Time to Get Smart(er)!
There’s a world of truth to the old saying that says, ‘If you’re not going forward, you’re probably going backwards.’ That applies to so many areas of life, especially continuing education.
While you certainly don’t need anyone to remind you that our industry is experiencing a steady series of paradigm shifts, we could all use some occasional help on how best to proactively deal with those changes.
With education topping the list of IHFRA’s many objectives, it’s only fitting that we’ve been seeking out a high-impact, reasonably priced education platform designed to let you learn at your own speed and pace while paving the road to put you in the passing lane of the fast track when it comes to growing your sales.
After months of research, IHFRA is proud to announce a partnership with veteran salesman, trainer, author and educator Victor Antonio Gonzalez, one of America’s premier business consultants and someone perhaps best known for being host of Spike TV's reality series, Life or Debt.
Victor is also the founder and creator of the Sellinger Group and the Sales Velocity Academy. http://www.salesvelocityacademy.com
So, what does all of this mean to you? In a word, success! Victor has created a library of close to 400 topic-specific sales and marketing training videos that are also segmented into thee levels of learning: Foundational, Advanced and Mastery.
Normally, the annual cost to access the library is $299, a bargain by anyone’s standards. However, IHFRA has negotiated a special rate for our members of only $99.00 a year!
For pennies a day, you can tap into a video library of hundreds of topic-specific sessions that will make you more valuable to your customers and your suppliers while teaching you how to sell smarter and with greater success.
Best of all, you don’t need to take time from being on the road to sit in a classroom. You can watch the videos at your pace and speed while selecting the topics you feel you need improvement on.
To learn more about the Sellinger Group, click here: http://www.SellingerGroup.com/brochure
For an in-depth look at Victor's training videos, please take a few moments to go here.
We would like to give Victor an idea of how many IHFRA members plan to take advantage of this great deal, so please click here to respond.
IHFRA Announces Limited-Time Membership
Special $99* Limited Offer From IHFRA!
For those members who have not yet renewed their membership---and for independent reps who have never joined-- IHFRA is offering a special rate of just $99*, that will put you in good standing until December 2019. Use the promo code SPRING19.
As a member of IHFRA, you can participate in the group’s robust package of benefits that run the gamut from competitively priced healthcare plans, substantial discounts on printing, office supplies, car rentals, identity theft programs and much more!
IHFRA is also getting ready to debut a new continuing education program that will only be available to current members and that alone is worth your membership!
IHFRA members also receive a lapel pin each year that not only identifies you as a member of our group but also gives you access to the key markets including the High Point and Vegas furniture markets.
Need or want more info? Just click here: https://ihfra-cloud.flywheelstaging.com/join-ihfra/
*for regular $155 membership. All membership types are discounted.
IHFRA's Ray Allegrezza talks shop with Bill McLoughlin, Editor in Chief of Furniture/Today
Ray Allegrezza, Executive Director at IHFRA, was recently invited by Furniture/Today to participate in a free-wheeling podcast hosted by Bill McLoughlin, Editor in Chief at the paper.
During the 45-minute session, Ray and Bill talked about IHFRA, the role of the independent sales rep, the impact of e-commerce and much more.
To listen in, click this link:
http://www.furnituretoday.com/blogpost/15716-past-present-and-future-furniture-business-all-45-minutes/
2019 LV Social is a Success!
IHFRA's kick-off event for market
The 3rd annual Las Vegas Cocktail Social was the "best attended ever" according to many who were there. The Troy Liquor Bar at the Golden Nugget provided a great venue with an outdoor patio overlooking the well-known Fremont Street Experience. Generous sponsors who helped make the event happen included Zenith, Ashley Furniture, Klaussner, IMC, Zuo Modern, Cozzia, Planned Furniture Promotions, Cory Home Delivery, Coaster, and Furniture Dealer.Net. A few lucky party-goers who had their name drawn received prizes including and HP All-in-One Printer, $25 gift cards to Office Depot/Office Max, 2 One-Night Stay coupons to Red Roof Inns, and a Ring Doorbell system provided by Best Buy for Business.
