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Be ready to get your fair share

Ray Allegrezza, Editor in Chief -- Furniture Today, February 1, 2010

Yes, Virginia, it looks like there really is light at the end of the tunnel.

As we head to this week's Las Vegas Market, we've heard favorable reports from three other markets in January — Toronto, Atlanta and Tupelo.

Exhibitors came prepared with fresh new lines; buyers came and shopped and orders were written.

In Tupelo, which has established a niche as the place to shop for promotionally priced goods, upholstery in particular, there was a strong showing of Top 100 heavy hitters including Art Van, Badcock Home Furniture & more, Big Lots, Bob's Discount Furniture, Farmers, Jordans, Miskelly Furniture, Nebraska Furniture Mart and PMD. Regional retailers including Mazers and Standard Furniture also were shopping.

Stuart Shevin, president of Standard, told me that he had bought items from each of the first five showrooms he shopped.

“I haven't seen this many fresh new looks here in a long time,” he said. And while he and others were shopping for deals, Shevin called pricing reasonable and said he didn't find “giveaway pricing.”

There's also good news from the consumer sector. According to Consumer Reports, during the recent holiday season consumers spent about 16% more than they had planned. Of those who bought gifts, 17% said they also made a large purchase for themselves or their home and of that group, 5% said the purchase was either for furniture or a mattress.

So, it seems that business is getting better, which is good news, right? Of course. But in the spirit of transparency, I also want to tell you about a few concerns that bubbled up during some of the recent shows.

Credit availability and cash flow are still issues that are posing challenges to retailers and suppliers alike.

I also heard that the shipping companies have enacted a mandatory emergency price increase — as much as $400 — on incoming containers.

And there's a growing concern over labor shortages said to be hitting a number of the larger Asian factories.

In the event that these issues become more prevalent, it would seem to be a good time to implement plans to minimize any negative consequences.

You've worked hard to improve the business. Signs indicate those efforts are beginning to bear fruit. Now, be ready to get your fair share of the harvest.

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