Surpassing 1,000,000 listings
August 2023
Good Evening everyone — excited to drop back into your inbox with a late summer edition of our beloved recliner club. There’s much to share & update y’all on, from some thoughts on the current climate, passing 1m listings, and our HOT sizzler video. So let’s get right into it, shall we?
Let’s talk about the current macroeconomic climate in the furniture & home category. Without sugar coating anything it’s a very challenging time for everyone right now. Some of the key factors impacting the retail environment are inflation, consumer apprehension about the potential for recession, and a shift in how/what consumers are prioritizing to spend on.
Inventories are still very high. In many cases manufacturers & wholesalers are still very much trying to make their way through the merchandise remaining from 2022. Supply remains close to an all time high and taking up much of the space at the back of retail stores and in warehouses. Trying to turn the goods has been tough for many.
Despite the headwinds I remain pretty confident in the big opportunity ahead of us. Taking a long-term view when planning where to invest is what will separate the good from the great companies — and in fact I’m seeing first hand how many of our trusted partners & customers at Bear are doubling down on digital transformation, modernizing their internal stack (Ie ERPs), revamping their supply chain, and also reorganizing their teams.
CFOs and finance leaders have more of an outsized impact on overall strategy & direction than I’ve seen in a long time.
It’s also worth noting that CFOs are becoming the new CEOs; what I mean by that is in order to lead and navigate through a downturn all decions must be rooted in what’s best for the income statement. We’re seeing many folks get back to fundamentals, focus on less things at a time, and lean into your whatever your competitive advantage is. I happen to believe that tough times force folks to become relentlessly resourceful — which in part helps create more sound & robust companies.
The ticker: Very relevant reads 🔥🔥🔥
Overstock is now Bed Bath & Beyond (The Washington Post)
Klaussner Furniture suddenly shuts down (Yahoo News)
With Klaussner Furniture closing their doors, their top 10 retail accounts will need to fill a void of roughly $200m in business. Here's how it shakes out:
1. Mattress Firm: $50.8 million
2. Wayfair: $40.5 million
3. Burrow: $30.4 million
4. Jordan's Furniture: $13.9 million
5. Bernie & Phyls: $8.8 million
6. Nectar: $8.3 million
7. Macy's: $7.5 million
8. Havertys Furniture: $3.5 million
9. RC Willey: $3 million
10. Nebraska Furniture: $1.9 million
We passed the 1,000,000 furniture & home goods listings milestone. Passing our millionth Bearifed listing is a massive testament to our team & our customers. Going forward we’re mostly excited to continue helping manufacturers experience true catalog confidence with listings that they love and trust.
If you want to learn more about how we help leading brands like Dovetail Furniture, Bernards, Brown Jordan, Kuzco, Eleanor Rigby Home, and so many others build some of the best listings int he world, get in touch with us here 🎉
Brown Jordan Inc. honors their 75-year legacy of innovation with Bear. Based in Pasadena, California and founded by Robert Brown and Herbert Jordan in 1945, Brown Jordan is THE pioneer of outdoor furniture and the largest outdoor furniture brand in North America. During the summer of 2021, Brown Jordan began strategizing the next stage of their innovation—this time, focused on technology. Read about their journey.
We LOVE our customers. Here’s a short 30s video about what our customers have to say about partnering with Bear. You don’t want to miss this. Trust me.
Want to join the Bear Team? We’re hiring for a Customer Success Manager to work closely with our customers in the mid-market segment.
If you like what you saw, join the recliner email club to stay up to date with this kind of stuff, every month. I also choose one lucky subscriber every time and give them a $50 Snackbox to enjoy 🎉
Thanks for being a free subscriber to The Recliner Club. Hopefully this has been valuable to you. I am a big believer that knowledge is power and sharing information leads to better results for all. A rising tide floats all boats.
Enjoy the rest of your summer!
Sam Vlessing
CEO, CommerceBear