motion and reclining categories where we are a market leader.”

Of course, this consumer-driven approach is not just beneficial to the development of upholstery and recliners, but also wood categories such as occasional, along with bedroom and dining furniture offered by its sister brands.

The success of this growth initiative also obviously depends on a number of factors, ranging from interest rates and housing sales to the consumers’ willingness to return to spending more on the home. Yet despite these uncertainties, Whittington was optimistic about the company’s strategy, not just in its retail store footprint, but also how it is serving consumers in the market overall, ranging from the agility of its supply chain to product development initiatives.

“We know there are consumers out there still investing in their home, even in a challenging economy, and we believe we are disproportionately capturing them,” she said. “But if I were to step back and say ‘what is the biggest pivot for us as a total enterprise?’ It’s really this focus on driving our own company-owned retail and the reason for that is two-fold. We can control that brand experience for the consumer end-to-end. We can avail ourselves of the data from that consumer by interacting with them directly, and from a financial standpoint, we can take advantage of that integrated margin of owning the entire chain, from pieces of fabric and steel all the way to putting that product in the consumer’s home. And we believe that’s good for the consumer, and that’s good for our financials as well. So really, I would call continuing to expand our reach of our own retail probably the No. 1 biggest driver.”

The post La-Z-Boy continues to focus on its growing retail footprint appeared first on Home News Now.

“Independent furniture stores selling Meridian have seen increased traffic with younger customers coming in to furnish their living space with more contemporary pieces,” said Michael Rosilio, president of Meridian Furniture. “Social media has made it possible to reach customers that otherwise might not have known about us.”

Best Buy Furniture, located in Pennsylvania and New Jersey, is a three-store traditional brick-and-mortar chain that features the brand, promoted through leading influencers and a strong social media presence. According to Best Buy Furniture Chief Executive Jordan Lulu, Meridian Furniture, which offers top quality, trendy furniture with unique designs, has been a go-to partner, especially when targeting celebrity influencers.

“Not only were the product styles what they wanted, but the price points were unbelievable,” said Lulu. “Meridian gives us the designer looks influencers and celebrities want for half the price. We’ve done a lot of work on influencing. We had never seen such a big increase in sales before posting on social media and running ads on Instagram, Facebook and Google, and we do all that in-house. And it helps that Meridian has the overall aesthetic, appeal, and packaging that young consumers love.”

Influencers well-known to the TikTok generation such as “Food God,” formerly known as Jonathan Cheban, who made appearances on “Keeping Up With the Kardashians,” and YouTube star Jake Paul have taken to Instagram and TikTok to share their homes being furnished by Best Buy Furniture, and Lulu has furnished homes for free in exchange for social media posts. Part of why the 26-year-old’s marketing approach is successful is because he’s connecting with influencers that millennials and Gen Z are interested in. So far, Best Buy Furniture has garnered over 174,000 followers across all social media platforms, with at least one social media influencer—Ed Bassmaster—who pranked salespeople on the floor garnering more than a million views.

“We’re shifting a lot of our attention online, to our e-commerce website. Customers can purchase Meridian Furniture at any of the three Best Buy Furniture suburban locations, two in Pennsauken, New Jersey, and one in Philadelphia, Pennsylvania, and we can place an order and ship something directly to California or Missouri or Boston or any other city in the U.S. for really competitive pricing,” Lulu said. “It’s rare for manufacturers to give us that backend system and support to be able to cater to all these customers.” 

The post Meridian helps dealer Best Buy Furniture attract younger customers through social media appeared first on Home News Now.

The spot market is the global trade equivalent of seeking out a loan shark to tide you over until your next paycheck; it is merciless, expensive and simply not a sustainable financing strategy.

The Bloomberg report has A.P. Moller-Maersk warning that the world’s supply lines have and will continue to be more disrupted by congestion in the Red Sea than has been previously acknowledged. Out of the other side of its sizable mouth, the shipping giant raised its profit outlook. This is the difference between, on the one hand, container carriers and oil companies and, on the other, businesses that have to rely on persuasion to win the customer’s hard-earned disposable dollar. The message? “You need us, so suck it.”

The Danish company cited the now 6-month-old problem of Houthi “pirates” for the decline in container capacity, which in the world of shipping means ever-higher prices to secure a diminishing resource. Supply is reportedly down; prices are way, way up. Spot rates for full-size containers coming here from Asia are north of $6,000 for a 40-foot unit or its equivalent, according to the Drewry World Container Index. That’s three times the rate as recently as December. Editor’s Note: Industry sources have told Home News Now that they are paying as high as $10,000.

