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Factoring companies serving the furniture industry had pretty migeof decent reviews for business in this year’s second half. While all said they met expectations, in some cases those expectations were fairly low. Others said they did very well considering home furnishings sometimes lackluster performance at retail during the period.
“Interestingly enough, the second half lived up to expectations,” said Michael Hudgens, managing director and Southeast regional manager for CIT Commercial Services. “We came into 2016 with high expectations, but the first quarter was disappointing, just marginal growth, and we had the same in the second quarter. Our expectations for the second half of the year were not that great, China office desk manufacturer minor growth of a few percentage points versus the double digits we’d seen in 2014 and 2015.
“It’s hard to put a finger on the reasons—the economy, the election? I really don’t know. I do know that High Point Market was very positive, so, maybe the fourth quarter will surprise us all.”
Eagle Capital had a good second half of 2016. “We are proud to say that we have exceeded last year’s totals and are on track to show at least a 15% to 20% average growth margin throughout our client base,” said Kirk Donnell, sales manager at Eagle. “The new companies we have brought on this year are producing solid consistent numbers, and all have a very positive outlook for their growth potential in 2017.” He attributed Eagle’s strong growth this year to several factors.
“For one, although we are large enough to handle the China office partition manufacturer large volume accounts in the furniture industry, we are still small enough to maintain the personal touch of true financial partners that is so often lost in the banking and finance world,” Donnell said. “That partnership allows us to be flexible and not only celebrate the victories of our clients, but also to share the pains.
“We keep our eye on the industry the global market, the trends and the headlines so we are prepared for not only the industry trends but the unexpected opportunities. As simple and cliche as it sounds, we communicate with our clients often, and that level of communication prepares us to assist with just about anything our clients are faced with.” He credited clients with early recognition of problems at bankrupt carrier Hanjin shipping and their making appropriate changes in logistics, as well as communicating concerns with Eagle.
Lyon Credit Services saw its factoring business grow in 2016, but It was slow growth based upon Lyon continuing to add new clients.
“The strength that we have is in the balance of product we offer,” he said of the line, which features twin beds that retail from $299 to $449 and twin-over-twin bunk beds that retail from $599 to $899. “We have a nice China office furniture mix from rustic to sophisticated hung type groups. … We are covering a big spectrum for our retailers.” David Gingrich, senior vice president of multi-channel sales for Powell Home Fashions, said furniture business was good in the youth segment this year driven in large part by products in April and at the summer Las Vegas Market. This included new solid pine furniture the company Is sourcing out of Brazil, including a soccer themed bed that retails at $149 in twin. In addition to strong looks and values, he said, the Brazil product is available at shorter lead times than from Asia,although the company continues to source product China office chair manufacturer from Vietnam, including two new bunk beds shown in October that retail at $299 for a twin over twin.
He said this year the company saw its strongest growth among existing Top 100 accounts, but also had about one-fourth of its growth in the category from new customers, including those drawn to the Brazil product.
Looking forward, youth resources said they are largely optimistic about the year ahead, particularly with the election over and strong economic indicators on the horizon. “I think it is going to be a better year for youth and the China office sofa factory industry in general — we are looking at a very good 2017,” said Jeff Scheffer, of Universal. “All the data, whether you are looking at employment, consumer confidence or housing are all good, and that historically has boded very well for furniture.”
Devine, of NE Kids, expects 2017 to be a major growth year. “We have some strong branding initiatives that will benefit us as we go into the first part of 2017, and I think a lot of what we have built in 2016 will benefit us in 2017,” he said, noting that the company had particularly strong reaction to its fall introductions. I think we have a nice stage set.” He added that the company also plans to update some other inline groups to help make them even more relevant at retail.
“We are constantly evaluating where we are and where our product is to improve things for our retailers and their customers, with an eye on growth.” Gingrich, of Powell, said the company expects a strong 2017 in the category. “The economy is still in recovery mode, interest rates are low, and wages are creeping up. We are expecting good things in 2017.”
