So, what happens if you couldn’t make it to market?  Do you know what new things are being introduced?

Here is a 2011 recap of Winter Market from The World Market Center in Las Vegas, Nevada.

Bedding Since bedding has become a bigger part of the mainstream furniture industry in the recent years Vegas had the luxury to attract bedding manufacturers from all price points and sizes.  This emphasis was never more evident than this year where in the front entry way there was a display of 10 different bedding manufacturers.  Couple that with an ending show that utilized aerial dancers jumping on mattresses and it was evident that bedding is top of mind when it comes to retail.

Marketing Most manufacturers were debuting new looks when it comes to marketing their products—not models, frames or coil count.

Sealy introduced their new ad campaign “Whatever you do in bed, Sealy supports it”.
Kingsdown introduced a new marketing mechanism utilizing their Sleep to Live technology.  If the sleep number for the consumer does not match up with the sleep to live product lineup in a retailer’s showroom then they would suggest a competing product carried by the retailer.  How is that for authenticity?

Young Guns For the third straight market in a row there was meeting held for the group “Next Generation Now” which is a collection of retailers who transitioned from their parent generations during the 80’s and the developing boom that is about to happen with the mass of young people ages 20-30 in the furniture industry.  David Lively, owner of The Lively Merchant and member of the Family Business Institute, spoke about the generational shift that is currently happening in our culture and how it will shape the future of the furniture industry and the world.  Following that presentation a cocktail reception was held with the group and it was great to see young and old bonding together to move this industry forward.

Social Media Again this was a huge buzz around the market and it seemed it was the hot button regarding moving the needle forward in today’s economic environment.  Seminars conducted by Julia Rosien & Crystal Vilkaitis showcased how these mediums are evolving the industry and the people who operate it.  With the upcoming Home Furnishings Industry Conference focusing on fostering relationships and the upcoming issue of Western Retailer magazine talking about social media, social media is here to stay.

All in all this was an exciting market in an exciting time for the furniture industry.

Need feedback or insights from market?

Contact Kyle Doran or Kevin Doran and we will talk to you about these trends and how you can apply these trends to your business today.

The most important marketing advice I learned from him was at a grocery store in Hazard, Ky. He had just constructed a display of baked beans. There must have been 1,000 cans in front of a barn my mother had drawn for his baked bean ho down. They were priced at 6 cans for 50 cents or 10 cents each. A lady with four kids came up to the display. She said to my father, “I want to buy 6 cans to get the price but I only need 3 cans on my weekly grocery budget”. My Father told the women, “Take this paper with my name on it to the cashier. She will sell you 3 cans for 25 cents, and here is another piece of paper for 3 more cans at 25 cents for your next trip.” That was the reaction I expected from my father, but the words he spoke to me that day still ring true today. “What a customer wants is very important, but meeting their needs makes a customer for life.”

Meeting the needs of customers in good times and bad times is important for all retailers. Our customers’ needs have never been greater than in today’s economic environment. Here are a few examples:

• We know you need a good night’s sleep after working that second job just to make ends meet! That’s why you can save an additional 20% off the sale price on our complete selection of mattresses!
• You need to replace that washer that sounds like a cement mixer but you have no cash and can’t afford the interest charges on your credit card. That’s why we’ll pay all the interest charges for 2 years with a low monthly payment. You don’t even need any money down.

You get the idea….you are not holding a sale to just shove product down your customers’ throats. Think of it as benefit you are offering customers by meeting their needs, and you may just win a customer for life.

As a side note, my father was a member of the “Greatest Generation” or what is referred to as the Civic Generation. The Civic Generation repeats itself every 80 years. That means my sons are also the Civic Generation, or as they are commonly called, Millenniums. To find out how the transfer of leadership to the next Civic Generation will be one of the most exciting times for the world of retailing, I encourage you to contact an expert in the field of generational transfer, David Lively. David can be contacted at www.thelivelymerchant.com.