The Maersk announcement, which predicted “strong” demand for its containers for the foreseeable future, also cited what the company calls Red Sea “ripple effects” for the declines in capacity. These effects include bottlenecks at some of Asia’s biggest ports and major customers’ willingness to pay big up front to secure shipping capacity for the all-important holiday selling season. 

What the announcement doesn’t mention are the ripple effects of the ripple effects. Another news item, this one from the South China Morning Post, warns that shipping costs even from the interior of the country also are on the rise because of traffic jams on the Yangtze River, Asia’s longest waterway and the functional equivalent to the Mississippi River. The cause of the choke points also is a decline in capacity, increasing wait times and delays. The ripple effects of the ripple effects, therefore, are the difficulties getting raw materials and even fuel into the country in order for goods to flow back out of the country. These delays inevitably affect the international trade routes, as well. 

Vietnam v. China

Meanwhile, over in Vietnam, there is more than deep concern. You can go ahead and call it alarm. 

Higher shipping costs and increasing delays trigger contract penalties and threaten already thin margins, putting billions of dollars at risk, according to Vietnamese state media. And at least from the view of Vietnamese logistics experts, this is a situation that shows no signs of improving any time soon. 

For these experts, add to the Red Sea disruptions the escalating tensions between the United States and China and the recent round of tariffs on Chinese goods levied by the Biden administration. The run-up to these tariffs that take effect in August has spurred U.S. importers and Chinese exporters alike to expedite shipments before that deadline. This puts many if not most Vietnamese exporters at a competitive disadvantage. 

Chinese companies can pay up to $1,000 to secure a shipping slot, whereas Vietnamese companies can only offer perhaps $600, according to the Vietnam Ship Agents, Brokers and Maritime Services Providers Association. Add to this the fluidity of pricing from the container carriers. Typically, rates are good for 15 days to a month; in today’s environment, they can change daily. And sea freight rates for Vietnamese producers to ship to the U.S. have reportedly doubled this year already.

Danish danger

As inflation at least loosens its grip, the container carriers seemingly couldn’t care less. They are proving yet again that they will seek maximum profits even as their customers buckle and break under yet another sustained period of uncertainty with respect to supply chains. The revised profit outlook from Maersk is the second this month. 

The Red Sea-caused re-routes are “expected to contribute to a stronger financial performance in the second half of 2024,” according to Maersk’s self-serving statement. Stronger for the carriers. Not mentioned? The weaker financial performance presumably for nearly all of its customers.

For those scoring at home, Maersk revised its profit outlook to $7 billion to $9 billion this year over the previous estimate of $4 billion to $6 billion, or a nearly 30% to 50% markup. Are you kidding me? Of course, Maersk shares rose nearly 4% on the news of the revised forecast.

The Copenhagen-based company also stated that congestion will continue to cause disruptions in ports in Asia and the Middle East, which sets the company up nicely for yet another revised outlook and yet higher quoted rates in the near future. Maybe tomorrow.

La La Land

A quick check on some of the bigger ports finds congestion at all of them, including Singapore, Ningbo, Shanghai and Qingdao. The Port of Los Angeles, the busiest port in the country, remains above the pre-pandemic peak, according to Bloomberg.

Returning to Drewry’s data, the cost of a 40-footer to L.A. from Shanghai saw six straight weeks of price increases, including a nearly 1% hike two weeks ago to bump the container cost to $6,025. That’s a tick better than Shanghai-to-Rotterdam, which increased 2.4% to $6,200, the highest that route has been since September 2022 coming out of the pandemic.

The routes hardest hit? Shanghai to Genoa, Italy, now at $6,900, or 3% higher than the first of the month and also the highest since September 2022, according to Drewry. 

As reporting by HNN’s Tom Russell uncovered earlier this month, yet another disrupter is the lower average vessel speed, which has dipped to an average of 17 nautical miles per hour from a high of 24 knots, a drop of nearly a third, according to Statista. 

The ships keep getting bigger and, therefore, heavier, turning an idiom into description: the slow boats from China. 

The post The soul-less profiteering of container carriers appeared first on Home News Now.

SEFFNER, Fla. — Another dresser sold exclusively at Rooms To Go has been recalled because it does not comply with the performance requirements of the STURDY (Stop Tip-Overs of Risky Dressers on Youth) Act according to the United States Consumer Product Safety Commission.

