Furniture Wake-Up Call: Please Drop The N'T!
Ron Wanek, head of Ashley and a student of history, is fond of saying “In peace, prepare for war. In war, prepare for peace.”
Given the wisdom of that advice, and given the fact that we are in an economic war of sorts, I’m surprised that more of us are not preparing for peace.
While none of us can predict exactly when we are going to come out of this recession, it’s a safe bet that we will dig ourselves out.
And when we are all standing on firm and level ground once again, the race will be on to regain market share.
But what about right now? Most of us still have a bunker mentality, meaning we only stick our heads up out of the foxhole long enough to grab a quick look at the landscape before ducking back down for cover.
But in doing so, are we really getting a realistic view of the landscape? Probably not.
Also, the litany from the vast majority of companies these days are all pushing the NT button. As in the word don’t. Don’t hire anybody. Don’t spend one penny more than necessary. Don’t dare think about trying anything unconventional right now. Don’t you dare.
What a mistake. Right now, with the industry as quiet as a grave, this is the best time to shout your message! Shout that you had the smarts to hire some of the the sharp and talented people who suddenly found themselves on the sideline thanks to the downturn.
Shout about your new ad campaign, your new store, your new collection or your new technology.
The consumer is still out there. She is just waiting to hear the ‘all-clear’ signal from someone. Why not you?
Being aggressive in a downturn is counter-intuitive. But I agree with Ron Wanek. Now is the time to position yourself for next year’s growth.
scott morgan commented:
seems that majority of retailers are not on facebook or twitter or know what they are even,the future is social media that is new and exciting and old line furny stores are looking down n out faster than you can jump.look at chicago,petersons,porters of racine and plunketts gone...whooosh..300 years plus of retailing...poof gone
ray allegrezza commented:
Thanks to J Everett and Jim Green for their comments. Now, if more of us would initiate some of those out of the box ideas, things could get interesting!
J Everett commented:
Consumers can sense desperation-if your floors are half empty and displays do not look like they used to and if they do not see your regular ads-the consumer is going to sense trouble and not feel comfortable purchasing. On the other hand if you go after business with a positive vibe-including keeping well stocked and displayed-placing new and inventive ads it is amazing how quick the consumer will turn your favor.
Jim Green commented:
I couldn't agree more, Ray. In response to a reader's comment on my last post to my blog on this web site I wrote, "I believe that the surviving retailers in our industry will be led by managers and executives unafraid to shed strategies that are no longer working in favor of new ideas that position the ultimate consumer at the center of their efforts."
ray allegrezza commented:
thank you both for your input. And Victor, I am encouraged by your opinion that "there is still a vibrant life in" home furnishings!
Thank you both!
KatherineC commented:
This is dead on..!go get 'em!
victor pedraz commented:
The smarter designers/retailers have been repositioning since January. Little do people know or realize that we as suppliers can much more easily get the attention of our buyers just by simply engaging them in these tough times. Prospective buyers appreciate the attention of a rep or manufacturer who understand that they are unable to go forward with a purchase of inventory at this time but are flattered that we still care. Personal observations from my recent visits to HD and ICFF confirm that there is still a vibrant life in Home Furnishings. HD was deadly and maudlin while ICFF was jamming and both suppliers and buyers were ENGAGED. Yes Dorothy...Optimism counts!
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