The majority of retailers surveyed by TD Bank during the summer Las Vegas Market say first half business met or exceeded expectations and they expect sales to hold steady or improve in the second half. That’s despite a strong belief that proposed tariffs will ultimately lead to higher furniture prices.
Furniture retailers should take advantage of one of their most effective tools while they're still a cost-effective option. Quarterly hikes to the federal funds rate will limit the financing options retailers can offer their customers. While the Fed is expected to raise rates again in September, furniture retailers nationwide can still take advantage of the strong market and consumer demand by leveraging financing programs that grow sales and encourage repeat business among a growing millennial customer base.
TD Bank's U.S. Partnerships business – a U.S. credit card issuer – recently announced that it has signed a multi-year agreement with Darvin Furniture and Mattress, a landmark home furnishings retailer operating in Chicago for 98 years. Through this partnership, TD will provide Darvin Furniture and Mattress customers with private label credit card financing options.