Are we in a “niche market”?

It might be a good thing if we are. According to a recent article in the New York Times, small specialty shops catering to the "high end" are doing much better overall than large sale manufacturing. And this includes small woodworking and furniture making shops.

It seems that the market for expensive items, while maybe not as strong as it could be, is, like the Eveready bunny, still going. But, apparently, being able to offer high quality and unique design gives the small manufacturer a completive advantage. And smaller companies are typically lighter on their feet, which can help them make it through a difficult stretch easier that their larger more cumbersome counterparts.

Also at work here is a phenomenon we have seen before. When things get tight, people tend to want to improve their environments. A nicer table might make it easier to deal with the fact that they are dining at home instead of at their favorite restaurant.

D.D.