The supply chain continues to dominate conversations, whether it’s manufacturing backlogs, container prices (the number $30,000 started circulating last week) or, most recently, shutdowns in key manufacturing regions. Vietnam last week extended its lockdown in Ho Chi Minh City and another 18 cities as well in an effort to contain what is by far the worst wave of COVID-19 infections that country has faced since the pandemic’s onset.
The most recent announcement is that the lockdown would be extended two weeks and comes on the heels of similar announcements in Malaysia throughout June. Even if that somewhat optimistic timeline turns out to be accurate, product availability out of Vietnam is likely to be pushed out an additional eight weeks, according to some suppliers.
Already the letters are starting to go out to retailers warning of additional delays and product shortages, often with an accompanying recommendation to pivot to merchandise that is in-stock. Remember when the talk this time of year used to be about the new on-trend colors, what categories were going to be strong at market or who had the hot new line?
Those were the good old days.
Want to know what’s on-trend today? Whatever is in stock.
Anyone who’s been in a store recently, and not just furniture stores, can see the impact of the global supply challenge written in empty shelves and gap-toothed selling floors. Good-better-best has been replaced by good enough, better than nothing and best I could find.
For many manufacturers today sourcing has become a Where’s Waldo-like hunt for capacity at scale. Countries that were once too pricey, too logistically challenged or too unsettled are getting a fresh look as the global scramble for goods appears likely to stretch into a second full year.
This isn’t to say that new product development is dead — far from it — or that you won’t find new colors styles and features among the products being shown at upcoming markets. You will. However, the gap between seeing something new and exciting and actually getting it delivered to your store remains, in many cases, a large one.
The good news is that consumer demand has remained solid, perhaps not at the levels seen last year around this time, but substantial nonetheless. And consumers, for the most part, appear either willing to wait or willing to buy their second or perhaps even third choice if the goods are available.
All of that is good news and hopefully takes some of the sting out of what continues to be a highly fluid and unnaturally fraught global sourcing environment. And while there is every reason to believe the situation will improve in the long term, the near term will remain a challenge.
At least through the end of the year, the hottest lines are likely to be those that are available for delivery and the answer to the question “What’s on trend?” is most likely to be what’s in stock.
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August 09, 2021 at 05:03PM
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Blog: What's the trend? What's in stock - Furniture Today
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