Furniture business feels economic pinch

Our nation’s plan to bail out big business is having an effect on smaller ones here in the east.

In these tough economic times, many are cutting back on how much money they spend on things they want.

Lucky Ethridge works at the Rose Brothers Furniture store in Greenville. He has been in the furniture business for the better part of 40 years but says the recent down turn in the economy has meant a slow down in what his customers buy.

Ethridge said, “Traffic has tapered off about 40 percent but business has continued to be good because we get a lot of repeat customers.“

But potentially new customers are spending less money on things they don’t need right now to survive, and that’s forcing companies like Rose Brothers Furniture to change how they do things.

“We’re cutting expenses and working harder and trying to work smarter,” said Ethridge. He added, as the economy keeps changing, so does the furniture business in our state. “For 150 years, North Carolina was the furniture capital of the world of course that’s changed. The furniture capital of the world now is China, Vietnam, and Malaysia.“

Despite the changes in the business and the uncertainty of the economy, Ethridge is confident things will bounce back.

He said, “Every dollar has to count and we still have faith in the buying public and out country. We thing we’ll overcome this.“

He hopes this bump in the road will smooth over with the holiday season right around the corner.

He explained that a lot of the furniture you buy is now shipped overseas to be made and that means lower prices for the consumer. However, what we make up for in savings, others are paying for as their jobs disappear.