Business Ebbs and Flows, But Growth Still in Cards
David Perry -- Furniture Today, May 4, 2011
David Perry Executive Editor
Before April slips into May, a few final thoughts on where we stand in the mattress industry, based on what happened in High Point.
In the glow of the vibrant bedding market in Las Vegas earlier this year, it was easy to forecast a strong bedding year on the horizon. And then what happened? Bedding units promptly dived in February. I didn't see that coming.
I share that story to make the point that we shouldn't read too much into what a market's performance might tell us when looking at the longer range view of where the industry is headed.
The High Point Market just released registration figures showing that its recent event was down 7.2% compared to a year ago. Of course we know that registration is just one variable and that the level of business done at any market is a key factor. And a number of the bedding exhibitors were pleased with the business they did in High Point. Still, exhibitors do like to see lots of retailers coming in their showroom doors.
Reports on bedding traffic in High Point were mixed, as I noted in a recent story. I spent more time at market trying to figure out where the industry is heading, and that examination was fruitful. Producers told me the February slump in bedding units was erased in March and that the industry should be up for the first quarter. That's a good thing, obviously.
Other interesting findings:
► Retailers are still seeking values. Carolina Mattress Guild did well with its 20th Anniversary Platinum Series, featuring a splash of color. Market specials and incentives drove business at Magniflex, which reported an improved closing rate.
► Concern about price hikes is real. "The biggest negative was our confirmation that the impact from inflationary costs has become a real concern for our retailers," said David Farley, CEO of Anatomic Global.
► Doing things differently can pay off. Gold Bond said retailers are adding or expanding programs with its two-sided encased coil line and its futons.
► Nice orders were written. Glideaway was "not disappointed in the orders" it wrote, while Natura reported "a very good outcome because of the quality of the orders." And Therapedic was pleased with the quality of retailers it saw, made many good contacts, and had a strong show. Gerry Borreggine, Therapedic's president, called it the best High Point show for Therapedic in years.
So what does all this mean for bedding this year? We are still predicting a growth year, but it's wise to remember that business ebbs and flows.
-
Ray of hope seen for second half '09
Dec 21, 2008 -
Bedding leaders expect gains in ‘11
Dec 24, 2010 -
Therapedic adds Florida licensee
Feb 6, 2012 -
Antinori, Weinman launch Sleep International
Jan 16, 2012
Merinos Home Furnishings opening display room, Boyles addition
HOM Furniture adds flooring to six Twin Cities stores
‘Mega vessels' likely to boost capacity, stabilize freight rates
Ernest Warsaw, founder of Sheffield Corp., dies at 91
21 companies from Turkey, Taiwan and China to exhibit at Showtime
Featured Company
-
Wright Labels
Bill and Tom Wright founded Wright of Thomasville in 1961 on the idea that printing was a creative medium and the belief that "a promise made is a promise kept." The Wright brothers focused their attention on providing exceptional printing for the... more
VIEW ALL GALLERIES
