Most folks believe 2024 will be less than an inspirational year, likely to
deliver an uninspiring economy, a cringe-worthy political season and
disturbing world events. For these and other reasons, home furnishings
retailers seem ready to approach 2024 conservatively. Most will continue the
hard work they started during Covid to improve their systems, keep
inventories in line and invest in their people to get the most out of every
digital and in-store lead. It’s my guess that their marketing will focus on
mining lists of previous shoppers and past customers to bring people back
into stores to complete their next projects. Time-tested messaging,
including event promotions, will attract shoppers already in or about to
enter the market as dreamers or shoppers. In a business environment where
generating incremental traffic will be paramount, they will also work to
inspire new customers who have not previously considered them.
Bob Dylan said, “Inspiration is hard to come by. You have to take it where
you find it.” In 2024, shoppers will find inspiration in your stores and
your messaging or find it elsewhere.
Addressing that concern, design trend forecaster Michael Cleghorn points out
in this Furniture World issue that inspiring what he calls the decorator
category of customers will present the best opportunity for retailers to
improve their businesses in 2024.
He suggests that Furniture World readers might reach out to those
aspirational shoppers who currently shop at retailers like Crate & Barrel,
Jonathan Adler, RH, Target, Zara and the many emerging digital brands. These
operations, he points out, “have taken market share from more traditional
brick-and-mortar furniture store brands that appeal to a wide audience.”
Cleghorn believes that by offering shoppers an experience that “is more
specific, inspiring and tailored to their aspirations,” furniture retailers
will increase sales in the coming year. Read the interview on page six.
Another group of potential customers who might be encouraged to visit are
those who are making do with what they have. “When it comes to the spaces
they live and work in,” noted interior designer Gala Magriñá in the
September/October edition of Furniture World, “many people believe it’s okay
to spend most of their lives in subpar interior environments.” A key to
inspiring this group to visit stores and improve their spaces is to let them
know they deserve better. Appeal to their need to be healthier, sleep
better, be more comfortable and reduce their anxiety level in a troubled
outside world. Our industry is positioned to bring beauty and joy into
people’s lives. And there’s science to back this up (see
www.furninfo.com/furniture-world-articles/4063). People deserve better than
the home environments they’ve settled for. And perhaps all they need in 2024
is an inspirational push in the right direction to make them realize that.
Wishing you good retailing,
Russell Bienenstock
Editorial Director/CEO
russ@furninfo.com