January 2025: Industry Update with Doug Cofiell
As we enter 2025, Ivystone CEO Doug Cofiell shared his perspective on the current retail landscape. Reflecting on 2024, Cofiell acknowledged it was a challenging year for the gift and home industry, marked by lingering effects of the pandemic and a slower overall pace. However, the year ended with a strong fourth quarter, as holiday sales surged and inventories dropped, creating a solid foundation for 2025.
Looking ahead, Cofiell is optimistic about the opportunities the year holds. Independent retailers remain resilient, bolstered by healthy balance sheets and demographic trends such as millennials entering their prime spending years. Additionally, vendors have stepped up with innovative new product offerings, addressing a key demand from retailers.
Economic factors like the housing market and tariffs present challenges, but they are not expected to derail momentum. While housing transactions remain low due to high-interest rates, most vendors have taken a proactive approach to ensure steady inventory levels. The situation with tariffs remains uncertain, but early signs indicate it will have minimal impact on buying patterns.
With a mix of headwinds and tailwinds, the industry is positioned for modest single-digit growth this year. As always, Ivystone remains dedicated to supporting its customers and helping them navigate the evolving retail landscape.
Thank you all for your business, we appreciate all you do, and please reach out to anybody at Ivystone with questions. We are always happy to answer questions or help in any way we can.
