The Office Furniture Market Slowdown: Bad News?
According to mlive.com, a business index of 10 important business indicators shows that the sky-high office furniture industry is starting to come back down. A survey conducted by Michael Dunlap, who is an industry analyst and owner of Michael A. Dunlap & Associates of West OIive, Michigan, shows that the furniture market is slowing down a bit.
This slowdown is not as bad as it seems. While Dunlap admits that there is a slowdown, “it is not slipping enough to worry” he says. In other words, his interpretation concludes that the industry is still improving itself, although at a slowly decreasing pace. This shows that the office furniture industry is stable in general, as it is only suffering from a manageable loss of growth, instead of the sudden drops that characterized the dot-com busts of the late 1990s.
While this may be worrying news for the manufacturers of office furniture such as desks, chairs, cabinets, it also represents an opportunity. As the demand for ergonomic furniture, such as those designed for computers, lowers, the supplies remain the same. And Economics 101 will tell you that a decreased demand coupled with constant supplies usually mean lower prices. In this case, the slowdown in the office furniture market represents a decreasing demand for ergonomic office furniture, which may prompt manufacturers to lower their prices.
Finally, individuals and small to medium enterprises (SMEs) may be able to purchase high-quality furniture for their offices. Various studies have shown that as more of the general workforce turns to computers as their primary tool of production, furniture designed for these devices will become more crucial. Aside from the various health-risks associated with the repetitive motion environment of the average office, more comfortable working environments have the potential to increase the productivity and creativity of office workers.
It’s good to see that as prices have lowered, the opportunities to create a more conducive working environment increase. It is also a positive trend that more and more manufacturers are coming out with office furniture models that adjust to the human body. With ergonomics becoming a more popular buzzword lately, and with informative literature becoming more available, it could be that the repetitive stress injury will become a thing of the past.
It is also quite possible that the slowdown of demand is also a result of the office furniture manufacturers’ success. As they effectively produce, market, and sell their products, the potential customer base is becoming more and more saturated. While this may be bad news for any of these companies’ shareholders, it is great news for the customer. The lowering demand will surely lead to a price war. Companies will lower their prices in an effort to make their various chairs, desks, and cabinets more appealing to buyers.
Whatever happens, you should always consider getting well-designed and ergonomic office furniture for your office. Even if the prices remain expensive, despite what has been said in this article, the money spent purchasing equipment and facilities that cater to your needs is capital well worth spent.
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