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Showing posts from December, 2011

Finding Opportunities in the Growing Area Rug Market

FLOOR COVERING STATISTICAL TRENDS AND OUTLOOK As a floor covering industry consultant and analyst, I was always surprised by the lack of interest in the market for area rugs.  And as a consumer, I always wondered why floor covering stores paid little attention to this market sector.  I purchased area rugs and runners at specialty rug stores, home centers or other mass merchandisers. So when I read “ Selling Rugs Profitably” in Floor Covering Weekly , I just skimmed over the contents.  Shortly thereafter, a client asked me to do an in-depth investigation of the area rug and bath mat market.  Well, the analysis of the U.S. area rug and bath mat market really opened my eyes to the opportunities in this industry sector. Below are a few of the findings uncovered in the Catalina Market Profile on Area Rugs : • Consumers are estimated to have purchased $6.0 billion of room size area rugs, scatter and accent rugs, bath mats, and runners in 2011, a 4.7% increase over the previous year.

Benefits of Attending Trade Shows and Conferences

Donato Pompo Attending industry trade shows and conferences can cost people and companies a lot of time and money.  First, there are expenses associated with out of town travel such as airfare, hotel and meals. Then there are show registration fees. And then there is the lost opportunity cost of you and/or your employees not being in the office and therefore not being productive.  If you plan and spend your time effectively, however, by participating in and networking at these events, you will walk away with great insight and potentially new opportunities that will give you a nice return on that initial investment. In this tough economy industry organizations and associations are looking for ways to help their members reduce costs related to attending annual meetings, exhibitions and conferences.  One example is the ceramic tile and stone industry whose leading associations merged their events into one larger one.  In fact, I just returned from Total Solutions Plus , held near Pho

How Consumers Purchase Flooring: In-Store, Online

Did you get a chance to read National Floor Trends' article titled WFCA Consumer Study: Consumers Not Using Social Media For Flooring Purchases ? It caught my attention. I love data about consumers and the purchase process. Especially in flooring. In a world where the overall retail experience is evolving beyond the physical store to encompass digital tools, how different is flooring? And what role does social media play? According to the article " Seventy-five percent of consumers surveyed used online resources when shopping for their most recent flooring purchase." That's not too different from what Google details in an ebook titled "ZMOT" which states that 84% of Americans engage in ZMOT activities prior to purchase. This is based on research by Shopper Sciences of 5000 shoppers across 12 categories. [Note: "ZMOT" stands for ' zero moment of truth ' [i.e., the moment between purchase stimulus and purchase decision [aka first mo