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Residential Lighting has until now been driven by housing sales. With the latest numbers about U.S. home sales, products will have to find new drivers and new incentives for consumers to step up. I think that driver will be Innovation. Lighting, like home furnishings and accessories, wont find business as usual a sustainable direction. Fewer home sales means fewer customers in the market to buy and price alone will not pry that credit card from customer wallets. Makers and sellers alike will be challenged to attract discretionary dollars with new products that offer new, better, more interesting and more “…cant live with out” innovation to turn shoppers to buyers. Wall Sconces Lighting companies have since WWII relied on huge product assortments to attract dealer interest and customer sales. Expanding the range of shapes, finish and styles worked for a long time as makers and retailers continued to expand assortments as the way to entice customers to spend. The world has changed and so has our reality and after a period of over half a century of growth housing sales the market is contracting and so will our model unless we drive demand with innovation. The simple truth is you can’t only take air in. We are focused on sustainable growth, no small challenge given the state of China’s supply issues and our market condition. We are focused on relevance, innovation and value and not bloating our product offerings to drive the business. I believe that innovation will be the key factor in driving demand. You can expect to see us applying our knowledge, our insight and our design skills toward precise objectives in new ways as our strategy for growth manifests in products born from innovation. “Relevant design through Innovation… is our mission.”
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