CIT: Housewares Execs Look to Stronger 2014 Sales

CIT logoNEW YORK-More than 70 percent of middle-market housewares executives expect stronger sales for their products in 2014, according to a survey conducted by CIT Group.

Given that positive outlook, 50 percent of the responding executives also said current economic conditions are straining their financial performance, and 79 percent said their performance is closely linked to the U.S. economy.

Despite these concerns, 38 percent of the survey participants said they see increased demand for upscale, premium housewares. Also, 34 percent said they are targeting consumers who want upscale, ergonomic, leading-edge technology and "high design" products, CIT said. Thirty percent of the executives said they are aggressively pursuing the market for more modestly priced housewares.

Jon Lucas, president of CIT Trade Finance, said, "Manufacturers are telling us that they are seeing an uptick in demand, particularly in upscale items, and that's a very good indicator that the economy is improving."

The survey also found that 27 percent of the executives are taking "significant steps" to shift offshore manufacturing back to the United States in an effort to help reduce shipping time (16 percent), improve quality (14 percent) and promote sales by being able to label products "Made in America." Also, 50 percent of the respondents said they are aggressively pursuing sustainability initiatives in their product lines.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover


    August 2017

    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.