This year, youth resource Stone & Leigh, a division of Stanley Furniture, boosted Its marketing efforts to Millennial customers through a digital marketing campaign launched in May. Through this campaign, it posts banner ads on Facebook and mobile phone screens of young moms or moms-to-be who may be in the market for youth furniture. The company mails a consumer who clicks on those migeof ads a catalog that also bears the name of the retailer in their area that carries the line. The store mentioned in the circular has displays that mirror the images in the catalog so the consumer knows what to expect during their visit.
Interest in the youth line helped bolster sales during the third quarter Stanley noted in a recent quarterly report The company also used the October market to bolster the line with 94 new items spread across five existing groups. These products China office desk manufacturer along with inline pieces will continue to play a role in the company’s digital marketing campaign moving forward officials said.
Legacy Classic Kids also reported its youth business was up over last year much of which was driven by product in existing collections, as well as its licensed Wendy Bellissimo line, said Don Essenberg president. “The majority of our business this year has been with product we have introduced the last couple of years: he said, noting that the division continues to do the bulk of its business at traditional furniture stores versus youth specialty stores.
The challenge, he said, relates to the location of the youth displays China office partition manufacturer at retail and the fact that many youth departments are not expanding to absorb more product. “It makes it difficult to add collections to your assortment, he noted of the defined square foot age for the category at retail. In the year ahead, Essenberg said the company will focus on developing product geared towards specific youth lifestyles.
Doug Devine, president of Hillsdale Furniture’s youth division NE Kids, said that one of the big drivers of business for the youth bedroom resource this year was the completion of a move from its former Virginia warehouse into Hilisdale’s new 650,000-square-foot warehouse in Kentucky, where Hilisdale is based. He said the move effectively allows NE Kids to double its amount of product it keeps in stock. “Our business definitely took off for us,” Devine said. “We made positive strides with existing and new retailers that hadn’t bought from us in Virginia.”
He said the company’s balance of styles across 10 collections also helped drive business among its customer base.
Outside of the abatement of negativity associated with the election, several manufacturers are considering how possible policies might shape the business environment in 2017. Len Burke, vice president at Klaussner Home Furnishings, said that after an expected softening of regulations, he doesn’t expect further impact from the election and that Klaussner will focus on its core collections. “We will continue to expand our two licensed collections by Trisha Yearwood and William Mangum with not only new product offering but also with effective marketing China office furniture manufacturer tools that will assist our retail partners in marketing to their consumers,” Burke said. “The challenge we face as a leading solutions provider is to create excitement across multiple categories. We are able to do that with our licensed collections by offering great product with a great story that creates emotions, which drives sales.” George Jordan, president at The MT Company, said that policies could be a positive business development but that the effect might not be immediate.
“Lowering corporate taxes and reducing regulation will likely put more money in the pockets of potential customers, but the timing may not impact anyone until 2018,” Jordan said. “Our business is fairly steady but we’d like it to grow more, so we are rolling out promotions in top-selling items for the end of Q4 and early2Ol7.”
Some of the initiatives at The MT Company include emphasis on performance fabrics, sectionals, swivels and “everything tufted,”Jordan said. “Pricing sensitivity continues to be a challenge for many retailers, so we are in the process of adding more fabrics on the less-expensive end of the spectrum,” Jordan said. “Many of those will be performance.” At Universal Furniture, the election isn’t expected to have any significant impact on 2017 projects, according to Jeff Scheffer, president.
“The biggest impact will be less talk around the water cooler,” Scheffer said. “I think most are happy it’s finally over. We believe we’ve set the table for another good year, and our focus continues to be on executing our strategy China conference desk manufacturer and being the easiest company our customers transact with.” Neil MacKenzie, director of marketing at Universal, said that Universal and Smart stuff brands have common approaches to supporting retail partners. “We’ve continued to enhance the quality of our photography to ensure it can support local advertising efforts online and through social as well as more traditional forms of media,” MacKene said.
“We’ve also increased our investment in our website and social media to better support dealers and provide them with content to leverage at the local level. And we are looking to provide enhanced technology tools to retailers to better support conversations in-store with the retailer and consumer, ultimately helping aid the sale.”
