Our business OK, but the industry may be in trouble, F/T survey finds
By Furniture Today Staff -- Furniture Today, October 15, 2001
HIGH POINT — Most retailers and manufacturers say their own business will be OK in the fourth quarter, but believe the industry as a whole may be in trouble, according to an informal Internet survey by Furniture/Today.
Two-thirds of both retailers and manufacturers said they believe the industry will fare worse in the fourth quarter than it did in the first three quarters.
However, when it comes to their own business, two-thirds in each group say the fourth quarter will be about the same or better. Almost a third of retailers and a fourth of manufacturers said their own business would be better in the fourth quarter than in the first nine months.
The figures are based on the responses of 96 retailers and 144 manufacturers between Sept. 27 and Oct. 8.
Retailers were asked what tactics they would use to keep their own businesses afloat during the fourth quarter. The responses indicated that:
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32% will sell more imported products, compared with 40% who will keep import levels the same and 10% who will reduce the amount.
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30% will run more "no-no-no" promotions, while 34% will keep the frequency about the same, 18% haven't decided, and 17% never run them.
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21% will offer discounts more frequently, 61% will keep them about the same, 10% will do it less and 8% are undecided.
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22% will reduce the number of product sources they use, 51% will keep the same number, 13% will increase and 14% are undecided.
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