Will 2017 Encourage Furniture Industry? – MIGE office furniture

Will 2017 Encourage Furniture Industry? – MIGE office furniture

|August 12, 2018 | News

Oscar Miskell a partner in Jackson, Miss.-based Miskelly Furniture, had a similar take, noting the “tax structure and rates proposed by the new administration will be extremely favorable to business. Its a very pro-business China office furniture environment for growth.” Miskelly is another retailer bucking the 2016 trend by posting solid sales, “not quitedouble digit but close,” he said. And for the most part business was “pretty even keel” all year, except of a couple of record-breaking promotion periods during the Memorial Day and Labor Day holidays.

The Mississippi retailer is taking advantage of the new found pro-business climate, planning to announce early this coming year its first new market store opening elsewhere in the state in 2018 during Miskelly’s 40th anniversary. “We are really China office chair manufacturer encouraged” about business prospects in 2017, he said. At a recent board meeting during which the company set long-term plans, the retailer projected 7% same-store sales growth this coming year. That’s would be similar to Miskelly’s gain this past year, when the retailer was even more conservative in its forecast. To get there, the company will need to continue “to define and reach our customer base in a new innovative way through social media,” Miskelty said.” The old way of advertising that we used for 35 years is gone forever. ”

The Facebooks, Instagrams and Pinterests are not an expensive endeavor, Guangzhou office sofa manufacturer but you”ll see a lot of digital, not much print and very targeted TV and other media buys,” he added. “The biggest challenge we”re all facing is how to reach not just the Millennial demographic but really (anyone who is online).” Prospects for 2017 Jerry Epperson, industry analyst and managing director of Richmond, Va-based Mann, Armistead & Epperson, Is forecasting a 4% increase in retail sale of furniture and bedding in 2016 and 4.5% gain in 2017. The 2016 forecast is more optimistic than the 2.7% projected by Furniture Today; nevertheless, Epperson characterized the year as “disappointing.” “The factors we needed to have a good year—housing, disposable income, consumer confidence—were up and encouraging, but consumers evidently had other things in mind because they just didn’t go into furniture stores.” He noted that even some of the pure-play e-commerce retailers were expressing disappointment that sales weren’t stronger in the furniture category relative to expectations.

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