Craftrnaster will also continue to upgrade its website in 2017, Calcagne said. The upgrade is part of an effort to help consumers pre-shop the line before being directed to the company’s retail partners through the dealer locator. Guangzhou big executive chair factory Additionally, the company plans to increase production to support its Quick Ship program. “The dealers have asked for new styles, so we have added six new groups this past market,” Calcagne said. “These 16 groups are the go-to frames for high volume and quick turnaround and typically ship within 48 hours. We will be expanding production once again as we continue to grow to maintain our two-to-four week turnaround on all custom orders.”
Steve Noble, vice president at Old Hickory Tannery said that 2016 mirrored previous election years. He added that Old Hickory is focusing on creating original products that offer retailers unique looks for the floor.
“Every election has an impact in the beginning in a negative way.” Noble Guangzhou office furniture said. “For some reason, business always tends to slow up in an election year but once everyone realizes “Chicken Little style” that the sky is not going to fall, order is restored, and business tends to find its normal place. Once the unknown is known, everything settles and becomes stable again.” Although Old Hickory Tannery made the decision not to show at markets a year ago, the company remains committed to introducing its product to retailers. Noble said the approach of inviting buyers to the factory has worked well. we told our dealer base, this (not showing at market) saves us over a million dollars a year,” Noble said. “That helps in giving them deeper discounts on stock and special ordered items. We have our dealer base come to the factory and we put together product here where China office chair manufacturer we have so much we cannot take to a show room.
“And even though we are not showing in High Point, we are still continually creating new product throughout the year as opposed to twice a year. We are able to create items for our dealers that hit their selling demographic and not just build samples for a market hoping it fulfills every selling demographic.” Norwalk Furniture launched a major collection with Company C in 2016 despite the negative rhetoric surrounding the election. Norwalk President Caroline Hipple said that while the divisiveness created during the campaign was “unsettling and China office sofa manufacturer disconcerting,” she is remaining positive about the coming year. “We are not sure of what has been rhetoric and what has been real policy because we have a new administration with no prior performance to use to predict behavior,” Hipple said. “With all of that said I am counting on us. We as everyday people have to keep living thriving and making our homes our sanctuaries, and in times of stress, we can make them cozier and safer and more beautiful It is something we can control and in these times, we will look to act on things we can control.” Norwalk will continue to build on the lifestyle partnership with Company C in 2017, Hipple said. She noted that the 45-piece upholstery collection and 80-SKU fabric offering is curated to coordinate with rugs, bedding and decorative pillows, offering dealers the opportunity to present a colorful, cohesive lifestyle that is fresh and distinctive7 She believes that color will be a key trend in 2017 as an alternative to the linen looks that have permeated the market in recent seasons.
“We believe in the color theory,” she said. “It can brighten an otherwise glum world.” Norwalk is also emphasizing its performance story with fab rics from Crypton Home, Sunbrella and Revolution and offering a curated assortment of 160new patterns that range from “luxurious neutrals to Company C colors,” Hipple said. “Two key words for us at Norwalk come to mind for 2017—authenticity and sustainability,” said Hipple. “With the transparency of social media, we are seeing a developing desire for authenticity so we are working hard to bring our Norwalk story to life for our dealers and consumers.”
New year, new opportunities. After a second half of 2016 that migeof has been described as “brutal” by some, manufacturers are looking forward to 2017’s promise as a non-election year. Many of the company officials interviewed said that any decrease in negativity will uplift the consumer mindset, and they added that they are planning to offer upholstery options with stories that will help retailers persuade their customers to buy “I believe business conditions will improve now that the election is over,” said Roy Cakagne, president of Craftmaster Furniture. “No matter what side you are on, the decision is made, and now we can all move forward.”Calcagne noted that, at the time of this interview, Wall Street has China office desk manufacturer viewed the election results” in a positive manner.
“A stronger economy will help all, and that’s what I hope we will see with the new administration,” he said. Zack Taylor, president of Wesley Hall, agrees. UI think the entire world has been in a ‘wait and see’ state of trepidation, he said. “Now that we know our path, we can roll up our sleeves and get back at it.”
