'Asterisk market' poses some new questions
By David Perry, Executive editor -- Furniture Today, October 28, 2001
The questions surrounding the October edition of the International Home Furnishings Market have been answered. Yes, attendance was off substantially. No, security was not obtrusive. And yes, the retailers who came were serious and did make plans for better days next year.
Everything considered, this "asterisk market" was a decent one.
Despite a big drop in attendance, attitudes remained upbeat. Patriotic fervor was widespread; flag-themed products abounded, many of them tied to fund-raisers for relief efforts in the wake of the bad things that happened last month.
As the red, white and blue curtain closed on market last week, some new questions began to take shape:
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Will attendance bounce back to normal levels in April?
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Will our industry be able to capitalize on a renewed focus on the home?
Never has the post-market follow-up period been more important. As you read this, sales representatives are knocking on retailers' doors, trying to summon up some of the excitement of market for those who didn't attend.
What happens in those stores in the months to come could determine whether those retailers feel compelled to make the trip to High Point in April. If they can skip a market without feeling any pain, they might not mind staying home again in April.
As interesting as the attendance issue is — and we all love to speculate on issues like this — the second question is the most significant one facing our industry.
It seems to me that we really do have a great opportunity nowadays. Americans are spending more time in their homes. They are finding strength and solace with their families and friends in these trying times.
Very significantly, travel is down. Dollars that were being spent on airplane tickets and fancy vacations are now up for grabs. But I don't think these dollars will automatically go to new sofas, because consumer confidence has taken a hit, many consumers have lost their jobs, and the stock market has been in turmoil.
I believe We Will have to win more discretionary dollars by making a compelling case for furniture. And that case largely will be made by retailers, who are responsible for most of our communication with consumers.
Everyone agrees that "no-no-no" sales and price-oriented ads just won't cut it. We need to sell the benefits of a beautifully furnished home. One key: We must spend more time in consumers' homes. Home visits by retailers are vital to identifying consumers' needs and creating solutions for them.
Another key: holiday promotions. The holidays will take on extra significance this fall. Holiday promotions are a wonderful opportunity to talk about the joys that come from home.
We've got a chance to do something big for our industry, and for the consumers we serve. Let's all get to work.
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Market ends on high note
Nov 18, 2011 -
Pent-up demand offers opportunity
Dec 21, 2009
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