Liking to have a bit of feel for the marketplace and starting to understand the dynamics of Casual Furniture it is no wonder all of these companies here are whining about how bad specialty retail is and how the big box guys are taking over. Hearth and Home magazine has a number of company profiles in their show edition.
The funny thing, not one of these companies mentions targeting a younger more vibrant consumer. Even more interesting is that only 1 of the companies makes mention of "eco friendly" products as an emerging category.
Maybe I'm way off here but last time I checked Baby Boomers weren't spending a lot of money on their homes, in fact many as they grow older were down sizing or using their disposable income for travel - cruises, RV, or going to see their grandchildren...
Exhibit 1 - 3 "different" wicker and rattan brands pictured below. See if you can tell a difference in the product....
Exhibit 2 - Traditional "Teak" furnishings. Again 3 different companies...
And there are 2 full floors of temporary exhibits as well as 3 floors of permanent showrooms all with the EXACT same products. How can a specialty retailer in any sector of consumer goods be expected to compete with a large national chain when all they are battling over is the same consumer, same pricepoints, and same products...?
A specialty retailer is just that - Specialized. But when an industry of manufacturers all make the same stuff and there is no significant point of differentiation (branding, pricing, products, etc) for the specialty retailer and more importantly the consumer these guys just can't compete.
I just don't get it?
I guess the only plausible answer is Maku! I mentioned in an earlier post that we pretty much stick out like a sore thumb at this show - an oasis of cool in a Kook-e-cutter desert... The good news there are retailers here that "get it" and understand they need more specialized products to attract and retain their customer base. A customer base (Insert Gen x) that is younger, more contemporary, vibrant, and passionate about living but most importantly has a substantial disposable income and wants to take their house and turn it into a home.
Hopefully they will all buy Maku...
Stay tuned for day 3 rantings on the show.
1 comment:
I think the specialty retailers need to do a better job of marketing themselves. Some people can only afford what's in Target, which is fine.
For consumers who want to be different (many of them) AND can afford it, specialty retailers need to step up and say "We're here for you!!!"
I buy my surfboards from a surf shop, my bikes from a bike shop and my cars from an auto-dealer. I care about each one, how it looks, performs and the service I get when I go back.
If I buy my outdoor table from a store that also sells paper towels and VCR cables, will I get similar service when a leg proves faulty?
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