Working together to build strength
Cinde W. Ingram -- Casual Living, 9/13/2011 7:28:15 AM
IN PREPARATION FOR OUR SEPTEMBER ISSUE, the International Casual Furnishings Association's executive committee took time to reflect on the industry's health going into the crucial Casual Market in Chicago. They shared their perspectives with me and with you, via a feature in this issue.
Each of these industry veterans had already experienced the Preview Show in July and had witnessed the shaky stock market conditions in August as they considered my questions. Their answers, based on the economic backdrop, ranged from "very challenged" and "just OK" to "improving" and "getting better."
As always, we're an optimistic industry filled with survivors of economic nosedives, the flattened housing market and other challenges since the stock market went on its roller-coaster ride during the September 2008 Casual Market. In addition to survivors, there are a few vendors showing in Chicago for the first time.
Those of you who are industry veterans may be recalling the events that occurred 10 years ago during what would have been the September 2001 market in Chicago. Much has happened since that time, both in the United States and around the world.
While consumers retracted and altered their spending behaviors during the prolonged economic downturn, there is sustained movement toward purchasing products with lasting value.
Price, comfort, quality and style are the four most important factors cited by consumers when choosing outdoor furniture, according to their responses to the most recent Casual Living and HGTV Outdoor Spaces survey.
As far as retailers go, tight inventory control has become the norm. Another commonality among today's retailers is working more closely with vendors that offer quick turn-around on special orders and reorders. One Apollo Award nominee commented that it does no one any good to have a warehouse full of furniture that won't sell.
It's a bit of a challenge to pick the right styles, price points and colors to entice consumers to invest in their outdoor spaces. It's still another challenge to make sure the product is available to meet demand when needed. To overcome those inherent challenges and reap profits from opportunities as consumers expand living areas beyond the walls of their homes will require retailers cooperating with manufacturers and working together toward a stronger industry.
When we meet at Chicago's Merchandise Mart, I hope we all will be able to predict healthier days ahead for the casual industry.
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