The price index for household furnishings and operations increased 10.1% over the past year—its largest 12-month increase since the period ending July 1975.
That’s according to Mattress Industry Consultant and Texan Mattress Owner Lawrence Heilers.
So what does that mean? He explains in a recent Facebook post:
“Customers are getting used to higher prices. They are overpaying for homes. Paying offer sticker for cars. We need to change our marketing strategy to focus on:
In stock
Long term financing
Services - such as delivery and removal
Large assortment of choices“We have to stop promoting $149-$199 queen mattresses, twins at $99 or $39 down no credit needed financing. Your guests shopping promotional prices are being stretched while your premium guest is flush with cash and equity. You get what you fish for. It’s time to reinvigorate your business with a better marketing strategy.”
The FAM has always been fans changing with the time and trying new marketing strategies, so we reached out to Heilers to have him elaborate on his post and see what retailers can do now to sell to the customer of the future.
To find out more, read the rest of this article on fam.news!