On Thursday, the CPSC announced a recall involving 400 Cedona Natural View six-drawer dressers. Although there have been no injuries or incidents reported, the CPSC said that the units are unstable if they are not anchored to the wall, thus posing “serious tip-over and entrapment hazards” that can kill or injure children.

This is the second recall in the past two months for a dresser sold exclusively at Rooms To Go that allegedly does not meet the performance requirements of STURDY.

The recall involves the Cedona Natural View six-drawer dresser with model number 33117082, which is printed in black ink on a label at the back of the unit. The dresser is 68 inches long by 18 inches wide and 36 inches tall and weighs about 238 pounds.

The CPSC said the unit was made in India and sold at Rooms To Go stores nationwide and at www.roomstogo.com from November 2023 through February for about $1,000.  

Consumers have been advised to stop using the recalled dresser immediately and go to their local Rooms To Go for a replacement. The retailer, which also is contacting all known purchasers directly, will schedule a free delivery of the replacement dresser and remove the recalled dresser from their home, the CPSC said.  

For more information, consumers can contact Rooms To Go toll-free at 855-688-0919 from 9 a.m. to 4 p.m. ET Monday through Friday. Or they can email productcare@roomstogo.com or go online at www.cedonadresserrecall.com.

Home News Now has reached out to Rooms To Go and is awaiting a response to this recall and the one involving its Mill Valley Jr. six-drawer dresser announced on May 2.

The post Dressers sold at Rooms To Go recalled because of tip-over, child entrapment hazard appeared first on Home News Now.

Machinery ranged from large-scale fabric and leather cutting machines to smaller sewing machines and embroidery equipment. Resources were also on hand with the latest components, ranging from hardware and hardwood samples to spring seating and sleeper mechanisms. Home News Now captured much of this with photos taken on the show floor. To catch a glimpse of the varied displays and people we saw at the event, scroll through the slideshow below.

Tom Inman, left, president of Appalachian Hardwood Manufacturers Inc., and Steve Walters, of Richelieu USA, at the Appalachian Hardwood booth during the show.

Atlanta Attachment Co., a sister company of Hickory Springs, showcased some of its sewing, cutting, material handling and custom equipment for the furniture and mattress industries.

Consew and Meistergram showcased some of their latest sewing and cutting equipment at the show.

A show attendee checks out some of the multiple products offered by Heico Fasteners, ranging from decorative hardware and nailheads to dowels, webbing, zippers and more.

Richelieu USA also showed a wide mix of products ranging from screws and decorative hardware to hinges, drawer slides, lighting, glues, finishing products and more. It has an estimated 145,000 items in stock across industry segments and also has access to another 200,000 SKUs for special orders, the company told Home News Now.

Pathfinder Cutting Technology brought one of its fabric-cutting machines to the show, where it provided live demonstrations of its latest technologies in the sector.

Andre MacDonough, a field technician at Zund, showed off equipment that determines how to nest patterns to be cut on a piece of leather. The goal is to minimize waste and improve yield and efficiency in the cutting of leather and fabric.

Zund occupied a space near the front entrance of the exhibit hall, providing visitors a view of some of its cutting equipment in action.

ABM International, a resource for industrial quilting machines, showed some of the patterns that its equipment can produce, offering customers a glimpse at its many custom capabilities in such processes.

The process of custom embroidery is shown on a machine that ABM International brought to the show.

More vendors are seen at the show on Friday. They said traffic was noticeably lighter on the second day of the event, but were still seeing existing customers and new prospects alike. The show allowed vendors to educate customers about their equipment, products and services in hopes of boosting their business in the second half and beyond.

The post Inside the Furniture Manufacturing Expo appeared first on Home News Now.

If retail is your game, winning means having the answer to this question: What does my customer want?

In the event you are still searching for the answer, relax, here it is: Your customer wants it all.

Spoiled by the logistical whiz bang of Amazon, and the massive category offerings of online titans like Wayfair, the customer wants endless-aisle selections, sharp pricing and next- or same-day delivery.

Since the advent of online retailers, many brick-and-mortar home furnishings stores have struggled to compete with online competitors who provide zillions of SKUs, sharp pricing and speedy delivery.

Even so, the numbers indicate that while many shoppers in the market for home furnishings start their shopping treks online, they pull the trigger at a brick-and-mortar store.

While a picture may be worth 1,000 words, shoppers still want to kick the tires, feel the fabric and make sure that sofa they are considering passes the tush test. 

