Dos Marcos Show. What are you really selling? It’s a thought-provoking question, and BedTech Midwest Founder Justin Trombo drops some tangible takeaways — including how you can sell commodity items as a part of a larger sleep ecosystem that benefits your customers and your bottom line.
Must-Read Marketing Advice. Q&A with an industry CEO? Sign us up! This week, Ray Allegrezza sat down with Overstock CEO Dave Nielsen to ask him about Overstock’s focus on furniture, get his advice on succeeding in our ever-changing economy, and see what’s on the horizon for the company.
News and Headlines. There’s a new focus on health in the bedding industry. Take a look at how Hickory Springs Mattress is focusing on the broader health category with its Parker Health Products brand.
Research Data. Warehouses are dominating what price point? Do you know? If you don’t, then it’s time to pay attention. Based on our exclusive research conducted in partnership with Nationwide Marketing Group, research showed that nearly a third of recent buyers spent $500 – $999 and 74% of that business went to Warehouse Clubs and Department stores. So where can you compete? Check it out below!
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Dos Marcos Show
From Sweeping Floors to the C-Suite: BedTech Midwest Founder Explains How to Add Value to Commodity Items
How do you add value to items that might not be seen as necessary?
This week, Dos Marcos chat with BedTech Midwest CEO Justin Trombo to discuss his journey from starting out as an RSA to becoming president of his own company. He discusses strategy, what fuels his drive, and gives tangible advice on selling commodity items as a part of the ecosystem of sleep!
Warehouse Clubs and Department Stores Dominate These Price Points
Our research with Nationwide Marketing Group showed that nearly a third of recent buyers spent $500 – $999 and 74% of that business went to Warehouse Clubs and Department stores.
Sleep shops did well above $1,000, ranking as a top buying location for products in the $1,000 – $1,999 range. Furniture stores didn’t appear in the top two of any price band until the above $2,500 where they ranked number two.
Where should you try to compete? Many retailers have moved up market and are working to sell premium priced products. That’s where the margin lives and that’s where your business can grow. You need to be prepared to sell higher end products by evaluating the entire experience you’re creating. From the parking lot to the back dock, make sure you create what’s expected when someone is spending more than $2,000 on a bed. And when you know what they’re expecting, blow their minds with something surprising and delightful!
Do you offer financing? How about delivery? Make sure shoppers get answers to their questions. Also, make sure they can complete the purchase on your site. When people are ready to buy, they don’t always make a trip back to your store.
Hungry for more useful data? Get the full report for free when you become a FAM+ Member, brought to you by Nationwide Marketing Group!
Q&A With A CEO
13 Questions With Overstock.com President Dave Nielsen
Overstock.com, the online powerhouse launched in 1999, quickly established itself as a source for just about anything under the sun.
But as part of a recent and ongoing reinvention, the company now has a laser-sharp focus on furniture and related goods. The FAM’s Ray Allegrezza had a recent one-on-one with Overstock President Dave Nielsen to find out more.
Find out how to save loads of time and money with photorealistic 3D imagery. In partnership with Live Furnish, join Mark Kinsley and Mark Quinn at 10 a.m. June 15th, 2022 for a live webishow on the art of 3D imagery and how to use this technology to catapult your business.
Hickory Springs Finds Niche In Home Health Category
From adjustable bases to built-in Bluetooth sleep monitors that can track your heart rate and alert you to any potential issues, there are several mattress companies making an investment in the health category. Hickory Springs is one, and its Park Health Products line aims to change the way people look at home care.
A dark and strange novel, “Cari Mora,” by Thomas Harris, author of “Silence of the Lambs, “Red Dragon” and “Hannibal.” This may seem like an odd choice, but I am also a huge fan of Stephen King novels! Yes, I read business and self-improvement books, however, when I am reading for pleasure, I like books that take me to totally different places, ones that I could never dream of.
Adrienne is listening to:
I really love “Crime Junkies” and I’m several weeks behind, so I’m in the middle of a marathon binge! Plus, the host, Ashley Flowers, has just written her first book which publishes in August, so I’m vying for a chance to be a beta reader and get an early copy!
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Never underestimate the power of influence! It may seem counter-productive to spend money to make money, but believe us when we say it works. Consider partnering with a local influencer in your area to help design a few signature pieces and then host an influencer event where people can come meet the influencer in your store. In addition, offer the designated pieces as limited time only and only available in-store!