The benefits of timely topics and networking
By Jerry Epperson -- Furniture Today, February 17, 2002
It's early December in Key Biscayne, Fla., and I am fortunate to be with about 200 furniture industry friends at the Furniture/Today Leadership Conference. Topics were timely and reflected what we all have discussed at other times.
For example, "The Changing Role of Furniture Markets" featured folks from High Point, Tupelo, San Francisco, Toronto and the proposed Las Vegas market. As each described their target audiences and plans, they appeared compatible but overlapping. San Francisco and Tupelo were the most focused by geography and price point, respectively, while Toronto presents the breadth of Canadian merchandise.
Las Vegas has numerous targets, including space set to be open daily to the designer trade, an area for hospitality and contract furnishings, and a massive area that can house any number of temporary exhibits or conventions. Needless to say, High Point, with 12 million square feet of showrooms — about 270 football fields for you sports fans — continues to be the dominant market in product mix, price range and geography. Under the new market authority, it has big plans too.
Another topic was "Does Size Matter?" featuring top officers from La-Z-Boy, Palliser, Century and Simmons. With the recent bankruptcies of several of our largest furniture retailers and the breakup of manufacturing conglomerate LifeStyle, is there something within our industry that prohibits the large companies from succeeding?
There was general agreement that while size brings different benefits, it also has different challenges. The key appears to be keeping flexible, ready to change and adapt, and finding and motivating the right people while taking advantage of branding, technological, financial and purchasing opportunities.
Eighteen months ago, the industry was under siege from as many as 50 dot-com and e-marketplace entities that offered easy answers to our industry's many problems. Six survivors that offer proven services and benefits spoke on another panel. Our business is better today because of the technological advances that have been made in data interchange, video cataloging and display, and Web sites.
Together they are educating consumers and giving our products exposure to a broader audience, some of whom may not have an appreciation for our merchandise, while also creating back office efficiencies that should help the profitability of both retailers and manufacturers.
The greatest benefit of the conference, in our opinion, was the time allowed at meals and between sessions to interface with new and old friends. It was valuable to everyone to see suppliers, manufacturers and retailers exchange ideas and learn about each other.
Plus, we got to see Vaughan-Bassett's John Bassett and City Furniture's Keith Koenig and his late brother, Kevin, receive Furniture/Today awards. Congratulations. Their acceptance speeches alone were worth the trip.
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