New IHFRA/Leflein Study Reveals Millennial Furniture Buying Insights
As part of an ongoing mission to bring market intelligence and insights to the home furnishings sector, IHFRA recently asked Leflein Associates, Inc., a premier market research firm specializing in retail intelligence and millennial audience engagement to find out what matters most to this demographic group as they shop for furniture.
At some 83.1 million strong, Millennials spend about $600 billion each year, making them a force to be reckoned with. And with many Millennials approaching their peak home-buying years, this group is influencing furniture trends as well.
With that in mind, Leflein Associates conducted a national online survey that gathered input from 330 adults between the ages of 18-34 who offered candid input about their furniture shopping plans and intentions.
When respondents were asked to select the top three attributes most important to them when purchasing furniture, just over half the group (51%), cited quality as the key determinant. That was closely followed by comfort, the answer given by 50%. Price, while important, was listed as the top driver only by 44%, followed by style, the answer given by 37% of the respondents.
Worth noting, the survey determined that the females in the survey were likely to cite the importance of comfort (54% vs 45%) than the men. Similarly, more women (43% vs 31% men) felt style was important.
The study also asked the respondents to share the reasons that would prompt them to make an in-store visit to purchase furniture.
While the majority of Millennials (54%) said they would go to a furniture store to “see and feel the furniture in person,” far more women (51% vs 35%) said they would visit the store for design assistance. More men, meanwhile, (46% vs 33%) said they would go into the store because the furniture is fully assembled.
The Leflein study also identified specific types of furniture that the group said they would have to see or try out in person before making a purchase.
The top three items proved to be beds/mattresses, the answer given by 51%; sofas/sectionals/loveseats, the response from 39% and chairs and recliners, the answer given by 34% of the 330 Millennials responding.
When it comes to sofas/sectionals/loveseats, more women (47% vs 32% men) wanted to see these products in person.
Fewer than 20% of the Millennials polled reported a need to see the following items before making a purchase: kitchen islands (18%), bookcases (18%), bar stools (17%), accent tables (17%), end & side tables (17%), cribs, headboard, sideboard and buffets (16%) followed by wall art and nightstands at 15% each.
With sales patterns top of mind, the study asked the group to share when they either last visited a brick and mortar furniture store, looked at furniture online or searched social media for previously owned furniture.
The good news for home furnishing retailers is that nearly three-quarters of the group (72%), said they have searched or shopped either in-store or online for furniture within the past month.
Reflecting the steady growth of online furniture sales, the survey found that only 7% of the Millennials shopped exclusively for furniture in store.
“This information, culled by Leflein Associates, Inc., especially in light of the current uncertainty the market is facing, is particularly valuable to any supplier, retailer or independent rep looking to garner a share of the ever-important Millennial market,” said IHFRA Executive Director Ray Allegrezza.
For additional information about the survey or about Leflein Associates, Inc., click here http://www.leflein.com
Hall of Fame Invites IHFRA Members To Join
As a courtesy to all active IHFRA members, the American Home Furnishings Hall of Fame has extended a special offer of membership for only $100. For that, IHFRA members receive
*A beautiful Welcome Presentation Kit outlining the Hall’s services, products and benefits.
*access to all photography from the events surround the induction
*A fully tax-deductible donation to the Hall of Fame, a federally recognized 501 © (3) charitable nonprofit organization.
*Exclusive special fee benefits that non-IHFRA cannot receive.
Membership also gives IHFRA members the opportunity to nominate candidates for Induction in the Hall of Fame; Purchase one Celebration ticket for $150 (non-members pay $300).
IHFRA members can also invite a retailer as their guest and purchase a pair (two) tickets for only $250. Non-members pay $600.
