TAMPA, Fla. – Ashley’s Kerry Lebensburger shares marketing insights with a select group of retailers and industry associates each week in a marketing update e-mail. His most recent edition shared experiences from previous inflationary periods that offer guideposts that retailers can use to prevent rising inflation from de-railing sales growth.
“The key to growing last time was to focus on the WHY people will buy, not the WHO will be buying, then to become the WHERE people will be buying by constantly promoting those things that you believe people NEED,” Lebensburger said.
Here are 7 key times consumers will need furniture, even in difficult economic times, that can provide additional sales and marketing opportunities for furniture retailers.
- Graduating from college, going to college … bundles, packages
- Getting married, getting divorced (although divorces dropped in the last recession as people could not afford to divorce) … renting apt/condo including outdoor balconies
- Getting a new job, moving to a new home ( includes outdoor furniture by the way)
- Having kids, kids aging needing new furniture and a new bed/mattress (size)
- Notice how mattresses and accents/accessories fit in every one of the four above
- Saw a lot of trade-in sales during the last recession ( every recliner/chair worth $100 towards the purchase of a new recliner or chair)
- Today you have the ability to re-target customers who bought from you with other things they might NEED to go with their recent purchase
I’m Bill McLoughlin, Editor in Chief at Furniture Today and Editorial Director for BridgeTower Media’s Home Furnishings Division. In the more than 25 years I’ve covered retail I’ve seen tremendous changes in the way people shop and the way companies serve the consumer. My goal is to share that experience and the insights gained along the way. This is an industry made great by its people and I look forward to meeting and conversing with as many of you as I can. Your comments are always welcome and encouraged.