Stock Issues with Furniture Manufacturers

This is the season for furniture to be out of stock with manufacturers. This is the hot season of furniture buying so demand gets higher than the supply. Especially the top selling goods go out of stock for a while. That’s why it’s important to stock product that you know you sell before the season to make sure you don’t lose out on any sales in which the customers aren’t willing to wait. Then that brings up the following question.

Updates on Retail Week 46 of 2018

90% of purchases are still in store. Stores offer faster gratification. Think instant gratification. Stores also offer easier returns in general. Stores like Dollar General and 5 below make shopping more fun. 5 Below is a store where they offer every item for five dollars or less. They now have 750 locations. Their profits are up six-fold. This is more for the treasure hunt style shopper where they don’t know what they want but they do want convenience and instant gratification. Their challenge is the online shoppers that know exactly what they want.  

 

Retail Stores That are Closing Locations 

 

Destination Maternity is set to close a hundred and seventeen stores this year and up to sixty seven next year. They expect over forty percent of their business to be online by the year 2022. They currently are using the Amazon Marketplace.   

 

Lowe’s is also expected to close over fifty over there stores in North America, thirty one of those being in Canada. They’re already closing the Orchard Supply stores.  

 

The only store that we’re aware of that closed on Election Day is ModCloth.  

 

Sears will close forty stores next year.

38 Marketing and Advertising Ideas For Furniture Stores

1. Offer a $200 gift card for accessories or whatever you like.

2. Living Large in Smart Spaces instead of Small Spaces. This is great for apartment living.

3. Circulars

4. Handouts

5. Minisites

6. Digital Magazine & Text Strategy. A digital magazine or e-book that customers can receive by texting “barstools” to a number like 34832 for example.

7. Package deals to compete against cross-shopping and online sales.

8. Partner with real estate agents and developers to offer their customers a gift card to your furniture store.

9. Partner with apartment complexes and condominiums that can offer their customers gift cards to buy furniture at a discount. This provides their customers with an incentive to buy or rent there and furnish their home or apartment for less money.

10. Customize your advertisements according to the generations. Consider millennials who are starting to have kids and baby boomers that are having grandchildren.

11. Life Stage Marketing- similar to the generations. Market to customers based on whether they’re a first time home buyer, just married, having kids, and/or grandchildren.

12. Life Event Marketing

13. Social Media

14. Radio/TV

15. Billboards

16. Contests- ugly sofa contest for Halloween or come dress up and get a discount. Dress up as Santa Claus and get a discount. Raffle away free furniture in exchange for contact information and the type of furniture they like.

17. Digital Kiosk

18. Email

19. Text/Call people that already visited, showed interest in something and gave you permission to contact them.

20. Run a package look for what you can get for $9.99 a week.

21. Upgrade your bed. Sell adjustable beds/power bases to people that don’t need a new mattress.

22. Free TV with purchase. 55” TV’s are the new 32”.

23. Half off on a $200 gift card

24. Get the names of people, their emails and phone numbers who don’t buy while in the store and online. Have a special event at night for them. Salespeople get a $50 off gift card to give each consumer who comes in.

25. Partner with vendors at local home shows that can sell furniture and accessories to their customers too.

26. Bring in a flyer for a chance to win if you have a lucky number. Match the number to win prizes. Post the winning numbers on signs throughout the store.

27. Announce new floor samples on social media. Offer a chance to beat the crowd for introductory savings. You can also use the same concept for a private letter event.

28. A chance to win a free cruise or a weekend at a local getaway.

29. When you buy a bedroom, you get your choice of recliner, chaise, or chair for the room.

30. Have a different handout at the door every week that features doorbusters.

31. Have the salespeople call customers to remind them to come in and see them for additional discounts. Give them each a $50 gift card to the people that come in.

32. Cash Cube- basically a bounce house that blows money into the air. As much as they grab, they get in-store credit with minimum purchase.

33. Do a food drive for Thanksgiving and promote in on social media.

34. Offer a free turkey with every sale over $499

35. At the end of December, bring in your kids’ report cards. 5% off kids bedroom for every A they received in certain subjects like math, science, history, and language.

36. Come into the store and test out our adjustable power base beds and post a video of you testing it in social media. If you buy the adjustable power base you get 2 free pillows and a new top of the bed.

37. Buy one, get one free.

38. Have an arts & crafts fair with vendors in the store on Saturday.

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