April 18, 2012 John McDevitt, Former 3M Corporate Economist, now semiretired, delivers an update on the economy and the status of the recovery, discussing the unemployment situation, the consumer and retail sales, the situation with gas prices, the housing market, the Federal Reserve, and the federal debt, as he offers his forecast for upcoming economic indicators.
Michael Zmijewski, president of Mr. David’s, talks about customers reaction to the company’s affiliation with union organization, INSTALL, noting that the wage rate is the most frequently discussed topic. Also discussed is the wage rate for nonunion installers historically and its effects on the installation community.
Chad Ogden, president & CEO of industry-specific software provider QFloors, talks about retailers that have switched to new industry-specific software are also embracing other new practices such as digital marketing techniques. Ogden also talks about how boomers who have decided against industry-specific software in the past are more likely to make the switch currently. Also discussed is making the switch easier.
Scott Levy, president of Arley Wholesale, discusses the wood in ceramics, its position in the market today, and how the product has matured. Levy talks about a particular product Arley is introducing that is unique, with characteristics that LVT cannot duplicate. He also discusses unique sized tiles in the market, larger format sizes, and their regional aspects.
Stuart Hirschhorn, research director for Catalina Research, looks at the housing market and his expectations for Millennial activity. He looks back at government housing regulations of the 2007-2008 era and new units as a result that have not been built in the last decade, reducing inventory and increasing prices. Hirschhorn says he expects the housing market to remain weak going forward, in spite of lower interest rates.
John Simonson, president of Webstream Dynamics and 5-Star Store Reviews, in light of the overwhelming percentage of consumers that shop using their smart phones, talks about the importance of retailers becoming more mobile savvy and ensuring that their websites are responsive to all devices, including mobile phones. Also discussed is how Google searches favor responsive websites, industry website in general, and how mobile responsive sites have advanced in recent years.
Chad Ogden, president and CEO QFloors, talks about factors such as industry specific software that permit retailers to grow, or even to double the size of their business. He talks about the motivation of many retailers to adopt industry-specific software, and factors such as younger people coming into the business as the stimulus for a business to implement new software.
In the October 2019 issue of Floor Trends, find out what's resonating with LVT. Also in this issue, we shine a spotlight on the latest innovations in surface preparation tools and flooring installation materials.