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Ross Beveridge, MD ARCHERS SLEEPCENTRE Stores: 12 Headcount: 67
LOOKING BACK The best deal we struck last year was interest-free credit where the finance provider pays us. I could tell you more, but I’d have to kill you … The biggest product trend in-store was fabric bedframes with tall headboards, and a broad selection of grey textured fabrics. Over 20% of all bedframes and divans were sold with ottoman storage, and this continues to rise What changed most about the way people shop was more and more of them using credit. Previously less than 8% of our revenue was through finance – this figure now sits just over 20%, and firsttime buyers are investing in good-quality kit rather than budget beds What changed most about the way we sell was greatly increasing our marketing spend in very specific forms, which has proved successful – the year was a story of strong promotions and discounting to maintain market share What put us under most pressure was carrying out further shop refurbishments to our existing stores to support our move into a master bedroom product offering – coupled with lease negotiations and the red tape surrounding building warrant applications
THE YEAR WAS A STORY OF STRONG PROMOTIONS AND DISCOUNTING TO MAINTAIN MARKET SHARE
LOOKING AHEAD In 2020, I’m most looking forward to opening our new store in Straiton in Edinburgh The next product trend coming in-store is a wider variety of colours filtering through – blush, navy and lots of different textures from velvet to linens are being combined with metals (but I can’t see anything replacing grey fabrics quite yet) The product trend on its way out is the mattress in a box – surely we’ve seen through that one by now! Our tech priority is moving our website to a new shopping cart. As technology develops, there are only so many times you can create bolt-ons and adapt your existing cart with new functionality before it makes sense to change it The biggest challenge will be the development of our new website Knowing just how tough everyone is reported to be finding trade tells me it can only get better, and makes me hopeful for the industry’s future
WANT TO SHARE YOUR VIEWS, OR JOIN ONE OF OUR FEEDBACK PANELS? EMAIL THE EDITOR AT PAUL@GEARINGMEDIAGROUP.COM
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