I don’t believe in coincidences, but it seems we go from tragedy to catastrophe to disaster — almost as soon as one slows, the other starts. Trade negotiation tensions to pandemic to protests/disruptions without end, with the Presidential election only months away.
It seems like these are being done to create massive problems in an election year, but that is impossible, isn’t it?
At least the political ads are not overwhelming … yet.
There are thousands of opinions about how the current consumer distractions and restrictions will ultimately impact retail. There is general agreement that these stay-at-home orders have allowed online retailers to shine while undoubtedly damaging brick-and-mortars.
But is it permanent damage? The much speculated number of store closings says so, but looking at the public companies, many of the bankruptcies are in the apparel category that has really been hit hard. Not only are people not buying, they are staying home so they don’t need new stuff.
I keep thinking that there is nothing that gets people riled up like being told they cannot do or buy something. Being told they cannot go into stores might make them want to go more (I hope) and make them remember the fun of shopping.
The general assumption is that a huge number of Americans are still staying at home, not driving, not dining out, not going to theaters or sporting events, and not spending where they usually do. I hear many are refusing to return to work, too. I never knew I had that option.
Thus far, the furniture and mattress industries appear to be doing better than most consumer goods. When did you ever hear that?
Our mattress factories cannot make enough of the things right now. Overtime and extra days of production in mattresses? Yes, people are buying them, but remember we are no longer bringing mattresses in from the larger nations that we imported from last year, such as Vietnam, Cambodia, Malaysia, Serbia, Turkey and other countries.
Upholstered and wood furniture are doing well, too. Deferred demand? Staying at home creating demand? More money in the consumers’ pockets from not spending on gas, vehicles, travel, entertainment and such?
We are seeing housing demand increasing, and builders are trying to keep up. The average 30-year mortgage is about 3.2% and lower in some areas. Mortgage recapitalizations are growing again, saving consumers money.
Are you sitting down? Could 2021 be a great year for home-related spending like us, but sloppy for other consumer sectors? Do you want to get on a plane for a vacation now? Do you need more vehicles? I may not ever need another tuxedo!
Right now good prices, great value, good credit programs and high levels of service are doing well for us. Let’s hope it continues.
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July 13, 2020 at 08:43PM
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Blog: Could furniture be poised to outshine other consumer sectors? - Furniture Today
"furniture" - Google News
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