Bassett, Va.: Bassett Furniture says investments in artificial intelligence (AI), customer analytics and targeted marketing are helping strengthen retail performance despite continued softness in the housing market.
Speaking after the company’s fiscal second-quarter results, Chairman and CEO Rob Spilman Jr. said Bassett has seen encouraging retail momentum continue into the early weeks of the third quarter, driven by several strategic initiatives rather than a single factor.
According to Spilman, improved customer insights and enhanced analytics are enabling the company to make marketing investments more efficiently while better understanding consumer behavior.
The company has also begun integrating AI technologies into its operations, which management sees as a significant long-term opportunity to improve customer engagement and business performance.
Bassett reported that its Memorial Day promotion generated a 14% increase in written sales on 4% higher customer traffic. The company attributed the performance to stronger customer conversion rates and several high-value interior design projects, including multiple orders exceeding US$100,000.
Chief Financial Officer Mike Daniel noted that while retail traffic has continued to decline across the industry, Bassett has improved its ability to convert visitors into buyers.
The company’s digital strategy is also contributing to growth. Enhanced website navigation and product customization tools have increased online sales of custom upholstery, with management describing the website as an extension of its physical retail network rather than a competing sales channel.
During the quarter, Bassett opened a new corporate-owned store in Cincinnati, with another location planned for Orlando later this year. Management said the Cincinnati store has delivered stronger-than-expected early sales performance.
Looking ahead, Bassett remains focused on strengthening its retail operations through continued investments in marketing, technology, merchandising and store expansion while navigating ongoing macroeconomic headwinds.
