PMP conducts 30 to 50 high-profile sales promotion assignments annually. Additionally, it consults with scores of other furniture retailers on issues related to their strategic plans, financing requirements, and market-entry and market-exit strategies. The company recently introduced a proprietary web-based interface that delivers real-time data to customers and PMP staff regarding the status of ongoing projects.
Taking a strategic and consultative approach is central to PMP's sales promotion methodology. The firm works closely with clients to understand their current situation and future objectives. Wherever possible, PMP strives to salvage an under-performing retail outlet rather than immediately embark on a liquidation. In fact, PMP has a long history of helping clients turn-around struggling outlets without resorting to outright store closings.
A core philosophy pervades every assignment PMP undertakes: that any liquidation or restructuring situation can be successfully resolved through proper planning and competent execution. Importantly, PMP advisors have kept pace with the massive market changes that continue to shape the retail industry landscape and furniture retailing in particular.
PMP brings a multidisciplinary approach to each assignment - tailoring its services to meet the precise challenges facing a client relative to its specific market standing and fiscal foundation. The firm maintains extensive lines of credit and is able to secure financing for clients that require it to ensure the success of an individual sales promotion event or a multi-location liquidation program.
Preserving the client's brand reputation is a principal objective on every PMP assignment. The firm works diligently to safeguard the client's brand image and, at the same, preserve its relations with customers, employees, business partners, financial intermediaries, and other stakeholders.
PMP is an active member of prominent trade and professional associations including the National Home Furnishing Association , the International Home Furnishings Representatives Association , the Greater New York Home Furnishings Association , the Metropolitan Home Furnishings Association , and the Tri-State Home Furnishings Association. PMP representatives also attend all major industry events, such as the national trade shows held annually in High Point, NC; Las Vegas, NV; and Tupelo, MS.
The company is currently presenting an ongoing series of seminars on "Is Your Business Ready for the Next 5 Years?"
How We Do It
Once we make contact with you, we prepare and send a proposal which includes a profit projection, an overview of how PMP would conduct the sale based on our initial analysis of your merchandise and overhead situation, and several contact references. If you decide you like our approach, our regional manager sets up a time to meet with you, see your store and warehouse, measure your windows and draw up an agreement with a guaranteed profit margin. After the agreement has been signed, our office staff contacts you to initiate the start up of your high impact promotion. While you exchange information with our advertising department, our regional manager sets about to select the most suitable personnel for your particular store and coordinate a merchandise program that integrates new resources with your existing inventory with a controlled level of buying designed to maximize the potential of the sale.
As your Advertising Calendar begins to take shape, the first Advertising Meeting is held to decide what media is best to utilize for your promotion (Direct Mail, Mobile Campaign, Newspaper, Circular, TV, Radio). You receive proofs and must provide your approval on everything before it is released to production. Sample Calendar (Click to View)
Your promotional store manager arrives on site approximately one week before the event begins. Your window signs, banners, tags and showroom flair arrive as well. We usually suggest the store close the day before the sale starts in order to prepare properly. The temporary sales staff arrives a few days ahead of time to help re-tag your store and create an exciting atmosphere for your customers. We guide you in maximizing your floor space and we design the merchandise display for the best possible presentation to the public. The first few days of your promotion are usually a PRIVATE SALE offered to your loyal customers, who are notified by mail. Then the event is opened to the public.
Daily journals and weekly reports are available for your review that is maintained through a program designed specifically for our sales. It includes data that determines the progress and profitability of the sale. This is for information purposes only and not intended to replace your store's accounting system. Our advertising department stays in close communication with your temporary store manager to monitor the results of the media selection and adjust ad content and placement when needed. Our National Sales Manager stops in periodically to see that you are satisfied with all aspects of the operation. Our high impact sales generally run up to 12 weeks and might run only 4 weeks if necessary. By the end of your promotion, we should have reached the goal we set out to achieve. Some stores decide to close, many stay in business. The stores who stay in business often return to us for another promotion down the road.
Which Sales Event Is Right For Your Store?
- Cash Raising
- Closing for Restructuring
- Inventory Reduction
- Relocation
- Retirement
- Bankruptcy/GOB
- Special Event
- 30-Day Promotion