As Manufacturers Buckle, Winners Emerge From Havoc
While major retailers have gone bankrupt and manufacturers are being shut down throughout this harsh recession, a survival-of-the-fittest business strategy has allowed the more fortunate firms to reap the benefits.
Stealing business from other victims is one of the few existing avenues for growth during these troubling times.
In a quest for new customers under its medium price umbrella, Craftmaster, a furniture company based in North Carolina, pounces on opportunities to supply parts, fabric etc.
Craftmaster’s strategy could be questioned from an ethical standpoint, but executives simply attribute the cutthroat behavior to a sign of the times.
Taking over for ‘fallen soldiers’ has allowed Craftmaster to gain a hefty portion of the market share greatly increasing revenues.
This result is in stark contrast to the rest of the U.S. furniture market, which has greatly diminished in connection with the crumbling housing market.
Photo by Craftmaster.
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