They are really making sure that they satisfy their needs in all respects," said Steen Kanter, a retail business consultant in Raleigh, N.C., and former president of Ikea U.S. "The companies that are successful are those that are seeing things through the customers' eyes. In fact, what all these stores have in common is tasteful furnishings at mostly moderate prices, consultants say. Its giant 400,000-square-foot store near Woodfield mall in Schaumburg is testimony to the company's philosophy of "democratic design"-furnishings can be well-made, clean-lined and affordable at the same time. Sweden-based Ikea serves up a panoply of products ranging from ready-to assemble furniture to upholstered couches to bath rugs to glassware. San Francisco-based Pottery Barn is heavy into candles, pillows and dishes, but also offers coordinated room settings with everything from couches to rugs to window treatments. But if you want a set of dishes or flatware, you need to shop elsewhere. Restoration Hardware, which hails from Corte Madera, Calif., brags about its extensive collection of drawer pulls and lamps in addition to its sleigh beds and dining room tables. Northbrook-based Crate & Barrel mixes its casual furnishings with everything from whisks to champagne flutes to skillets. This new group may share an attitude but they are not carbon copies of each other. Some traditional furniture-makers refer to these relative upstarts as "point of view" players.
That transformation is the inspiration for a category of furniture sellers that offer a fresher, more stylish look, often with retro overtones. Their taste level is changing, their needs are changing," said Sid Doolittle, partner with McMillan/Doolittle, a Chicago retail consulting firm. "These people have been through their first wave of furniture a long time ago. New homes are being built in record numbers, real wages are rising and Baby Boomers have more disposable income than ever.Īs many retail experts have previously noted, Boomers are choosing to spend a lot of that cash on decorating, remodeling and expanding their homes.
To be sure, economic conditions couldn't be much better to sell home furnishings. "The old growth is dying off, and the new growth is popping up." Segal compares the dynamics to the natural cycle of rebirth in a forest. The furniture business is so attractive now that even some apparel-makers such as Nautica and Polo Ralph Lauren are getting into the game with home collections that include everything from couches to armoires.
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