Here's one retailer who isn't cutting back
By Ray Allegrezza, Editor in chief -- Furniture Today, November 25, 2001
I don't know what the rest of you have been hearing, but the comments that have come my way, particularly in the wake of Sept. 11, seem to indicate a resolve by this industry to dig in, dig deeper and emerge smarter and stronger than ever.
I talked with scores of retailers and manufacturers during the recent High Point market, and the overall tone of those conversations was realistically optimistic. The attendees I spoke with acknowledged that, while market attendance was light, traffic into their stores was actually very healthy.
Just as telling — pardon the cliches — was the sense that our glass is not half empty, but half full; that it is time to take the lemon, make lemonade and sell it for a respectable and fair margin.
Underscoring many of these views is an e-mail I received just last week from a retailer. While I won't reveal his identity, I will share his observations, especially since they capture the essence of what I heard at market. Here's what he wrote:
"To put it bluntly, I'm not buying.… I'm not buying the news of an oncoming recession. Did my business suffer because of the September 11th attacks? Sure, for a week or so. Since then, my store has bounced back and done exceptionally well.
"Why do furniture retailers not realize that we are in the ideal position? I think that it's easier to buy into the doom and gloom of the news, instead of using our common sense and looking at the opportunities that are out there.
"While many retailers are cutting back, I'm hiring additional sales help in anticipation of the next four to six months. Let's face it, consumers will be traveling less and staying home. I'm not selling vacations, I'm selling home furnishings.
"Get the picture? More customers staying home can translate into more customers improving their homes. While many in the home furnishing industry are going to cut back advertising, inventories, personnel, I'm going to be prepared for the customer that wants to improve their quality of life.
"I'm going to be prepared for those customers that are taking advantage of low interest rates and buying new homes. I'm going to be prepared for the sales associates that my competitors lose because of their shortsightedness. I'm going to be prepared....
"Guess what? I am buying! I'm buying that Americans aren't afraid to spend their money. I'm buying that Americans will be 'nesting' and improving where they live. I'm buying that I'll be around to serve those customers, and my competitors won't.…
"September 11th was a tragedy for our country. That, I'll grant you. However, I'm going to take it as a challenge and a starting point to be better, stronger and a smarter retailer."
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