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Reincarnations reach out to next generation

Jerry Epperson -- Furniture Today, April 27, 2008

At the spring High Point Market, I was impressed with the array of new merchandise from every supplier. Funny how price increases spur a new product flow in our industry, isn't it?

I am so old that I often recognize the introductions as being reincarnations of furniture from decades ago. I was almost thrown out of a recliner manufacturer's showroom a few years ago because I reminded them that their new feature was offered by a competitor in 1972.

I had one of those "Why didn't I think of that?" moments at the Howard Miller showroom when I got to see their new Ty Pennington home storage solutions. They offer well thought out multi-functional storage in a wide variety of compact traditional-looking casegoods, plus a line of "bookcases" or wall storage, and a system of cubes that can be rearranged for different needs as the household grows or moves.

These cubes were reminiscent of a mid-1970s introduction by Lea Inds. called Geometrix, modular rectangular boxes that could be stacked into wall units, wall beds, entertainment cabinetry or just basic storage. The Lea units came in several variations: open with a wood shelf; with glass doors, a glass shelf and a light; two drawers; or in a drop-lid desk unit. Combined with a light bridge and a headboard, you could build a variety of bedroom or family room combinations, in a range of finishes. These were a success with my generation when we were in our twenties, without a lot of coin, and desperately in need of affordable, adaptable and easily moved furniture.

My Geometrix units lasted through two homes, were passed along to my sister-in-law and then to one of her kids, and no doubt are alive in someone's basement somewhere.

The next HUGE opportunity for our industry is furnishing the 73 million Generation Y'ers, aged 12 to 30. Furniture like Howard Miller's Ty Pennington storage line or Palliser's EQ3 is right for reaching out to this younger generation. They are not seeking investment-grade furniture or heirlooms that will last the rest of their lives. We must either meet that need or watch Ikea and Target grow.

Thankfully, we are finding smaller-scaled upholstery and wood furniture perfect for the apartments and first homes Generation Y will be inhabiting.

By the way, 50% of America's homes were built prior 1972 — before we had many queen-sized or any king-sized mattresses, so the rooms were much smaller. The average size of a newly built home in 2006? 2,400 square feet. In 1970? 1,500 square feet.

Author Information
W.W. "Jerry" Epperson Jr. is a managing director of Mann, Armistead & Epperson Ltd., 119 Shockoe Slip, Richmond, Va., an investment banking and research company that specializes in the furniture sector.
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