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Retailers share biggest challenges they expect to face in 2024

Retailers share biggest challenges they expect to face in 2024

From the outcome of the Tempur Sealy deal to increasing store traffic, retailers have plenty of worries to occupy their minds during the day.

But what keeps them up at night? 

We asked a few retailers what challenges they were expecting to face this coming year and found that increasing the efficiency and quality of marketing, and hiring dedicated workers are two big issues.

“We’re looking for more quality employees like who we have to meet our goals,” says Scott Vaughn, president and CEO of two-store Happy Zzz’s Sit n’ Sleep in Kentucky. “Our marketing strategy is working well, but now we need more quality sleep consultants to help them and are going to need another delivery crew to get them their stuff. Good problems to have, but still problems.”

Tim McDonald,  general manager of At Home Furniture and Mattress Superstore in Albany, Oregon, says he agrees and that hiring more top-notch employees will give him more time to focus on back-end processes. 

“It’s hard right now managing everything plus selling, ordering, forecasting, merchandising, advertising,” he says. “Beyond grateful God has put me in this position, but the one thing I desperately need this year is help.”

A marketing strategy is always important, and many even say it’s most crucial to up your advertising when sales are down. But, it can be hard to get the hang of marketing when you’re a tried-and-true mattress salesman — it’s a whole other job.

“I am hoping to develop a better marketing strategy, but I still haven’t done anything more effective than Facebook Marketplace posts simply because I don’t have the budget,” says Joseph Clay, head of operations at Count Sheep in Clarksville, Arkansas.” But I feel like I have quite a bit of forward momentum right now.”

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Many retailers are optimistic about sales this year, however, competition will be fierce. Consumers are still generally wary of spending, and it seems like mattress stores are popping up all over the place. And that includes both large chains like Mattress Warehouse as well as independent entrepreneurs inspired by the category. 

This isn’t necessarily a bad thing — and can be good if the new shop ends up driving traffic to you. But opening a mattress store isn’t something someone does without a solid business strategy. And as Chuck Spivey, owner of Clarksville, Kentucky-based Chuck’s Beds, says, he is ready for a fight.

“I expect a couple more stores to move into my town this year, and I think they will be aggressive,” he says. “So I will be fighting again.”

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