Back when all media publications were only available in print, letters to the editor were a popular way to start conversations about industry challenges while exchanging ideas.
Today, a comment on a digital story has in some cases filled the role of the letter to the editor, and I’d like to address one that was recently posted on an article I wrote about the vibe at Casual Market this past July.
The comment is from Trey Folcher, owner of Leisure World Casual Furniture in Wilmington, North Carolina: “This sounds so “feel good,” far from what all of us were talking about at the show! Business is NOT good, and we are not recession-proof. And having two shows is still not a welcomed process, especially for those of us who have been doing this for a long time … both vendors and retailers. I’m glad you had a good-vibe feel, but I’m speaking honestly for the realists!”
I sincerely appreciate Folcher reaching out with this comment and want to thank him. Comments like his give us more fuel for conversation in terms of the state of the industry.
Business is, in fact, not great for most — a recent report shows that year-over-year furniture sales fell 3% in May. However, outdoor furniture is a bit of an outlier compared to indoor, and that’s partially because this category of the home furnishings industry is more recession-resistant.
No industry is recession-proof. But with higher ticket prices for quality outdoor products and affluent customers less likely to feel the effects of a recession, there’s still a customer ready to buy high-end outdoor furnishings.
Beyond the high-end customer, ICFA research shows that consumers are actively thinking about buying outdoor furniture. Take these highlights, for example:
- 82% of consumers underutilize their outdoor living space, with only 18% using it as much as they want to.
- More than two-thirds of households (67%) plan to purchase new outdoor furnishings, with nearly half (44%) planning to purchase multiple pieces of décor.
- 85% have at least one item on a wish list.
- 68% prioritize practicality and durability of outdoor furnishings over style (32%).
- Lounge chairs and chaises top the wish lists of Americans for their outdoor living space (35%), while 23% want accent furniture like garden benches, plant stands, porch swings, hammocks or a bar cart.
I particularly thought Folcher’s comment on the two markets is interesting because it’s one of the most complicated issues in the industry right now. AmericasMart vendors are required to be open during all of the major markets, so they need to see business during those times. But specialty retailers have, for the most part, chosen one market or the other to go to.
I have also heard from many that two markets is excessive, and perhaps one market in August could be a simple solution. However, the way the industry is changing makes me believe that there is no easy fix.
Between full-line retailers, designers, hospitality/contract and traditional specialty retailers, vendors have more demographics than ever to cater to. And because of that, they need to be at the market when their customer are — which isn’t always at the same time. At this point, I don’t know if vendors can afford to only have one Casual Market.
The industry has grown so quickly that it feels in some ways like it’s playing catch-up to accommodate all of the new business coming in. And while things aren’t great for most in the home furnishings industry, I have heard that many are optimistic about the 2025 selling season, particularly because the election will be over. But only time will tell.
