MERCHANDISING
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Merchandising Strategies
for a Successful Business In Today’s Consumer Environment By Bob Moorman
What does today’s consumer really want when it comes to buying furniture? Are their needs changing? How are we, as retailers, to respond to everything going on around us and with our customers?
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have the advantage of observing first-hand many stores throughout the U.S. and sometimes overseas. One thing I am seeing is that more attention is being paid to the nature of merchandise a furniture retailer is showing on their showroom floor. Today’s smart furniture retailer is doing his or her homework and learning more about the markets they do business in; they understand who is coming into their store. I was visiting a furniture retailer recently who is a client of mine. We had developed their “War Room”, an area or room where every piece of furniture in major categories is photographed and placed by category on a wall. Now I realize anyone can do this, but here is the difference. This retailer, in his upholstery category, is carefully constructing an assortment that targets his market and he is ensuring he has a store that offers diversity along with a strong value proposition. He has identified his opening price point range, his mid-range and his high-end pricing range. He is
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planning 30 percent of all his SKU’s in opening price points, 50 percent of his SKU’s in the mid-range and 20 percent of all his SKU’s in the high-end range. He also looks at the number of two-cushion sofas, three-cushions, loose back, semi-attached, etc. Once that process is complete, he then started a trend analysis, what color pallets will be displayed (solid fabrications versus patterns) and finally the scale or size of the furniture. I have been asked several times about the trend in furniture size or scale that a furniture retailer should carry today. We know that in markets with older homes from the first half of the 20th century, rooms tend to be smaller although there are exceptions to everything. The trend just a few years ago, prior to our economic slow down, was bigger is better. We know some baby-boomers are downsizing from their “mega mansions” where they can actually sell them. These baby boomers will buy smaller homes and will most likely have to Contact WHFA at www.WHFA.org or (800) 422-3778