What a difference a year makes!
By Carole Sloan -- Furniture Today, April 28, 2002
The mood, environment and energy at the market was a dramatic change from last April, when everyone seemed to be in denial concerning the economy and the role of imports.
The energy of both buyers and sellers was clearly discernible this market, and it had only a bit to do with product. It was more a feeling that to feel good about the business was OK. The marketplace has stablized, and the new realities about consolidation, offshore sourcing and distribution are being dealt with.
As we all know, business is not great overall, but there are some standouts. The overall mood at market reflected the ups and downs that many retailers are experiencing, which also affected the way they approached new product. Despite yo-yo business, people weren't tearing their hankies to shreds.
This was not a barn-burner of a market, but the likelihood is that we probably won't see barn-burners in the future. It's just not the way business is going to happen.
More importantly, it was a market typified by a steady, upbeat tenor, one that seemed to understand that the sales growth and expansive store openings of the '80s and '90s are behind us.
Few retailers were heard saying "Wow!" when checking out new product, but many were approving of well-thought-out introductions that filled voids or opened new opportunities via line extensions into related home products. Few companies offered more of the sizzle than the steak.
As for imports, there seems to have been a 180-degree turn. Resources who produced furniture in China or elsewhere long have been reluctant to fess up, as if there was some stigma attached. Last week, retailers and manufacturers seemed more than comfortable with talking about outsourcing, and what it meant to both.
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