“The Times They Are a Changing” was Bob Dylan’s famous song in 1964 which was the anthem for what the country was experiencing. As we finish the second decade this century we can sing it again. In my mind the pre-eminent event of this decade was the introduction of the iphone and the social media it spawned.
Forget about the ramifications in our business and think of the profound affect the internet has on our country. From flash mobs, to social harassment on the negative side to life saving health methods, profound knowledge at our fingertips, transportation at the push of a button and instant communication are a few of the changes to our daily lives.
As for the furniture business, think of 10 years ago where almost all sales were made at brick and mortar locations. Contrast that with 2020 where those same stores are clawing for a declining slice of retail sales. But in all the craziness we need to remember that the Internet can also be a terrific tool to showcase the product that is available in the local store for immediate gratification.
In a way, we are returning to eons ago when consumers looked at Sears, Wards, Penneys, Gamble/Skogmo and other catalogs and placed an order or made a wish list. Today they peruse a screen and chose their options. A point made at a recent high power Executive Conference put on by H.F.A (Home Furnishings Association) where 50 of the top 100 execs met to discuss their future, was that almost ALL searching is now done on the internet. However, many astute leaders contend that those same consumers would rather experience personally the products in a retail location. If the experience is comfortable and revealing, the touching and seeing goods in person makes the purchase decision easy.
Think about the advantages bricks and mortar retailers still have over internet only dealers. The delivery process for Internet only sellers versus Brick and mortar includes goods being dropped on the driveway or comfortably set in the living room. Further down the line point out the return or exchange transaction. Instead of being picked up by a local dealer, the internet buyer has to deal with someone on the phone in India. They then have to hassle with some way to get it back to a distant location. These differences have to be driven home to the customer.
American Furniture Warehouse has a prominent sign in the lobby of all their stores contrasting their advantages against those of Wayfair and Amazon. I’m sure Jake hasn’t been sued because the facts are true. He lists his price advantages, his personal service advantages and other salient points. To me each dealer needs to do a version of this attack to regain the initiative from web sellers. You and your employees are a great asset to feature as internet sales mature and the novelty wears off. But selling and showcasing product by Brick and Mortar stores on the dealer’s website is one huge advantage not available 10 years ago at a reasonable price. 2020’s can be a great decade to have brick and mortar sellers regain their momentum. We are here to help! Happy New Year.