Within the outdoor furnishings space, what a retailer has on hand — and somewhat more importantly, how much — can mean the difference between profit and loss.
That’s especially true as retailers navigate the world as it is, post-Covid and amid economic uncertainty.
For some, stock and inventory amount to a Three Bears kind of narrative between too little, too much and just right. A spot-check with several industry veterans shows that predicting which way the market will fall and ordering product accordingly is one of the most challenging parts of business today.
Garrett Wallace, president of Yard Art Patio & Fireplace in Coppell, Texas, says that his store has reached a kind of balance, for right now.
“We are very full on stock from 2022; this is because we got caught up from 2020 and 2021,” he explains. “We did buy more stock for 2023, but we are being more strategic on when it comes in and are not buying as much as we have in the past.”
Wallace says the store is seeing something of a slowing in sales just now, but that’s not unusual for early in the calendar year.
“We have seen a slowdown but that is normal for this time,” he says. “The normal we are seeing is normal for this time.”
Accordingly, his advice to consumers is to get in touch.
“Spring is right around the corner and we have the furniture you are looking for,” says Wallace. “Special orders for most manufacturers are back to ‘reasonable’ time frames of 16 to 20 weeks so now is the time to buy!”
Bob Blanchard of Saltwater Porch + Patio, with stores in St. Simons Island and Kingsland, Georgia, says that he has too much inventory on hand.
“In 2021, when early-buy orders were due, lead times were still lengthy and we couldn’t take the chance that we might have too little inventory on hand,” says Blanchard.
Blanchard says that for the first time in almost three years, he is seeing his first sales slowdown.
“We are currently experiencing the first ‘seasonal slump’ since the winter of 2020,” says Blanchard. “Though, we are busier this winter than we ever have been — mainly due to the growth our business experienced during the pandemic.”
Like Wallace, Blanchard says now’s the time to buy.
“Order or buy now before prices increase again and lead times get longer in the coming season,” Blanchard offers. “Also, we have the best selection for immediate delivery right now.”
At Indianapolis, Indiana-based Kittle’s, Chris Nordhoff, corporate visual director and senior buyer, says stock and inventory is going well.
“Kittle’s stock position is better for the 2023 outdoor season, about 35% to 40% better, to be exact,” says Nordhoff. “We now have backup stock of all price points Good Better Best, albeit that stock at the upper end of Best is minimal.”
The sales side has been going well, with Kittle’s recording a sales increase of 5% during the second half of 2022, he says.
For consumers — now’s the time to buy, with an idea a few months from now.
“Buy now!” says Nordhoff. “We are happy to store your purchase at no charge until spring.”
