High Point Market Authority Pre-Market Report

Furniture World Magazine

The High Point Market Authority announced that the spring 2009 Pre-Market exceeded the expectations of the event’s 23 sponsoring manufacturers, and provided 135 buyers representing 63 prominent retail companies with an opportunity to preview product, secure distribution and strengthen relationships with key vendors. They reported that both manufacturers and retailers who participated in the event this week said that event has afforded them distinct competitive advantage as they head into Market next month, and provided the following quotes from retailers and manufacturers that participated. “The concept—to capture the attention of more than 60 of the most prominent retailers in the country—is excellent,” says Page Wilson, vice president, sales and marketing, Pulaski Furniture. “I don’t know that we could make a better investment. To see such a select group of quality retailers in High Point in two days is a great thing. It would cost us a fortune to travel around and see all of these people, and it would take months.” Says Greg Noe, president of Samuel Lawrence, who experienced Pre-Market as a sponsor for the first time this week, “While I have opened my showroom for Pre-Market in the past, I’ve never had the participation I had this time. We saw a lot of major accounts and everyone was very positive and upbeat about the whole event which was very well organized. It was very beneficial for us, because we are now able to cut several things we previewed, which gives us 12 weeks on everyone else.” “The event couldn’t have been better, and it’s because of the caliber of retailers that are attending,” reports Bill Sibbick, vice president sales, A.R.T. Furniture Inc. “They are getting a preview of the product, and from our standpoint, it’s another chance to get in front of them. It’s helping both of us build the relationship.” “At a time when the stakes have never been higher for home furnishings companies, quality, face-to-face interaction with key partners is more essential than ever,” says Brian D. Casey, president and chief executive officer of the High Point Market Authority, who serves as spokesperson for the event’s sponsors. “This week’s event provided industry leaders with an opportunity to come together in advance of Market, not only to preview and tweak product, but to discuss ideas and solutions that speak to the realities of the marketplace now.” “Pre-Market is a chance to communicate a little more intimately with your large dealers,” says Steve Kincaid, president of Kincaid Furniture, and Lee Boone, president of Legacy Classic agrees. “Pre-Market gives the manufacturer and the retailer good quality time to sit down, without all the rush and pressures of Market, to have an honest and productive conversation, to really connect.” “To get to work one-on-one with the quality of retailers in attendance, without the frantic pace of Market, really is invaluable,” says Bryan Edwards, vice president of sales, Eastern region, AspenHome. “Pre-Market is the only time we have such an opportunity to talk more strategically with them, in true partnership mode, and I really cherish that.” Josh Tatelman, merchandise strategy manager, Jordan’s Furniture, says, “Pre-Market is a great opportunity to get face-time with some of the key individuals on the supply side to really talk about current and future business needs. We talk about product and merchandise and everything else, but to me, it’s about building and establishing relationships.” “Relationships have always been important in the furniture industry, but in today’s environment, with business the way that it is, they are more important than ever,” says John Labarowski, president, Hammary Furniture. “Retailers are searching for ways to differentiate themselves from the competition, whether it’s through product, display or advertising, and they are looking for someone that they can partner with who they can be sure will be here six months from now, who will be able to support them during trying times. Pre-Market gives them an opportunity to talk to the principles of a variety of companies that they do business with, and it also gives them an opportunity to talk to their peer group. Here, everybody gets together and talks about their businesses…about how we can all improve.” “Pre-Market is a benefit for the factories and for us,” says retailer Bruce Sprintz, president, Sprintz Furniture. “It gives us a preview of what each of the factories will present next month, and a chance to give them some input on the products that are relevant to our marketplace. The manufacturers are able to tweak and adapt the products to make them more saleable for us, so it’s beneficial for all concerned.” Roy Davis, co-owner, Jesup Furniture, relates, “Pre-Market eases my anxiety about Market, because participating gives me more time during Market to concentrate on buying.” “Pre-Market is important to us because we can get with vendors, make some decisions and secure some items that we need to be competitive in our marketplace,” says Chuck Lovelady, buyer, BF Meyers Furniture. Leslie Whitehouse, buyer for Cherry House echoes the refrain: “I get an advance look at product and I can commit early and get exclusives. Plus, it frees up time during to Market to look at new things that I wouldn’t otherwise have time to see.” Alan Cramer, vice president, merchandising, Star Furniture, adds, “It really makes our Market a lot easier to have a good idea about what some of the major collections are, so that when we come to Market we can really focus on buying things to go with the major collections.” “Pre-Market was meaningful for us because we took a decidedly different approach to product development for this Market cycle,” says Legacy’s Boone. “We did some product trips six months ago and a lot of research in the marketplace, visiting retailers, talking with retail sales associates, and we made a list of common themes. That list included more casual and relaxed finishes, the importance of full-extension metal side guides on drawers, the importance of function in everyday items, along with major themes like the compression of price points, and customers looking for sharper and sharper value. We worked to incorporate all of these themes, and for the first time, showed all of the new product together in one area of the showroom, where we told the story of how we had approached this Market. Then, we waited. We thought it would work, but we really didn’t know.” The executive continues, “The customers we saw at Pre-Market completely validated our approach. They told us that we’re on the right track and we feel very good about going into Spring Market. It’s given us affirmation that we’ve got a good plan to help dealers get consumers back into the marketplace, and we’ve got some wind in our sails.” Aspenhome’s Edwards is experiencing a similar lift following the Pre-Market experience. “Now that we’ve got buy-in from Pre-Market on a very important collection for us, I feel like we’ve got a tailwind,” he says. “It’s given us more confidence to pull the trigger sooner, and it’s renewed our confidence that we’re going to have a great Market.” The High Point Market Authority is the official sponsor of the High Point Market in High Point, North Carolina. Featuring an extensive selection of exhibitors spanning every category, style and price point and attracting thousands of visitors from more than 110 countries twice each year, the High Point Market is the driving force of the home furnishings industry.