From A Rep's Perspective
Hi, I'm Mike Root, President of Furniture Sales of Mid-America, (www.furnituresales.biz) a furniture wholesale company in the Midwest and Rocky Mountain states. We have been recognized by numerous national furniture factories for sales excellence including multiple Salesman of the Year awards. I currently serve on the Executive Committee of the International Home Furnishings Representative's Association (IHFRA) as well as the CQRID Advisory Board of the Interior Design Society.
I see incredible opportunities for our industry to make a difference in people's lives. It is my intention to share with you positive stories and observations from around the country as they relate to the home furnishings industry. True, this is a blog for furniture representatives. But the reality is that we are all representing the home furnishings industry. Therefore I will write to and for reps, but hopefully the message will resonate with all throughout the industry. My perspective is one of a third generation furniture guy with past experience in retail, rental, and wholesale. I also have the good fortune of working with my father, Emmet Root, who is still active as a rep after almost 60 years.
We also operate a consulting business to help retailers and factories use innovative marketing to capture the attention of the end consumer through the use of direct response marketing and social media (www.GetCustomersRigthNow.com). More information about me can be found on my blog at www.MikeRoot.com. To contact me by email meroot@mikeroot.com.
Target Sends Letter to Vendors Over Comparison Shopping
Showrooming is the latest Internet term to describe consumers coming into a retail store, seeing the product in person and then going online to purchase it from a competitor generally at a lower price (and in many cases without sales tax). This is a real problem for many retailers who maintain the cost of brick and mortar stores only to act as a showroom for Internet retailers who do not have tha... Read More
Comments (17)Integrity Explained By Businessman and Philanthropist Walter Scott
A good friend of my parents is a gentleman by the name of Walter Scott. He is a remarkable businessman whose net worth qualifies him to be on the Forbes list of billionaires. He came by this fortune the old fashioned way --- he earned it. For years he was the head of Kiewit Construction, one of the world's largest privately held, employee owned, construction companies. Walter is also chairman... Read More
Comments (3)Thanks for a Great Year from IHFRA
On behalf of the International Home Furnishings Representative's Association and the Executive Committee, I would like to wish you our holiday greetings and best wishes for a prosperous New Year. As we look back on 2011 make sure you take some time out from the busyness of the season to reflect on all the things we have to be grateful for. We live in a great country. We work in an industry that... Read More
Comments (2)Home for the Holidays
Home for the HolidaysIt's hard to believe that we are less than two weeks away from Christmas and three weeks away from a new year. This is the time factories hopefully are cranking out last minute orders before the holiday shutdowns. This is the time retailers are trying to grab those last minute sales hoping to finish the year strong. And this is the time sales and sales management are review... Read More
Comments (0)Nebraska Furniture Mart: Bold New Bet On The Future of Furniture Retail
This week it was announced that Nebraska Furniture Mart will be building a new store North of Dallas. Even by Texas standards this is going to be a big one --- 1.2 million square feet of warehouse, 546,000 square feet of showroom, and 25,000 square feet of corporate office space. In this age of Internet retailer's rapid growth and traditional furniture retailer's contraction, Irv and Ron Blumkin... Read More
Comments (4)October 2011 Market Follow Up
After spending a week in High Point with friends in the furniture industry, I have the following observations and information:1. It did not seem to be as crowded in the Main Buildings as elevators were easily accessible. That may be because the market is spread out. It may be that some retailers come in on varied schedules so everyone is not there at the same time. Or unfortunately, there just... Read More
Comments (7)Market Seminars Are a Great Way to Learn How to Improve Your Business - Both for Retailers and For Reps
With market coming up this week hopefully you have your appointments organized and your IHFRA rep pin* packed for easy access at all market buildings. I know there are always down times during market because many dealers do not come in according to plan. So I have a suggestion for this market...Take a look at the market seminar schedule published in Furniture Today (http://www.furnituretoday.com... Read More
Comments (0)I Vote for Herman
I rarely, if ever, like to talk politics. But frankly, the next election will be important as our country tries to shake off a lethargic economic environment. I am not going to discuss whether the Buffet Rule is good or bad or if the amount of regulation strangling business is the cause of the malaise.I have watched two out of the three Republican debates to try and figure out if there will be a... Read More
Comments (7)Wal-Mart Revives Layaway
Reading the Wall Street Journal this morning, Wal-Mart, the largest retailer in the country, has had customer requests to revive their layaway plan that was cancelled five years ago. A layaway plan of course is where a customer makes payment on merchandise and picks it up after it is paid for. In Wal-Mart's case, the customers will have to have it all paid for by December 16 in order to get the... Read More
Comments (2)Is the End Of Summer A Great Time For Your Furniture Business?
With Labor Day holiday this weekend, mindsets of business people and consumers begin to shift away from summer vacations and back to work. Traditionally this spells a better selling season for the furniture industry than the summer season. But we are fighting some headwinds:• Kids head back to school and parents realize they have extra expenses due to books, tuitions, or clothes and less discret... Read More
Comments (5)Money Is Moving Around: Now If It Would Only Move My Way
Yesterday the stock market tumbled over 600 points. The national news media has their big story and getting everyone all excited about how much value was lost. But if you think about it, there were some very smart or lucky people who were on the other side of the trade that made 600 points, because for every seller there had to be a buyer. So you could look at this stock market as an awful hit... Read More
Comments (6)"Change Before You Have To"
Jack Welch, former General Electric boss, was attributed the above quote. Mr. Welch presided over this international industrial powerhouse in their period of growth and domination. In the period of time that he was at the helm of GE, they were the biggest players in their markets, and if they were not, they would change or get out.As we enter the summer doldrums, I've been thinking about change qu... Read More
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