High Point offers tips on stimulating retail business

Report available on Market Authority's Web site

Staff Staff -- Furniture Today, September 9, 2008

HIGH POINT - A new Business Outlook report from the High Point Market Authority focuses on strategies that are driving business at furniture stores, despite the challenging economy.

The report is available on the Authority's Web site at www.highpointmarket.org. Click on Industry Insights (you'll have to register if you haven't already) and then click on Industry Reports.

Brian Casey, the Market Authority's president and CEO, said the High Point team sifted through economic data and consulted with retailers who are bucking the current trends, as well as manufacturers and industry experts.

"In the process, we uncovered some specific strategies that we believe will both inform and assist executives as they navigate uncertain times," said Casey. Among those quoted in the report are:

• Joe Quintal, store manager of Worcester, Mass.-based Rotman's, who said his company is attracting business with such sales as "dollar-off deals," such as offering a $100 gift card with a $599 purchase. Bargain-conscious shoppers also respond to the retailer's 32-page circular, which is mailed and inserted in the local paper.

• Stefanie Lucas, president and CEO of manufacturer Rowe Fine Furniture, who says the industry has to be creative and "tap into the mindset of the consumer and (find out) what's going to make her buy."

• Jim Dion, president of Chicago retail consulting firm Dionco, who expects consumers will focus more on the home as a domain. "Retailers and manufacturers alike should take this opportunity to promote home furnishings as an investment in home, family and happiness," he said.

Casey said retailers looking to diversify their product mix or keep exciting product on their floors can find a broad selection at the fall High Point Market, Oct. 20-26.