Stump Reports on Spring 2025 High Point Market Activity
Charlotte, NC, May 2, 2025-Stump issued the following report about the spring 2025 High Point Market, “2025 was supposed to be the year for revival and growth in home furnishings: remember the saying: ‘survive to ’25, then thrive!.’ Well, that has not happened. The initial harbingers of the Trump bump after the election, the soaring stock market, and hope for lower interest rates seemed poised to push our industry back into growth mode. However, the trade wars, uncertain interest rate outlook, and the stock market correction have complicated the picture…for now.
“These concerns echoed throughout High Point this past week, and attendance seemed off-likely due to a mix of some international holdouts and certain retailers pulling out last minute (we also heard some cite Spring Break conflicts as putting a damper on attendance).
“Most CEOs still believe the underlying fundamentals support long term growth for home furnishings, and strong players are making talent and technology investments to take advantage of the uptick. It is just a matter of timing. As one CEO shared with us, ‘We know things are going to change. We just don’t know when. It could be tomorrow!’
Top of Mind for CEOs
- “The 90-day pause on tariffs have helped ease the tension for those not sourcing predominantly from China, yet most executives remain uncertain about what happens at the end of the 90 days, or if there is a short-term solution to the higher China tariffs.
- “The NAFTA 2.0 (or USMCA) was also a frequent topic of conversation, given our many Canadian and Mexican neighbors selling furniture into the U.S. market. We even heard stories of retailers shopping the market exclusively for North American products, effectively considering our neighbors as domestic suppliers. It should be noted those falling under the USMCA umbrella have some concerns that the zero tariff rates may not remain in place once the trade agreement is up for renegotiation in 2026.
- “Canadian clients are seeing a surge of in-country sales, as the Canadian population has embraced a patriotic stance in the face of the tariff discussions with the U.S.
- “The higher-end of the market remains strong, and the wealthy continue to spend – many using designer/decorators. Companies are chasing the designer business, as that channel continues to grow.
- “Most business owners are reviewing their strategies and cost structures and making shifts to focus on core businesses and top performers. In reading the daily/weekly furniture articles, we clearly see these shifts being made – and expect more to come. This is a time that calls for strong leaders and focused management teams. The executive search folks are very busy these days as well.”