It’s not a question exactly. Of course you want to stay in business, but if you’re like a lot of other dealers out there you’re finding that stuff just isn’t moving. Everyone is downsizing. Furniture and glassware is gathering dust. How long do you have to look at this stuff? How long do you have to personally subsidize your business?
Folks, things are about to change but you have to change with it. If you want your business to grow, learn everything you can about the desires of Generation Y now.
Walking around the Grapevine Antiques Mall yesterday, my long-held conclusion was reinforced. The boomers are downsizing and disposing, but the Millennials (Generation Y) doesn’t want what their parents are selling. Bug suprise there. Generation X? It’s just too small to make much of a difference.
This morning on Housingwire, came more reinforcement. The rental market is set to explode. Why? “there are about 3.4 million units of pent up demand for rental housing bolstered by young adults who either live at home or are rooming with a friend to save money.
Should you ditch the antiques and buy rental units? There’s a simpler solution- get ready to restock these apartments. It won’t be Regency furniture they’re looking for, however. That stuff will continue to sit.
Think Vintage. Think small, and think affordable.
Want to stay in business? Sleep, eat and breathe Generation Y.