How to succeed in the drapery business during market slowdown?
by Vernon Slagle
Market highs and lows are inevitable and in this month’s article, I am going to walk you through three reasons for today’s market slowdown, and then, (the good part!) 3 ways to succeed in today’s market! 1. Housing Market Slowdown
Just a few months ago, thousands of new homes were getting built around the country and the market was bustling with enthusiasm. Home improvement projects from the “flippers” were contributing to the increased demand for interior decorators and window coverings. As a leading designer in your area, you know that the same is not true anymore. The housing market has experienced a heavy slowdown in the past few months and according to the National Association of Realtors, this trend is expected to continue throughout most of 2008, which means a drop in demand for decorators. 2. The changing nature of the business
As a sales manager for several fabric brands, it is my job to stay abreast of the home interiors market. It fascinates me to walk into showroom after showroom and see walls of sample books. Few months later, I see the same books in the same place with more books added to the collection. Last month, when I could no longer stand the logic of this phenomenon, I asked one of my favorite customers who has five quality decorators what percentage of his window business was fabric. Without hesitation, he answered – 10%. I have asked this of several customers now and the answer ranges from 10-70%, but unfortunately, 10-30% is the norm. The problem? There is now four times the selection of fabrics than there was 20 years ago and the customer-base has undergone attrition. That the price of fabric has almost doubled in some cases has not made it any easier for designers. For more analysis and ways to succeed in this market, click here to read the full article | FREE SHIPPING OFFER!
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