My list of '08 expectations
Ray Allegrezza, Editor in Chief -- Furniture Today, January 6, 2008
Welcome to 2008! I hope this year is one filled with health, happiness, promise and prosperity. While 2007 was often tough as nails, it's behind us. And here's more good news: I won't bore you with my list of New Year's resolutions, or with my list of predictions.
But you're not entirely off the hook. Here are a few things I expect will happen this year:
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Sustainability will sustain itself in our business. I think we saw the tip of the iceberg last year; this year will reveal more of a green movement that could very well become a green giant. When markets in High Point, Las Vegas, San Francisco and Seattle have green pavilions, it speaks volumes about the potential for this burgeoning segment.
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There's no place like home. Our business is linked to the housing market. Thanks to too much greed and not enough common sense in mortgage lending and repackaging, it's going to take much of this year to right-size the market.
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Watch your wallet. Last year, we saw price hikes for raw materials, energy and transportation. I expect to see more of the same this year. Keep a close eye on container, transportation and raw material costs. Somebody, somewhere down the line is going to have to belly up to the bar.
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Your business will change. Like it or not, consumer attitudes and channels of distribution are changing. If you don't embrace change in 2008, I bet you'll really understand the meaning of "between a rock and a hard place."
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Consumers will be buying furniture and bedding this year ... and beyond. Our Retail Planning Guide predicts that by 2012, total sales of furniture and bedding will hit $104.9 billion, 20% more than in '07.
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She's shopping, but will she end up buying from you? Our Retail Planning Guide also shows that almost half of the Top 25 furniture retailers represent alternative channels of distribution. They've found ways to connect with consumers.
You can, too. In fact, you have to. Make this the year you stop talking about out-of-the-box ideas and begin executing them. Make this your year.
Industry gains $11.5 billion
10/12/2009Welcome to Retail Planning Guide 2002
12/29/2001Five-year sales growth projections
01/14/2010A powerful tool for New Year success
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