I correspond with many interior designers, store owners, importers and manufacturers daily. We use to spend more time discussing market trends. Now the topic is the state of the economy, tariffs and where we're headed. Without exception, owners are concerned. It's little consolation that we're in this boat together. People have various ideas about what's created the current market conditions including uncertainty, tariffs, world conflicts, politics, interest rates, inflation etc. In my view I think all of these things contribute.  

  Many small businesses are having a very difficult time navigated this period. Several of my oldest customers are calling it quits. So where do we go from here and what to do? Well, I'm seeing a bit of activity after a big lull. We're fortunate in that our expenses are somewhat manageable, and we are positioned to offer good value because of our buying position. We've been around long enough to have a fairly substantial customer base. How can the rest of us manage?

  It appears that there is still some buying and building happening. You have to tap in the best you can. If your regular target customer is not active, then you have to expand that target group. Let others know that you're in the game. Find new channels to contact new customers. Retailers may find that the market becomes even more competitive with other retailers offering deep discounts just to turn inventory into cash. It's better to survive the slow times and live to see a better day than to hold out for normal price points. If a retailer can set themselves apart from the rest, offering unique, desirable product, then they'll have a big advantage. On that note, I'm seeing many companies that appear to be mirror images of others. That applies to both retail establishments and interior design firms. Instagram and the internet in general facilitate this. Folks see something that appeals to them and replicate the look. The creative element takes a back seat. That's not setting yourself apart.

   

   Hopefully, things settle down and the business environment for discretionary goods and renovations rebounds before too long. I wish everyone the best during this period.

Wally Stryk   Asian Art Imports   www.asianartimports.net