Monday, January 17, 2011

Rug Business in 2011: Numbers and Beyond

I just want to share my forecast for my rug business in 2011 with you. I will expect a slow and long recovery. The meltdown of housing market and growing unemployment caused young adults to stay with their parents longer and this meant lower and weaker demand for furniture and rugs.

Having gone through a tough 2010 has taught me that working smarter, having strategies, being methodological, studying customer behaviors and paying attention to what my clients are shopping for really works for me and for my rug business in the very competitive Los Angeles rug market.

I believe that economic growth is moving in the right and more positive direction today, but it will take some time before we see people are spending like Americans again. Therefore, I should take positive actions, and commit myself to change. I will sell value over price, and will focus on driving more traffic, lowering store costs where possible and building trust and closer relationships with my clients. I should try harder to provide more value for my customers. That is what they are looking for in tough times.

I will be watching new home construction and renovation rates nationally and in California, corporate vacancy rates and unemployment statistics. These will be meaningful indexes and indicators of how the market will move. These will give me the right road map for my rug business journey!

Dr. Khosrow Sobhe (Dr. Kay)
Certified Rug Specialist (CRS)


San Francisco cleaning company said...

That would be the way to go. Times are hard. With 2009's economic downturn, the economy and Americans has not yet fully recovered. Everyone is being cautious nowadays.

Persian Rugs said...

Great blog post, hopefully this year will be a better one for those in the rug industry.
Thank you,

Dinah said...

Good for your company wishing you more sales for this 2011 more area rug to be sold...God Bless!