Taylor said that Wesley Hall has focused on its core message of “classic made current” and will capitalize on it even more in 2017. An aggressive launch of new silhouettes is planned, along with more information for dealers that will help China office partition manufacturer them dose transactions. “One word —inspiration,”
Taylor said. “We are pulling out all of the stops and offering innovative products with style and comfort—clean, tailored, modern textiles, leathers and silhouettes that allow someone the chance to revamp an entire room, or to simply replace that dated odd chair in the corner.”
As the motion upholstery category continues to grow, the search for the winning advantage heats up as major players jockey for position against price pressures and increased demand for customization, power functions and faster delivery. At the promotional to moderately priced levels, the mix of “bells and whistles in power functions has been the key driver in sales this year with China office furniture manufacturer suppliers moving quickly to integrate the power headrest function and, in the second half of the year, to more aggressively add value with premium leather covers as leather prices remained low.
Mike Campbell, president and CEO of N.C.-based stationary and motion supplier Leather Italia USA, said he has seen high demand for leather and distinct move away from synthetic From importers to domestic manufacturers, the natural cover had a big presence during October High Point Market and big impact with imports using premium leather to up the ante in what has been characterized by some China conference desk manufacturer suppliers as a pricing war in imported motion upholstery. “The recent price war created by China motion manufacturers will definitely cause a competitive challenge and negatively affect 2017 volume,” said Randy Spaic CEO of Mississippi-based American Furniture Manufacturing.” Spak said American’s motion business experienced “very modest growth in 2016 in spite of difficult retail business conditions : overall” and expected that the power headrest will be a factor in generating growth for the coming year.
Power functions are wide spread in motion groups and recliners and continue to overtake manual mechanisms in sales and floor space, and the power head rest has been a winner in 2016. Getting honorable mention as a new Guangzhou negotiation desk provider or improved function that may get more attention in 2017 is the power lumbar support, found at Klaussner and Southern Motion in the spring and at Flexsteel Ind. and Franklin Corp. in the fall. “The year is finishing up fairly well for us even as we continue to face challenges with Chinese importers,” said Chuck Tidwell, vice president of merchandising and product development at Franklin. “Our answer to those challenges and our direction is to continue selling our strengths as a vertically integrated manufacturer with a true American-made story that delivers value with the full package of better styling cover to frame, innovation and the ability to deliver four categories of furniture on one truck Dealers are starting to see that its not all about price.”
In addition to offering a gamut of styles, Coast to Coast has moved toward a more collection-oriented approach in occasional tables, offering not only cocktails and ends, but also accompanying pieces such as bookshelves China office furniture and media cabinets to round out the selection.
Retailers “might just buy the bookcase and media piece instead of the tables, and we’ve had success with that,” Stein said “We’re doing fewer stand-alone table groups and doing more frill collections.” Coast to Coast will stick at its middle price points, covering a range of styles from traditional to transitional. “If you offer a really good look at a really good value, it will be successful,” Stein said “Because of our better/best strategy, you’ll see items from Hooker that will be true trend/style leaders in the upper price range along with items that; while very unique China office chair manufacturer and exciting are more value driven,” said Hook&Watson. “Regardless of the price point; innovations in design and material usage are leading the market today.” He added that, in 2017, occasional table buyers at Hooker will see things “that have never been seen before and will generate a lot of ‘ooh’s and aah’s’, along with a lot of sales for our retail partners.” Styles and function Mixed media in tables will continue to prevail regardless of price point or style next year Glass and metal, woven fibers plus treatments in stone should add some style chops to the basic wood table when it comes to complementing contemporary and transitional upholstery.
Another ongoing trend is a move toward “organic” looks with metal treatments replicating patterns and textures found in nature. Watch for more occasional vendors to offer function, as well Tables with casters allow consumers to accommodate their spaces for parties or family gatherings Lift tops on tables address those consumers who might be eating dinner in front of their televisions Storage function — such as a shelf beneath the top or a sliding top—will let consumers store magazines or gaming components. Some vendors say that if “it doesn’t move, China office sofa manufacturer it doesn’t sell” for a large part of the shopping populace.
Occasional tables typically reflect the entirety of home furnishings sales, and this year was no exception. For retailers, that means choosing an assortment of tables that jive with what’s moving on their floor when it comes to upholstery and related categories such as home entertainment. After all, everyone needs a place to put their feet while binge-watching their favorite shows on Netflix.
