The President’s Perspective: November 2024
The President’s Perspective: November 2024
Jared Connors
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As we near the end of 2024, it’s clear that the economic landscape is changing, and our industry has to adapt. At our hearth store, we’ve been carefully observing trends in the market for fireplaces, barbecues, outdoor products, and hot tubs. One thing is certain: The demand for outdoor living spaces and home upgrades remains strong, but with rising costs and inflation, customers are becoming more selective with their purchases. The balance between offering quality products and maintaining affordability has never been more critical. Spoiler alert: It’s a lot harder than it looks.
The balance between offering quality products and maintaining affordability has never been more critical.
Over the past several months, retailers in our niche have faced some hurdles. Supply chain disruptions and fluctuating costs are still challenges, but many of us have learned to pivot quickly. One big lesson: When product costs are rising, you can’t just carry anything that’s hot on the market—you have to find the right products that fit your store’s vibe and your customers’ needs. And let’s be honest—if you don’t 100% believe in the product, no one’s going to buy it. When you stand behind a product, it basically sells itself. Sometimes I think the fireplaces do a better job pitching themselves than I do!
In response to market shifts, we diversified by adding hot tubs and spas to our product lineup, helping us meet more of our customers’ needs. It’s been a great way to offer something that delivers long-term value. Customers are looking for products that aren’t just flashy today but will stand the test of time—and if they can save money in the long run by being cost-efficient and durable, even better. With rising costs, people want products that are built to last, and that’s where we’ve focused our efforts.
With rising costs, people want products that are built to last, and that’s where we’ve focused our efforts.
Looking ahead, the hearth industry needs to focus on providing high-quality, long-lasting solutions that make sense for customers’ budgets. The best retailers are already investing in products that deliver real value—whether it’s through energy savings, durability, or just being the best fit for their customer base.
For the future, it’s clear that companies must stay ahead of consumer expectations. Those that succeed will be the ones who not only offer high-quality, cost-saving products but also adapt to new technologies that streamline the buying process and provide exceptional customer service. As a retailer, we are constantly learning, and this ongoing evolution is what will drive us—and the industry—forward in the years to come.
Jared Connors
Jared is the Owner of Classic Stoves & Fireplaces in New Brunswick, Canada.