Also, IHFRA members are publicly acknowledged with Visual Brand Recognition in the Induction Celebration Journal and in the quarterly Hall of Fame newsletter.
Membership also brings the personal reward of knowing that you have significantly impacted the preservation of the Home Furnishings Industry’s history.
The Hall of Fame salutes leaders, vision and success. As a key part of this industry, IHFRA merits a seat at this table.
For more information, click here: https://www.homefurnishingshalloffame.com
IHFRA Has Your Back—Launches Identify Theft Protection for members
In the event you just read this headline and wonder if there is a good reason to protect yourself and your family against identity theft, we can give you a host of reasons. In fact, we can offer you some 60 million of them.
Those 60 million reasons represent some 60 million Americans that became victims of some form of fraud and or identity theft so far this year.
And if you were among the 60 million people impacted, it probably didn’t matter if it came at the hands of employment or tax-related fraud or credit card fraud or telephone or utilities fraud or bank fraud.
To help minimize the chance that you might be next, IHFRA has partnered with Family-IDProtect.com to help protect you and your family.
The company is offering IHFRA members—their families and their friends—a very affordable and comprehensive suite of services to help manage your personal identity and private information during various life events, including assistance in situations you may confront in natural disasters.
For less than $5.00 a month, you can have individual protection and for less than $7.00 a month, you can protect you and your family.
Benefits include:
- *Individual and family identify theft resolution
- *$50,000 ID theft expense recovery reimbursement insurance
- *Personal Disaster Services
- *Travel Identity Assist Services
- *Social Media Services
- *Document Replacement Services
- *Protection for Minors Services
- *Marriage and Divorce Identity Services
- *Medical Identity Services….and more.
For more information, visit the company at www.family-idprotect.com
The promo code to use is IHFRA10
Click here for more information
IHFRA Asks its Members How Tariffs Will Affect Industry
High Point, NC - With the impact of tariffs top of mind, The International Home Furnishing Representatives Association (IHFRA) asked Leflein Associates, Inc., a leading market research firm, to field a survey among IHFRA members in order to gauge their perceptions of how current and future tariffs might impact the landscape of the home furnishings sector.
Based on input from close to 340 IHFRA members, who represent independent sales representatives, suppliers, retailers and other active in the home furnishings sector, more than 40% of the respondents believe that tariffs will cause furniture suppliers to shift production to countries other than China.
Some 35% of the respondents are also predicting that manufacturers will have to adjust pricing as a result.
And when the question was asked about who would ultimately foot the bill should higher priced furniture emerge as a result of the tariffs, over half of the survey respondents said the consumer would be one paying more for goods impacted by tariffs.
According to Ray Allegrezza, Executive Director for IHFRA, “This survey underscores the volatility the industry may be facing should higher tariffs come into play in coming weeks and months.”
The challenge for the industry, Allegrezza added, is that the issue of tariffs comes at a time when furniture sales, while reasonable, have not seemed to keep pace with a steadily improving economy.
And when that is coupled with the timing and focus of the impending tariffs, that could spell more trouble for the industry, Allegrezza suggest.
“As opposed to the earlier tariffs against Chinese imports, which took hold at the end of September and targeted some $200 billion at 10%, the impending tariffs, set for January 1, 2019, will come in at 25%, he noted.
“But here is the rub,” Allegrezza explained. “While the earlier tariffs mostly hit materials, about 25% of the planned tariffs will target consumer goods directly, making the perceptions of our survey respondents right on the money,” he said.
Based on what Allegrezza sees ahead, sales of furniture, electronics, computers are all positioned to feel the brunt of higher prices.
What follows are the top line results of the Leflein survey:
Q1. If the tariffs on China furniture imports increase to 25%, what do you believe furniture manufacturers will do? (Select all that apply)
- 44% of IHFRA members cite if the tariffs on China furniture imports increase to 25%, furniture manufacturers will move their production facilities to other countries.