Proving once again that necessity is indeed the mother of invention, we now live in the age of hybridization, which I am pretty sure is a word, and if not, it is now.

Last month, as reported here by Home News Now, Wayfair opened a two-story, 150,000-square-foot store in Wilmette, Illinois.

In a press release, Wayfair described the store as a “a one-stop shop for all things home — including furniture, home decor, housewares and home improvement products, for any style space or budget.” Oh, and like Ikea, the Wayfair store also has a restaurant.

With the launch, Wayfair joins the ranks of other online merchants including Warby Parker, Casper and Allbirds, that are hoping to boost sales by adding brick to their click.

And while the numbers clearly confirm that consumers buy furniture and mattresses online, we all know that the tactile experience associated with furniture can’t be downplayed.

Let’s not forget about an interesting and sort of counterintuitive trend found by the International Council of Shopping Centers in a study it did last year.

In that study, they reported that a whopping 97% of Gen Z (people between the ages of 12 to 27) shop at traditional physical stores.

So, on paper, one might assume that retailers like Wayfair, Allbirds and Warby Parker should be skipping all the way to the bank thanks to their brick-and-mortar moves.

Maybe. But then again, maybe not. Looking at Warby Parker and Allbirds, both of which have had stores open for some time, the numbers seem to indicate, at least at this point in time, that the heavy investments made by each have yet to prove the spend was worth it.

According to the analysts that follow each of these retailers, the one thing they have in common is that, so far, they appear to be acquiring fewer new customers from new store openings as they have in years past.

Allbirds, at least for the time being, has put the brakes on new store openings and says it will focus on improving profitability, in part, by growing third-party distribution partners.

Warby Parker, meanwhile, has shifted its in-store strategy from selling eyewear to hiring optometrists, offering eye exams and other vision-related services to grow revenue.

Make no mistake — hybridization is here and here to stay. But it is also clearly a work in progress that still has some speed bumps to overcome.

Today’s hybrid shopper expects outstanding customer service, speedy and seamless checkout, fast pickup service and a host of delivery options. And why not? If hybrid retail offers the best of both worlds, today’s shopper won’t settle for anything less.

The post Does hybrid retailing offer a path to success? appeared first on Home News Now.

Life is meant to be lived moment by moment. This is how we are designed and built. We can deal with whatever life brings when we take it a moment at a time. When we stray from this, life becomes much more difficult. We give up what little control we have, we try to know what cannot be known and change what cannot be changed, which means we fall short of making the most of this moment and living the life we want to live. 

There are times when we are weighed down by what life has served up. We can become mired in unpleasant memories or distracted by what could happen if a result goes against us. A closed loop of fear, of sorrow, of distrust can clutter our mind, pollute our thoughts and leave us unhappy, anxious and uncomfortable with not only life but who we think we are. This is Noise. Our personal Noise. It is not who we really are. Learning to understand the difference between who we really are and the Noise that masks our true self is a life challenge that we all must meet if we are to find peace, contentment and happiness.

A move forward is to accept and embrace these burdens for what they are and strive to understand why they exist. For example, maybe we are anxious about an upcoming negotiation. Why? Fear of failure? Worry about what others will think? That we will be responsible for a disaster for our organization if we fail? A lack of self-confidence? Delve into the “why” of these feelings. Try to understand their source. Then learn to put these fears to the side. It also pays dividends when we step back and ask whether we are doing all that we can, and no more, to prepare for the negotiation. If we are, then there is nothing more to do. Recognize the Noise that is drowning out our true feelings. Is it telling us to do more even though there is nothing more to do? Is it hammering us to be absolutely sure (impossible) that we have done all that we can to be ready? Is it making unreasonable, super-human demands that weigh us down, that distract us, that keep us from being our best in this moment? If so, recognize this and then take the appropriate action. Put forth the necessary effort to change. 

The question we must always begin with is whether we are making the most of this moment. If the scales are not weighed toward us being who we really are and so at peace, then the onus is on us to take back control of this moment and return to it and so be who we really are. This moment is the only place we can be who we really are and so be at our best. 

We can never eliminate those things that weigh on us, but we can become better at recognizing them for what they are, and better at learning to respond appropriately to them. Is this easy? Nope. It demands we spend time getting to know ourselves at a deeper level.  This requires self-honesty, commitment, patience and an incredible amount of perseverance.

