You can't get a new Lexus for a used Taurus price
Jerry Epperson -- Furniture Today, March 10, 2008
Nat Ancell, co-founder of Ethan Allen, continued to come to markets and industry events long after he retired. He made many in the industry uncomfortable by asking questions like, "What do you sell?"
Most said "beautiful furniture" or "a great value in furniture." Nat would argue vigorously that they were wrong. We should be selling "a warm, comfortable home" or "a beautiful source of pride for every homeowner."
Our industry lost a great man when he passed away a few years ago, but we unfortunately lost that message, too.
Try to imagine the following as radio advertisements:
-
"Warmth, good books, the Super Bowl, chips n' dip, snoozing, great music, Jay Leno, good Scotch, grand kids in your lap, peace and quiet, a warm fire, a good stogie, stretching out, slippers, the Sunday paper, 'Monday Night Football,' March Madness, catnaps and your cat in your lap ... all come with your new Jer-E-Boy recliner."
-
"Popcorn, Junior Mints, cold beer, no shoes, 'ET,' Goober's, 'The Godfather,' best friends, James Bond, Marilyn Monroe, nachos, 'Animal House,' Tom Hanks, 'Die Hard,' Chevy Chase, Hepburn, clean nearby rest rooms, Will Ferrell, 'The Matrix,' Raisinettes, a big orange drink, comfortable clothes, and a hot date ... all with no crowds and no waiting at your new Thomasburg Home Theater."
-
"Pleasant dreams, feet up, spouse in your arms, wonderful memories, preschoolers bouncing, comfy sheets, pooch asleep nearby, grandma's afghan, good wine, soft music, closed curtains, scented candles, comfort that makes you forget your worries ... all come with your new Beautypedic PostureRest by Springdown.
Compare these to the more typical:
"This weekend only ... the biggest sale in the history of the store (since last weekend), with discounts of 40%, 50%, 70% and more off our (unrealistic and never used) regular sale prices! Don't miss this once in a lifetime chance to buy (questionable) quality bedding at massive (and unrealistic) discounts to our (inflated) regular mattress prices. Smart, knowledgeable, savvy (gullible) consumers cannot afford to miss (how ridiculous) this opportunity really is!"
I added the parenthetical comments to tell you how the average consumer hears this ad. Everyone wants a new Lexus for a used Taurus price but they are smart enough to know it is not going to happen. So why do we think our consumers think this way when we sell furniture?
Finally, big discounts are great when you sell multiples. If you find out your favorite toothpaste is 50% off, you might buy two. Unfortunately, no matter what the discount is, very few consumers will purchase two dining rooms or two sofas at one time!
I miss Nat Ancell.
