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David Perry

West, South offer growth opportunities, Retail Planning Guide suggests

Looking to expand your retail business in the next five years?

Order the 2006 Retail Planning Guide

You would be well advised to consider adding stores in the South and the West. Don’t even think about expanding in the Northeast or the Midwest.

Those are just a few of the fascinating insights you’ll find in our Retail Planning Guide 2006, which was our Christmas gift to our readers. (It was dated Dec. 26 and took the place of our regular issue that week. Click here to order an electronic copy.)

The issue has all sorts of goodies, and I’m not just talking about the insightful bedding outlook story on Page 48 which was written by … well, you can probably figure that one out. The work done by Easy Analytic Software Inc. and Furniture/Today’s market research is especially interesting.

Take the estimates of the projected growth in furniture and bedding sales from 2005 to 2010, for example. The research calls for a 23% jump in overall spending in that five-year time span. Two regions in the country will post stronger gains than the average, while two others will be below average.

The West is expected to see a 25% growth spurt, with the South just behind at 24%. The Northeast, on the other hand, is projected to achieve “only” a 19% gain, with the Midwest just one percentage point better, at 20%.

I was referencing those figures in the points I made at the beginning of the column. DISCLAIMER: Actual results may vary. Furniture/Today does not guarantee that all new stores opening in the West and South will be wildly successful, nor do we imply, infer, indicate or even hope that all new stores opening in the Northeast and Midwest will be laggards. Only you control your destiny, brave retailer.)

That disclaimer came from me, and not our legal department, just to set the record straight. But all kidding aside, the research that we share with you in the Retail Planning Guide is invaluable. Study this issue carefully. It will help you grow your business – and your profits – in the years to come.  (to add public comments click on "Add your Comment" below, or to email Dave directly click here.)