Furniture Biz 101
Jim Green Hi, I’m Jim Green, author of the three volume set of books on the retail furniture business, Furniture Retailing 101 . The set of books looks at the industry from a newcomer’s perspective and covers the fundamentals and basics of nearly every aspect of furniture retailing. Though it has been written for the novice, I believe the book set will have real value to individuals entering the business from other industries, journalists, analysts, manufacturing executives and representatives and anyone with an interest in learning more about our industry. I have over 30 years experience in both the supply and retail sides of the furniture business, and hold an MBA in Management. In this Web log I will write about some of the more basic and rudimentary aspects of our business and present observations of some of what I have learned over the past three decades. Visit my web site at www.furnitureindustry101.com . Contact me at jim@furnitureindustry101.com or phone 727 347-1201.
A Week From Hell
I had a week that I would just as soon forget. On Sunday I learned that I had pneumonia and that the pneumonia contributed to my having a heart attack. It’s complicated. Don’t ask. What’s crazy is that I didn’t know I had either. I felt perfectly fine before this all took place, while it took place (except for some heavy sweating), after it took place, and I feel great ...... Read More
Comments (0)2010
I just read Jerry Epperson’s piece written for his company’s monthly furniture business report, “The Furnishings Digest Newsletter” for November, 2009. In it he recaps the recent High Point furniture market and the furniture business in general. He outlined why he felt that business for our industry would likely not begin to rebound significantly until August, 2010.He s ...... Read More
Comments (8)Jerry Lewis and the Furniture Business
I watched a bit of the Jerry Lewis Telethon for Muscular Dystrophy over the Labor Day weekend. The man, at 84 years of age has created an enviable legacy for himself over the last 50 years in the donations he has raised and indeed the lives he has been instrumental in prolonging. Love him or loath him, he understands one thing that has been at the core of his success as a fundraiser. He is unafrai ...... Read More
Comments (0)Controversy 2
Several weeks ago in this blog I wrote a piece called “Controversy”. I posed several controversial questions and asked readers to weigh in with their views. I found the readers’ responses to be thoughtful and cogent. I would like to pose another few questions that may be controversial to those reading this post and again, I welcome your responses. Furniture manufacturers have ...... Read More
Comments (2)Needs and Wants
Publix is a familiar name in supermarkets in the Southeastern United States. It was just announced that in their second quarter of 2009, revenues were up marginally (+3%) as were profits. In this ultra difficult economic period when so many businesses are struggling, here is one firm that is actually doing relatively well.If you stop and reflect on it though, this company should be doing well. We ...... Read More
Comments (1)Controversy
I was discussing the blogs on the Furniture/Today web site recently with an F/T staffer and asked his opinion. Why does he think some blogs seem to have greater response from their readers than other blogs? The staffer felt that when the topics are more controversial, readers tend to write responses more than when the issues are more benign. That makes sense. I suppose part of the equation may be ...... Read More
Comments (8)New Dogs and New Tricks
I have been in the furniture business since 1975. I mention this only to assert that once, I was a new dog, not the old one I am now. I was young, ambitious, aggressive, and knew squat about the furniture business. I was long on ideas and short on anything to base them on. I remember vividly one of my earlier bosses telling me that I should just do the job for which I was hired and stop trying to ...... Read More
Comments (3)Old Dogs and Old Tricks
Does this sound familiar? You are a furniture retailer who knows how to jump on a good idea. You hear about a promotional strategy another retailer in the country has used which has been wildly successful. You marshal your forces, learn as much as you can about the strategy and its execution, and using what you have learned, emulate the tactics and present your version of the uber-exciting promoti ...... Read More
Comments (2)New Dogs and Old Tricks
In my last post I spoke to the point that, especially at the upper end of the furniture-retailing spectrum, consumers are buying furniture that is “Good Enough”; that many customers are still buying, they are just buying products that are less expensive but still meet their needs. The retail buyer who might have spent $3,000 four years ago for a sofa, today may spend $1,600 because i ...... Read More
Comments (5)Memo to Upper-End Retailers
These are a few indisputable facts and two conclusions. One conclusion is fairly obvious. The second, while unconventional just might ring cash registers through the use of a highly effective strategy borrowed from another industry.Fact: The furniture industry is in a deep recession (not exactly breaking news). Fact: Many consumers, particularly at the better end of the spectrum are buying merchan ...... Read More
Comments (7)Fresh Eyes and Open Minds
I do consulting work for retailers and manufacturers. Clearly, 2008-2009 is and has been, for many, a difficult time to be in the furniture business. Last week, I worked with the management team of a top 100 furniture retailer and had an incredibly great session. In consulting with clients, I have some advantages they might not possess.1. I am not intimately, evenly closely involved in their busin ...... Read More
Comments (4)Retailers' Web Sites...Assets or Liabilities?
I am a computer moron. I admit it. Amazingly though, I do go on-line to research purchases I am thinking of making. In the furniture industry, research shows that 60% of potential buyers do likewise. I never thought I would develop such skills.I recently went on the web sites of four top 100 retailers to do a little research. I posed this proposition: “What if I were in the market for a liv ...... Read More
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