Pier 1 Imports Deals and Discounts Guide
In the current highly competitive climate, many companies find it difficult to stay afloat and thrive. As Walmart, TJ Maxx, Amazon, and Wayfair continuously expand into home goods market, saturating it with affordable goods, stores like Pier 1 Imports struggle to maintain their footing and market share.
The latest quarterly Pier 1 Imports sales report was disappointing with 11.4% fall. Brand’s senior management recognizes that both active and less-active shoppers find the store a bit overwhelming.
A lot of merchandise does not reflect the latest trends and the products that do, get acquired too late in the game. Pier 1 Imports could really benefit from more unique merchandise, especially when so many competitors are replicating the once signature style of the store.
Pier 1 Imports sees the silver lining with a new strategy of rebranding and offering a more eclectic style that could appeal to more millennials. The atmosphere inside the stores is also going to undergo a major overhaul with widened isles and less clutter. This new strategy is already being tested in Texas Dallas-Fort Worth area.
There is a concern that those changes are taking longer than expected while revenues continue to drop. This is not lost on the Pier 1 Imports executives and hopefully things will get corrected and start looking up for this beloved retailer in time.
We walked into a Pier 1 Imports store in New York, City, Upper East Side, to see the trials and tribulations for ourselves. Unfortunately many issues are definitely true. Here is what we experienced:
- The front of the store had Halloween products for up to 25% off, making it a nice way to stock up for the next year.
- Most of the store was decked out in seasonal products. Furniture and décor were more traditional than contemporary.
- Shoppers had a computer on the first floor to find the items they wanted that were currently out of stock in store. Those products could be ordered and then picked-up in store within 14 days. Amazon and Wayfair offer2-day delivery, beating Pier 1 Imports here.
- Almost everything in the store featured some kind of sale.
- Most items in the store were under $200, with some bigger furniture costing $500-$600.
- The prices were not too bad, but the selection of products lacked variety and trendy offers.
- Some sections, like blankets and pillows, seemed to be monotonous and feature limited selection of colors and styles.
- Décor pieces were very affordable, between $25-$100, but lacked uniqueness. You could find the same things at any other competitor stores.
- The entire wall was dedicated to clocks that were priced at around $200. Some of them were very nice.
- The store did not seem too cluttered, but it lacked organization and structure with items scattered around the store randomly and stacked all the way to the ceiling.
- The choices of larger furniture, like dressers and vanities, were limited to just a few items that lacked uniqueness and style.
- Clearance section had a large variety of items – from chairs and patio furniture to tableware and all sorts of other items.
- Many shelves throughout the store seemed a bit empty.
In conclusion, Pier 1 Imports is definitely going through identity crisis in hopes to rebrand itself and attract a new generation of young shoppers. It definitely has potential, but it also has a lot of obstacles to overcome on a path to success.