Article Number : 4501 |
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| Date | 5/22/2009 9:13:10 AM |
| Written By | LGM & Associates Technical Flooring Services |
| View this article at: | //floorbiz.com/BizResources/NPViewArticle.asp?ArticleID=4501 |
| Abstract | By Sarah Zimmerman LONG BEACH, CALIF.—The economic decline, which has no doubt affected all industries— including floor covering—has not come as a complete loss, as shown at this year’s National Wood Flooring Association (NWFA) Wood Flooring Expo & Educational Conference. Though several businesses have been hurt and even forced to... |
| Article | By Sarah Zimmerman LONG BEACH, CALIF.—The economic decline, which has no doubt affected all industries— including floor covering—has not come as a complete loss, as shown at this year’s National Wood Flooring Association (NWFA) Wood Flooring Expo & Educational Conference. Though several businesses have been hurt and even forced to close, those in the hardwood category who remain focused on surviving the recession and striving on the rebound came to the Long Beach Convention Center, here, for a four-day spread of product, education and networking all centered on enhancing business in today’s market and prepping for tomorrow. “Though show attendance was down approximately 28%— in line with other floor covering summits this year, specifically on the West Coast—we were pleased to see the trade show floor and our education sessions packed with people,” said Ed Korczak, executive director and CEO of NWFA. In fact, he reported a higher turnout than the expected 2,000. “We were more than satisfied with the 2,438 attendees from across the globe, with 238 companies filling 434 exhibit booths.” Similarly, Don Finkell, NWFA secretary and president of Anderson Hardwood Floors, said the obvious drop in attendance was “OK” since the more-than- expected 2,400 attendees were more concentrated than ever on the No. 1 topic sweeping the category and industry today: “How can I increase my business?” “This was a good show for those who took advantage of it,” Finkell explained, specifically noting a much higher attendance level in all educational sessions. “In a down market people want to learn and enhance their business savvy,” he suggested. “NWFA provided them this opportunity with a plethora of hard-hitting educational seminars. Now is the time to learn so you can implement new, smarter strategies and programs and be prepared for tomorrow—the turnaround.” And, as noted, most attendees took full advantage of the schmorgusborg of knowledge, which included titles such as: “How to Capitalize on a Reviving Market,” “How the Lacey Act Affects Our Industry” and “Making More Profits with Current Material Sales.” Knowledge is power “In today’s highly competitive market, businesses are looking for ways to impact their bottom line in the most efficient way possible,” explained Ken Schumacher, NWFA chairman and president of Schumacher & Co. “Every dollar spent is being scrutinized to make sure that it makes sense and will improve marketplace position.” However, he noted companies need to remain on the cutting edge at the same time, armed with tools and knowledge that differentiate them from competitors. “This is the one show where you can go and learn all about the industry’s latest products, services and techniques that will make you more efficient, knowledgeable and profitable all under one roof.” To that, NWFA devoted time to several key issues affecting today’s independent retailer, including the green movement, the Web, today’s customer and overall business strategies to prepare companies for the economic upswing, which experts predicted will take place toward the end of this year or beginning of 2010. Korczak said green is something consumers and the industry cannot get enough of right now, which was obvious from the increase in “FSC-certified”, “LEED- accredited”, “Lacey Act-compliant” and “recycled” marketing and merchandising taking place on the exhibit floor. “The industry as a whole is moving more in concert with the environmental movement and green organizations,” Finkell explained, who pointed to the fact this was the first year the Environmental Investigation Agency (EIA) was in attendance. He also noted increased awareness and interest in sustainability issues such as the Lacey Act (FCNews March 9/16) and NWFA’s Responsible Procurement Program (FCNews Nov. 10/17). Regarding marketing, on the other hand, educators pressed the Web issue, compelling attendees to “throw out the days of Yellow Pages and welcome the age of the Internet—the fundamental media of the future.” Making the point the Web is the first place today’s shopper will meet retailers, manufacturers and distributors alike, attendees learned some must-have attributes to include on their sites: pictures, videos, coupons, hours of operation, contact information (linking to a real person), location, product offerings and knowledge, services, etc. “If you do not have a great Web site, she will never visit your store,” explained Jonathan Trivers, owner of Marketing Wit & Wisdom, a retail training and consulting company. Other changes in today’s consumer were discussed as well—her main concern being value. Speakers noted today’s typical shopper wants better goods at an equal or lower price point. However, an explanation of what the specific value offerings are is now a necessity. “Features belong to products,” Trivers explained. “Benefits are what belong to the customer.” Other suggestions on appealing to today’s shoppers included simplifying prices; offer and use credit (see news item 'Consumer financing programs allow bigger, better sales'), one-time buys, etc., and feature private labeling, which signifies lower pricing for the same or better quality products. And when looking for overall better-business strategies and profit opportunities, several ideas surfaced—including benefits only found within a down economy. With mortgages at their lowest since 1956, foreclosures skyrocketing and a reinvestment in rental properties surging, attendees were told to take advantage of the unique customer opportunities being presented. “Utilize your artillery—value, the Web, differentiators, etc.—and go after the ‘real’ business that’s presenting itself.” |