EVOLVED RETAIL - NYers Stronger Than Ever
IFDM asked several prominent players in the furniture and design industry how retail is evolving in a world affected by Covid-19. Here is Siamak Hakakian’s, ddc Group Partner, point of view:
The lockdown has suspended our lives. How did it affect the sales?
Sales for everyone have been seriously affected as a result of the pandemic. Many consumers lacked any appetite to make big purchases during the lockdown, for a few reasons. The uncertainty of everything was certainly one, and the fact that the Italian factories were closed for most of April made the timing of deliveries just too big of a question mark. The silver lining, though, is that we believe that clients will decide to invest more in their homes as a result of this new reality. Many of us will likely use our homes as the hub or our social lives, as we entertain in a more intimate, and safe, way.
What is the furniture market like in New York at the moment?
NY has been a hot spot in the U.S., and as such, will likely be affected more strongly than other markets which weren’t hit as hard. But, as history has shown us time and again, NYers always manage to rebound quickly. After 9-11 and also post hurricane Sandy, we saw similar responses, but NYers came together, and with determination, moved past these difficult periods more quickly than anticipated.
All the biggest design weeks are gone, as Salone del mobile in Milan or ICFF in NY. Does this affect sales, proposals and your way to keep contacts and client’s relationship?
We have to at least consider that this may well be the new norm moving forward. So, we will all need to strategize and to think creatively about the way that we will work in the future. I think that digital and online marketing will play an increasingly important role.
What is the strategy for maintaining your leadership, in a city with a lot of competitors, facing this unprecedented period?
For us, it’s always all about keeping the lines of communication open with clients, and being able to serve as a quick, reliable and efficient resource for them.
What were the biggest projects you had before the block and how did you manage to carry them out?
We have not had to put any projects on hold, actually, as we firmly believe in the recovery of our industry. We had just begun construction on our Minotti Boston showroom when this hit, but it was never a question as to whether or not to move forward. I really believe that we will emerge from this unprecedented crisis even stronger than we were before it hit.
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