RETAILOBSERVER.COM AUGUST 2014
54
MIchael Allen Furniture Trends
WHO ARE YOU?
Do you know what your customers
think of you? Maybe it's time to find out
P
ublic perception can make or break your business. While you
may not have had the extra funds to do market research in the
past few years, now that the economy has turned for the
better and business indicators are good, you might find yourself with
a few spare dollars. Using some of that extra budget to find out what
the public thinks of you will pay for itself and then some.
In fact, if you consider that the recession hit the furniture industry
in 2007, you may realize that it's been seven years or more since
you've had the opportunity to do this type of in-depth analysis. A lot
can change in that amount of time, like a shift in population and
demographics, competitors going out of business or joining the fray,
and consumer shopping habits and patterns
"A lot of times, independent businesses don't have good
information. Having empirical information to work with is an incredible
strength in any kind of management group," says Alvin Wight,
president of Strategic Decisions, a market-research and branding
company located in Thomasville, Georgia. "It's easier to lead if you
can prove where you are going."
There are many ways to get information from your customers in
order to find out exactly what they think of you—whether it is an
online or telephone survey or direct mail. Are your price points OK?
Are you catering to the price points customers in your area want?
Are you too promotional? Too high-priced? Do you attract younger
people? Does the look of your store match the your price points? A
lot of times, a dealer might have higher-end product, but their
showroom might not look as good as it should. Sure, answers to
these questions might seem scary at first, but ignorance isn't
always bliss.