Occasional tables slightly outpaced overall home furnishings and bedding growth in 2016 in terms of sale.
According to Furniture Today’s research, overall industry migeof sales were up 2.7% this year to $1042 billion. Occasional tables rose 2.8% to $5.5 billion, representing 5% of total industry sales. While its share of market remained the same this year, occasional tables’ growth did not match performance in 2015, when the category grew 3.8%. Its no surprise that tables will follow trends in upholstery this coming year regarding not only price points but also style. Companies with a specialty in occasional naturally outpaced other vendors when it comes to growth in their table business. Hooker has enjoyed double digit growth in occasional tables in 2016,” said Pat Watson, vice president of merchandising at Hooker Furniture. China office desk manufacturer At Coast to Coast Imports occasional table business also out-paced overall industry growth, according to CEO Andy Stein. “It’s a growing category for us,” he said. “We don’t specialize in promotional price points, we’re in a medium price point where we offer a big value—a lot of look and style and substance. That’s our niche.” Drivers for next year Stein said the popularity of motion upholstery remains a big driver in the occasional table category and one that feeds into the importance of function when it comes to occasional.
“Especially if its a bigger piece, we’ll put hidden casters on it and make it ‘motion’ occasional,” he said of Coast to Coasts plans. “In general, we’ll be offering a lot of style and substance at the $299 to $399 range as opposed to $199 for a table; that’s what sells. The dealers aren’t focused on lower price points. Items used in the public areas in a home such as upholstery accidents and occasional tables always lead the way at the beginning of market expansion cycles, said Hooker Furniture’s Watson.
“Although it has been weak the market has been expanding this year so there should be natural expansion in the category,” he said. “Hooker has enjoyed better than average growth because of two things,” Watson said. “First, leading creativity from our merchant teams and manufacturing partners; and second, renewed focus on tying our occasional offerings with successful upholstered China office partition manufacturer goods from our Bradington Young Sam Moore and Hooker Upholstery divisions, as well as doing a better job of developing upholstery to go with occasional in our stand-alone collections.”
Home office performance relative to the industry in general was little more than flat in 2016, but for vendors and retailers really paying attention to the category when it comes to product development for the former and merchandising for the latter, it represents an opportunity for growth next year. According to Furniture Today market research, home office sales should increase to $6.49 billion Guangzhou office furniture manufacturer by year’s end, a 2.8% increase over 2015. That compares with an overall Industry increase of 2.7% in 2016 to $104.8 billion In furniture and bedding sales. Last year, home office sales were up 3.5%, compared with a 3.9% increase overall.
Home office’s share of the furniture and bedding business remained steady at 6% of total industry sales. As in home entertainment, modularity and space-friendliness that accommodates associated technology efficiently is a key in home office. Adjustable heights in desks remain another area of focus for vendors.
Home office is an exciting category at BDI. “Having an efficient work environment within your home has become a very important need to many consumers. Developing functional and efficient products, all with exceptional Guangzhou office conference desk manufacturer design that improves not only how you work but is better for you as well, is an area we excel in,” said BDI President Lori Kelley. “For example, our power stand/sit lift desks, which provide a large work surface of micro etched tempered glass. offer a height position tailored to your own needs at the touch of a button. The height is adjust able from 25- to 50-inches overall, and with four memorized pre-set heights that you determine, it is really customized to individual needs.
“There are so many opportunities in this important category of product that we believe we have only just tapped into.” Hooker Furniture Executive Vice President Hank Long said executive home office has slowed down somewhat in the China negotiation desk provider last two years but is still very significant because of the dollar volume that comes with a five-to six-piece sale for a dedicated office room.
Traditional styling remains the most popular style for (these) office products7 he said. Long anticipates growth from Hooker Furniture’s Work-well program of freestanding desks with matching file cabinets, bookcase and utility cabinets. “Freestanding desks are selling in all sizes with below 60-inches showing the fastest growth in this category” he said. “The new House Blend format will also drive growth in home office because of the flexible nature of this new category.”