HIGH POINT – Lately, the High Point market has been all about value and promotional pricing for lifestyle companies in both upholstery and case merchandise.
“Our objective was to bring a product to market that offers a quality level of value that retailers have offered in the past,” said CEO Michael Hsieh. “Supply chain issues, high container costs and excessive inventory levels have forced most retailers to abandon starting prices, creating problems for retailers looking to drive traffic and generate sales. I caused it.
“What we found in the market was that key customers were keen to reduce inventory levels and reposition their retail floors at entry-level price points,” he continued. “Lifestyle has always been a value leader in both case products and upholstery products. We have had several new products with market promotions that have created a custom market for us.”
In interior decoration, the company targeted lifestyle living, functional stationary, modular seating and movement. The new Cleo, Dylan and Bailey small stationary sofas retail for $599 to $699 and offer several different style options to suit consumer tastes. In the new “Functional/Adjustable Stationery” category, retail prices for sections range from $1,999 to $2,999.
“What we're hearing from our customers is that they're seeing a slowdown in business and they need values that they can promote on the floor,” Hsieh said. “With us, everything comes back to value.”
In case products, the company has introduced several dining and bedroom groups, focusing on casual dining. “In some cases, casual dining still seems to be driving the category. That's why we introduced groups at different price levels,” Xie said.
One notable new product was a group of oak veneers with fabric-covered seats. The table and 4 chairs are being sold FOB from Vietnam for $349.
“Overall, the market was crowded with people, and our retail partners also came to the market to shop,” Xie said.