Showplace exposition building in High Point, NC, USA | Familton Fenn
High Point, NC is in the north central part of the state and is listed as the 259th largest municipality in the United States. However, two times a year, once in the Spring and once in the Fall, High Point turns into the largest furniture store showroom on the planet.
For five days, 75,000 attendees from 100+ countries roam through 180 buildings filled with 2000+ exhibits looking over the latest furniture styles and designs. The goal is to find the right mix of products for their stores. The latest trends, emerging styles, and unique designs are all represented at the market. Attendees look, feel, sit on, and end up ordering items for their stores.
Once the market is over and everybody goes home, High Point turns back into the 259th largest municipality in the United States and life returns to normal for the next 6 months.
However, for the furniture store owners that are on planes or in cars heading home, they are all pondering a very important question, “how in the heck are we going to sell all this furniture?”
No one needs to be told that today’s shopper is using media and gathering data for furniture purchases differently than just 5-10 years ago. In addition, media use continues to evolve at a pace that is staggering.
It is crucial for a furniture store to Identify the best customer, use the right message, and implement the most effective mix of media to survive. Fortunately for High Point attendees in October 2019, organizers of the event selected Marshall Marketing’s Jim Filippi and Kat Savage to coach furniture store operators on how to use today’s media to reach today’s shopper.
No matter how media use evolves, furniture store owners ALWAYS want to know these questions:
1. Where do I rank in the consumers mind when they decide to shop for furniture?
2. How do I use all the media options in an affordable way to increase my business?
The best way to answer these questions is with LOCAL market research.
Question #1: Where do I rank in the consumers mind when they decide to shop for furniture?
The Shop 1st share for a high end store in a Marshall Marketing southern market has grown from 11% in 2015 to 15.7% in 2018 and ranks first among the $150K+ target. However, there was a dip between 2016 and 2018.
- What caused it?
- Did the media mix change?
- Was there a change in the market dynamics?
- Did the main competitor become more aggressive with ad spending?
Without local Marshall Marketing data to pinpoint an issue, this type of conversation couldn’t take place. The furniture store can count the number of shoppers and add up total sales but, it can’t find out where it ranks on the shopping list for future customers without Marshall Marketing.
Question #2: How do I use all the media options in an affordable way to increase my business?
The crush of media options and media reps must overwhelm a furniture store owner or any business operator these days. Each media has its own level of effectiveness. Each furniture store has a limited amount of resources to use media. The key is to match the resources to the best mix of media.
By utilizing Marshall Marketing data, a furniture store owner is able to see how potential customers use each media rather than listen to a rep tell them what the media they are selling can do.
Plus, Marshall Marketing provides an annual report card in the form of “shop share” to guide the furniture store owner on how to adjust their resources as media use among consumers evolves.
The task of choosing furniture at the High Point market, bringing it to the store, and selling it requires a lot of expertise. High Point attendees are experts in knowing what type of furniture will appeal to consumers in their market.
Jim and Kat are experts in digging through Marshall Marketing data to help furniture stores grow.
Tell your furniture store clients to attend their session at the October 2019 High Point Market.
It will be time well spent!