I recall a product line in which an antiques dealer had begun replicating classic "steamer trunks" and Restoration Hardware had picked the items up in their catalog. This was during the boom, when airlines were tightening up carry-on size (and losing more luggage) and TSA was limiting what can be carried on. Hotels began catering to frequent guests by allowing them to store a steamer trunk in the Hotel, which was brought up and set out in the room when the guest arrived.
A steamer trunk harkens back to the old days when people would travel for say few months at a time, by steamship line, wherein storage was plentiful so a large trunk with all of you clothes needed for a few months and accoutrement was no problem. AS travel time shortened and costs lessened, we learned to travel light.
I see now Restoration Hardware in its current catalog has moved the items to its cover and is selling these trunks as furniture, and showing them integrated into home decoration. I still have a few steamer trunks in my home from my impecunious youth. They work well. If Restoration hardware has moved them to the cover, it is because they have been selling well.
When I was a rug merchant (and I am again, apparently...) a story dealers often told was areas carpets were popular in Europe because valuables can be thrown in the center and it can be quickly rolled up and taken away in the event of invasion or whatever. Wherever you end up, you feel homey again after you lay out the rug. Rugs and steamer trunks, useful when things go bust.
What was introduced as an extravagance for wealthy during the boom has been repositioned as a staple during the bust.
1 in 8 Americans are behind in their mortgage payments. This has to be the largest single market segment demographic in USA, (The remaining 7 of 8 would break down into too many demographics to match the size of the 1 in 8). Packing your things INSIDE your furniture and moving is going to be useful, especially for renters who find out the owner has not been making mortgage payments and the renters have 15 minutes to clear out before the Sheriff seals the premises with the renters' possessions forfeit (something new laws will not fix).
People are walking away from their homes for various reasons. Say one sees clearly that they can make maybe one or two more mortgage payments, and they will lose the house anyway. Might they simply decline to make the payments, save the several thousand dollars, buy some nice steamer trunks as furniture in their new digs, and pack them up and throw the keys in the mailbox? Some will, but apparently enough are buying trunks for whatever reason to cause Restoration Hardware to make it a cover story. At some point a furniture and housewares style will emerge, and there will be a name for it, like antebellum, art deco or some such.
Saturday, June 6, 2009
Restoration Hardware - Trends
Posted in Business strategy, design, New Business Opportunities / Trade Leads by John Wiley Spiers
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