GREENSBORO, NC – A furniture industry watch report by corporate transformation consulting firm, Anderson Bauman Tourtellot Vos (ABTV), indicates a rise in sales for American furniture manufacturers, even as the industry continues to face challenges such as sluggish economic recovery, shifting consumer buying preferences and skilled worker shortages.
The study also cites rising labor costs, technology integration issues, new distribution channels and increased global competition as roadblocks for many manufacturers.
Solutions suggested by ABTV include an increase in communication with consumers and industry professionals from millennials to baby boomers. As many professionals prepare to retire, ABTV urges the industry to attract and retain entry-level careerists.
Addressing the needs of these consumers, who may be downsizing in retirement or economizing due to student debt, is also recommended.
"Young buyers today have largely been ignored by the industry in terms of furniture design, advertising, marketing, and the availability of younger retail sales people,” says ABTV Managing Director Peter Tourtellot. “When it comes to marketing, it's all about relating to their needs."
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