In the year 2023, we know we must include a finish on every faucet from any vendor. The same as when we order an automobile, chair or lighting. Adding colors to any piece makes it special and in many instances the color is more important than any other look that product offers.
Color is so important and so individual, that a red indoor paint search on Sherwin - Williams' website delivers more than 140 related colors.
The most recent National Kitchen and Bath Association (NKBA) Market Outlook Report projects 2023 bath and kitchen revenue will reach $162.4 billion, a 14% decrease when compared to the previous year. With potential recessionary pressure, high mortgage rates and a cooling residential housing market, Supply House Times chatted with a few showroom professionals from around the country to gauge what’s expected in the 2023 showroom sector.
With all of the goings on over the last two years, many of us have lost sight of our customer base undergoing a significant change. Baby Boomers have moved into the background as Millennials are entering their prime earning time and make up a significant portion of decorative plumbing showrooms' professional and homeowner customers.
When I open the ballroom door and enter the 2022 DPHA conference, the booths catch my eye but I am looking for familiar industry wide faces and those new personalities that i do not know. The DPHA conference is all about the decorative plumbing and hardware, period. It presents me with the opportunity to see new products from decorative plumbing and hardware focused vendors, industry relevant education sessions and opportunities to interact with the people that manage and own DPHA businesses.
As an owner or manager, your laser focus is on each vendor’s profit and, mistakenly, assume that your salespeople share your bottom-line focus. I suggest you are focusing on the deliverables, and they are involved in the process, the sales process. In most cases, you will not be able to move your salespeople to your side of this question by simply showing them the money. The way to move them is to show them how these HVVs will fuel their desire to be a great showroom salesperson.
When a product niche reaches this level of performance consistency, most manufacturers gravitate toward the same basic product platform. Is a faucet from vendor A really that much different than one from vendors B, C or D?
I have been back on the road for a while and have just returned from another week-long tour. I would like to report that the decorative plumbing showroom world remains vibrant and as diverse as ever. The question that I am most asked is: How are showrooms and customers reacting to COVID-19 in their business practices in 2022?
Jeff MacDowell, director of Luxury Products Group (LPG) attended the 2022 IMARK Summer Invitational alongside exclusive brands Australian Designer Faucets and Current. IMARK members from across the country were invited to attend and were able to learn more about what the LPG strategic initiatives have to offer.