Time to unburden ourselves, to lift some of the unwelcome weight that is upon us, by becoming more familiar with the difference between our Noise and our voice and then taking the bold step of trusting our voice to be the best possible response for this moment — AND being content with this. There is nothing more to do.

More to come. 

Eric Easter is CEO of Indianapolis-based HNN 125 retailer Kittle’s Furniture.

The post We can deal with anything if we live in the moment appeared first on Home News Now.

For openers, we are a big “ask.” Statistically speaking, home décor is the third biggest outlay of cash for most consumers, right behind the cost of their homes and cars.

Then, there are the issues of postponable purchases and discretionary income, which both come into play.

Also, sales in general often dwindle in an election year as people wait to see who will be taking office.

And let’s not forget several other issues which could be putting the brakes on sales.

Economic Factors: If there’s an economic downturn or uncertainty, people tend to cut back on nonessential purchases, such as furniture, and prioritize essentials like food and housing.

Housing Market Trends: Changes in the housing market, such as a slowdown in construction or a decrease in home sales, can lead to a reduced demand for furniture as fewer people are moving into new homes or renovating existing ones.

Lifestyle Changes: Shifts in lifestyle preferences, such as a growing preference for minimalism or smaller living spaces, may lead to decreased demand for furniture or a preference for multifunctional, space-saving pieces.

Environmental Awareness: With increasing concern about sustainability and environmental impact, some consumers may opt for second-hand or eco-friendly furniture options, which could result in slower sales for new furniture.

Online Shopping Trends: The rise of online shopping platforms may change consumer behavior, with more people choosing to buy furniture online rather than in brick-and-mortar stores. However, if there are issues with supply chain disruptions or shipping delays, this could affect overall sales.

Spending Priorities: In times of uncertainty or economic instability, consumers may prioritize spending on other goods and services over furniture, such as health care, education or experiences like travel.

So, the question then becomes, “What can retailers do to stimulate sales?”

In a soft market such as this one, furniture retailers need to be strategic and proactive to maintain their competitiveness and sustain their business. Here is a short list of some actionable steps they might want to consider:

1. Diversify Product Offerings: Expand product lines to appeal to a broader range of customers.
2. Focus on Value: Lots of studies suggest the shopper is trading down. Emphasize the value proposition of your products. Highlight quality, durability and unique features to justify prices and differentiate from competitors.
3. Customer Engagement: Now, more than ever, we need to boost the shopping experience. Enhance customer experience through personalized service, online chat support and responsive customer service channels. Engage with customers through social media platforms to build relationships and loyalty.
4. Promotions and Discounts: Offer innovative and attractive promotions, discounts and bundle deals to incentivize purchases. Consider running clearance sales or seasonal promotions to move inventory and generate cash flow.
5. Optimize Online Presence: Invest in e-commerce capabilities and optimize your website for seamless browsing and purchasing experiences. Leverage digital marketing channels such as social media advertising, email campaigns and search engine optimization to drive traffic to your online store.
6. Flexible Payment Options: Provide flexible payment options such as installment plans, layaway programs or financing to make purchases more affordable for customers during economic downturns.
7. Streamline Operations: Evaluate and streamline operational processes to reduce costs and improve efficiency. Look for opportunities to optimize inventory management, logistics and supply chain operations.
8. Customer Feedback and Adaptation: Solicit feedback from customers to understand their preferences and needs. Use this information to adapt product offerings, pricing strategies and marketing tactics accordingly.
9. Local Partnerships and Community Engagement: Partner with local businesses, interior designers or real estate agents to expand your reach and tap into new customer segments. Engage with the local community through sponsorships, events or charitable initiatives to enhance brand visibility and goodwill.
10. Invest in Store Experience: Enhance the in-store shopping experience through store layout improvements, interactive displays and sensory elements. Create inviting and inspiring environments that encourage browsing and increase the likelihood of purchase.
11. Monitor Trends and Adaptation: Stay informed about industry trends, consumer preferences and market dynamics. Continuously monitor competitors and adapt your strategies accordingly to stay ahead of the curve.
12. Focus on After-Sales Service: Provide excellent after-sales service, including prompt delivery, assembly assistance and hassle-free returns. Building a reputation for reliability and customer satisfaction can lead to repeat business and positive word-of-mouth referrals.

For the record, I am the last guy to tell you these are ideas are new and infallible. I know there are no silver bullets when it comes to business.

But I also know that it is impossible to hit a target with an empty gun.

The post A few action items retailers could use to sustain business in today’s soft economic climate appeared first on Home News Now.