Furniture First Symposium tackles tough economy
By Thomas Russell -- Furniture Today, August 31, 2008
CHICAGO — Furniture retailers attending the Furniture First 2008 Annual Symposium came away with ideas on how to boost their competitive edge in today's tough economy.
Under the banner “New Strategies for Survival and Success,” the Aug. 19-21 event featured presentations and panel discussions from some of the top manufacturers, suppliers and retailers in the business.
Presenting manufacturers and suppliers included well-known names in the industry such as Serta, Klaussner, AspenHome, Universal and Jofran. Retailer presenters included Discovery Furniture, Topeka, Kan.; the Old Brick, Schenectady, N.Y.; Schneiderman's, Lakeville, Minn.; and Furniture Warehouse Design Gallery, Beaufort, S.C.
The buying group's 11th annual event kicked off the evening of Aug. 19 with a panel discussion moderated by Serta President Bob Sherman. In that discussion, Bill Colegrove, general manager and CEO of AspenHome, suggested that retailers find what it is that makes their store unique in their market.
“What are the things that you do in your trading area that are better than anyone else?” he asked the audience of nearly 90 retailers in attendance. “The ones who are really strong have a unique competitive advantage in their trading area that nobody else has.”
Mark Stephens, vice president of sales at Broyhill, urged retailers to understand who their core customer is and “why they are shopping you. Identify the needs and provide solutions to them, not just product. …Develop and test solutions to meet those needs.”
In other words — don't just sell them what the suppliers push in the marketplace, but what they want to buy.
Jofran CEO Bob Roy told retailers to take advantage of suppliers like his that offer sound logistical solutions, while Klaussner President and CEO J.B. Davis encouraged retailers to offer plenty of options and deliver those goods in a timely fashion.
Universal President and CEO Randy Chrisley cited the success of its Better Homes and Gardens line to show retailers how they can get closer to the consumer.
“It really gave us an insight into what she was looking for and how she wanted that to look in her house,” he said.
But before just buying a brand, he said, it's important to determine how it connects with the consumer. In other words, the brand must have a following and credibility for it to be successful at retail.
The program continued the following day with presentations that focused on even more specific strategies or ways retailers can connect with an ever-changing consumer base, particularly younger technologically savvy consumers.
Karla Graves, a merchandise manager for Klaussner, talked about ways retailers can connect with Gen Y consumers, those born between 1978 and 1995. Because many of these consumers are tech driven, she suggested companies develop an online advertising strategy that includes placing ads on blogs or social sites such as Facebook.
In those ads, she said, companies should use humor, be truthful and keep the message exciting yet simple. Products, she said, should combine function with a clean-lined look. The mix also should include plenty of accent pieces and upholstery with multi-textured fabrics and pillows, she added.
Her presentation was followed by an overview of the private-label Simple Elegance program that Klaussner provides to Furniture First members.
Bryan Edwards, Aspenhome's vice president of sales for the Eastern region, then talked about the success of the company's home office program.
Aspen expanded on this success by incorporating many of the same functional aspects into its case goods collections. The functionality, particularly that which allows the use of laptops and other electronics from the comfort of one's bedroom or living room, is now part of Aspen's DNA, company officials say.
Various retailer presenters expanded on the theme of technology and how technology has helped their business.
Larry Mark, owner of Furniture Warehouse Design Gallery, talked about his experience with setting up a Web site. He stressed that even tech novices like himself can accomplish this goal.
Larry Schneiderman, president of Schneiderman's, discussed the 13-steps involved in e-mail marketing. These included ideas ranging from having the best and most useful Web site in your market area to designing and sending out effective e-mail offers. He said a store also should match such advertising to the brand image and measure results to develop effective future e-mail offers.
He also recommended that stores put the site address on all forms of advertising. Once the customer is on the site, they can sign up to be on the e-mail list and begin receiving the benefits that service offers.
Britt Beemer, chairman of America's Research Group, talked about key marketing and advertising ideas retailers can implement now.
These ranged from mentioning wood care and fabric protection programs to having warehouse and tent sales to help move inventory. He also cited the importance of anniversary sales and remodeling and re-grand opening sales events as a way to drive traffic.
Featured Company
-
Lectra Systems
Lectra is the world leader in integrated technology solutions that automate, streamline, and accelerate product design, development, and manufacturing processes for industries using soft materials. Lectra develops the most advanced specialized software and... more
VIEW ALL GALLERIES
