First markets of 2004 point to a strong year
Ray Allegrezza, Editor in chief -- Furniture Today, January 26, 2004
There's nothing like a couple of hot winter markets to get the year off to a glowing start. Based upon what I've seen so far, we could very well be on our way.
Showtime, for example, was visibly vibrant, due largely to the rainbow of clear, crisp colors on display there. Bright and bold reds, crisp and clear blues, various shades of peach — well, you name it, and I most likely saw it.
And so did the seemingly larger-than-normal groups of heavy-hitters spotted still working the aisles on the third day of the High Point fabrics show.
After Showtime, we were off to Toronto for the market there. Despite the arctic air outside the International Center, the mood inside was warm and upbeat. Traffic, as has become the norm for virtually all markets, was brisk even before the official opening bell as buyers sought to replenish inventories.
As reported in last week's paper, when all was said and done, both retailers and manufacturers agreed the mood — and the order-writing — was better than expected.
One thing I suspect made both Showtime and Toronto successful was that expectations on the part of all concerned were realistic. That perception was underscored by one buyer who said, "We know there are challenges ahead, but we also know our business picked up steadily during November and December, so we set our strategy and our expectations accordingly."
That thinking seems to have spilled over to the rug market held last week in Atlanta. The order-writing and enthusiasm prompted more than one exhibitor there to say the industry is headed in the right direction.
A number of just-released statistics appear to substantiate these upbeat observations. According to Raymond James and Associates, sales in November from home furnishings stores were up just under 9% year over year, following a 12.9% spike in October. December retail sales for furniture and home furnishings stores were up just under 10% on a year-to-year basis, unadjusted for seasonal differences, the company said.
Heading in the right direction seems to be a pretty accurate description.
Based on conversations I've had with retailers and exhibitors headed to San Francisco, a number of signs point to a good show. For example, the addition of 11 new tenants, and nine expansions and relocations, suggest that exhibitors are optimistic. Similarly, the spike at retail in November and December is likely to translate into serious shopping at the San Francisco show.
A number of readers have commented on how this recent wave of optimism has done wonders in shaking off the malaise that seemed to affect much of the industry.
We deserve it. We make and sell beautiful furniture that makes the consumer feel better about herself, her home and her world.
It's our time to shine.
Opinion columns are available online at www.furnituretoday.com.
