The Big Question: Investments for 2024?

This month we’re asking retailers: What is your business looking to invest in during 2024?

Grant Berry – Home World – Mattress & Bed Centres

We are looking to continue investing in our business in 2024. The shop front is getting a face lift to fit in with our move slightly upmarket from where we were. Also, we will be investing in more internal shop signage, such as new hanging signs etc. The big one will be, if the right shop or business comes along, to open another store. We are actively looking for another bed shop(s).

Joseph Shenton – Joseph James Furniture Outlet

1) Physical Locations. 2) Improved website, making it as easy as possible for somebody to order furniture online. 3) Improving the ‘experience’ element of stores.

George Sinclair – Nimbus Beds

In 2024, We are committed to further advancing our presence in the luxury bed manufacturing sector. A significant part of this vision involves the recent acquisition of a state-of-the-art CNC machine. This cutting-edge technology positions us to enhance our product quality, innovate in design, and streamline our manufacturing process, setting new industry standards.

Simultaneously, with both of our retail stores flourishing, we are focusing on expanding our digital footprint. This includes investing in our online platform to enhance customer experience, widen our market reach, and streamline the purchasing process. Our goal is to balance the growth of our physical stores with a robust and user-friendly online presence, ensuring we cater to all customer preferences. This dual approach – embracing technological advancements in manufacturing while expanding our online capabilities – reflects our commitment to excellence and innovation in the luxury bed market.

Nigel Ledger-Lomas – Harvest Moon Interiors

We were excited to be at the furniture show to see and order all the latest from TETRAD. This will be our 30th year, 25 with them. It’s still great upholstery!

Huw Williams – Toons Home Furnishers

2024 will see us invest in installing electric car charging stations powered by our solar panels giving us an additional income stream. We also are introducing a new bedding department into an area which is currently used for storage and extending and refurbishing our existing gift department. As well we will also be carrying out a full refurbishment of our curtain and blind department which is looking a little dated.

Josh Pickering – Sussex Beds

This year we will be investing lots in upskilling our people! Bringing through and nurturing the talent we already have in the business is going to be huge for us throughout 2024.

Matthew Scott – Sopha

We are currently in the process of making some big investments in our coffee shop as it is vital to our business, not only because it drives footfall, but also because it provides a link to our local community. We’re currently in the process of installing new machines, which will allow us to cook in 90 seconds, in what used to take eight minutes, as well as allowing us to increase our menu offerings. We’re excited about this expansion and we hope our community enjoys the upgrade too.

Sohail Khan – Choice Furniture Superstore

2023 has been a major challenge for many businesses, but CFS has managed to survive and thrive despite the difficulties. As we enter 2024, we have a clear vision of how we want to expand our business into more categories and reach more customers. Our strategy is based on two key pillars: sourcing and social media.

Sourcing: We believe that quality and variety are essential for our customers, and that is why we are always looking for new and reliable suppliers who can offer us the best products. In 2024, we will be focusing on partnering with more UK and Europe based suppliers, who can provide us with faster and more efficient delivery, as well as more local and sustainable options.

Social media: We know that our customers are savvy and smart, and they want to find the best deals and the most suitable products for their needs. That is why we are investing more in our social media presence, where we will be sharing more useful and engaging content to help our customers find CFS. We will be showcasing our products, offering tips and advice, and answering questions and feedback from our followers. We will also be using social media to promote our service, offers and discounts, and to create a loyal and happy community of CFS customers.

Martin Lukehurst – Lukehurst

We want to improve our operational efficiency. The main current warehouse is offsite and is not specifically designed for purpose, so efficient running is a challenge. We are therefore consolidating our warehouse facility, re-developing an existing on-site building into a purpose-designed warehouse. Having this on the same site as the store and fit out specifically for purpose, we will improve our operational efficiency. On the customer and sales side, we are developing our ecommerce offering, and plan to hold more niche and bespoke customer events.

Louis Rose – Sofa Club

Our plans are to open warehouse type store in the Northwest over the next year. Our Hertford showroom has been incredibly successful, and we want to replicate that success in the North of the country.

Vic Smith – Vic Smith Beds

This year’s investment, we are looking at updating our outdoor signage, hoping to catch that extra customer’s eye. We are also looking into rerunning our TV advertising. Now in this digital age, they can target the market much closer on the spot advertising.

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