David Francis Furniture :: Blog

Back in Economics class, we were all taught that price is essentially the cost of producing the product plus any profit factored in. Price is driven by supply and demand. Price is a number. It’s devoid of emotion. It is what it is.

Value, on the other hand, is WORTH. Value is determined by factors like exclusivity, rarity, customization and quality. Value makes a person feel good.

Common, mass-produced products may have an appealing (low) price, but do they carry value? Are they special?

Next time you are drawn to an item because of a low price, make sure you are buying it because you feel it has value. If it’s not special, if it doesn’t make you feel good…wait for something fabulous.

On a recent LinkedIn forum, someone posed the question to interior designers “what is your greatest challenge in the current economy?” Because there are so many diverse challenges these days, I thought this was a great question.

I think, for us, not being able to “create” a customer is a challenge. Unlike food, water and shelter, furniture is not a necessity. And with the collapse of the housing market, furniture is father down the list of “wants” than it used to be. If people just aren’t buying furniture, you can’t convince them to. We aren’t an impulse buy.

Luckily, David Francis Furniture is seen as a value. Our furniture doesn’t become dated or fall apart after a few years. So, we are still selling to people who want to invest in furniture they’ll have forever. But, we are definitely ready for the economy and consumer confidence to improve!