- More than one-third (35%) believe manufacturers will adjust their pricing to compensate for the tariff.
- Only one in ten (10%) believe manufacturers will build plants or expand facilities in the US
Q2. Who will be most impacted by furniture tariff increases? (Select One)
- The majority of IHFRA members (51%) predict consumers will be the ones to experience the biggest impact by the furniture tariff increase. Here’s some explanations for why & how:
“Consumers don't really understand the costs of furniture now. They always want the lowest price products unless they are of the top earners in their respective markets. Many of the top volume producing products are made in China. That much capacity cannot be reasonably spread to Vietnam, Malaysia, India, and Mexico. The logistics of shipping alone make that impossible. So, consumers will have to pay more of their money to get product in their home, even at the low end of the market.”
“Everyone will be impacted. I am a sales rep and I already feel the pinch as the stores are holding back buying or if they are still purchasing they are absorbing the 10% increase. I think that furniture will become a lower priority as everything in the whole country is going to increase 25%. Customers make the ultimate decision and come Jan- Fall.”
“Furniture is the first of the big ticket items to be affected by cost increases. With no effective long term consumer financing, furniture is a cash sale 75% to 80% of the time. The vast majority of sales thus are dependent on how much cash a consumer has available people don’t have the cash to afford the level of quality they desire.
- Three in ten (29%) foresee manufacturers experiencing the most impact. Here’s some explanations for why & how:
“I think Manufacturers will bear the brunt of tariff increases because consumers can always shop other choices, reps can grab other lines, and retailers can adjust their assortment on their floor to create the best value for their customer. This is why Manufacturers will have to be agile and move some production, eat some of the tariff, and possibly look at expanding in the U.S.”
“The ones whose products are made mostly in China will be forced to move production to other countries. This will take time to get established. The most obvious choice is Vietnam which is much smaller and has much less capacity and fewer raw materials than China. All relative factors will drive costs up in Vietnam and create long lead times. It will be a trickle down affect impacting all parties involved but manufacturers will struggle for a long time and some will probably go out of business. For smaller manufacturers it will be like starting all over again which will be a real struggle considering the competition in the industry. Retailers and consumers will shop differently by selecting products not impacted by the tariffs. Overall for a while furniture sales will take a dip. The question is "How long will it take to recover?"”
Q3. Which merchandise category is most affected by increases in tariffs? (Select One)
- Two-fifths of IHFRA members (43%) cite case goods as the category most affected by increases in tariffs.
- More than one-third (35%) believe upholstery will
- Only one in ten (10%) believe accessories will be most affected, only 8% cite outdoor or bedding (4%) as being impacted most.
Q4. Which price point is likely to be least impacted by tariffs?
- 67% of IHFRA members believe high end items will be least impacted.
- 13% cite mid-range, and nearly two out of ten (19%) cite low end
Q5. Which manufacturers stand to benefit most from new business as a result of the new tariffs (Please name specific companies)
Top 5 companies mentioned (among those who mentioned a company):
Ashley 30%
Southern Motion 9%
Amish-made Furniture* 8%
Vaughan Bassett 6%
Catnapper/Jackson 6%
*represents Amish mentions in general, not a specific manufacturer
Q6. Will companies selling products not impacted by tariffs benefit?
- Virtually all IHFRA members (96%) believe those companies not impacted by tariffs will benefit from sales increases.
- While more than half of IHFRA members (54%) believe companies will benefit somewhat, two-fifths (43%) assume those companies not impacted will benefit a great deal.
Q7. If you are an independent rep, have your suppliers empowered you to answer your retailer’s questions about possible pricing changes as a result of tariff increases?
- Eighty-six percent of independent reps have been empowered by suppliers to answer questions from retailer’s regarding possible pricing changes.
For more information, contact: Ray Allegrezza, Executive Director, www.IHFRA.org. rallegrezza@ihfra-cloud.flywheelstaging.com.
IHFRA PR charts FINAL[1]