Managerial implications
Globalization has changed the competitive environment of most manufacturing industries. Information technology and particularly the internet led to a power shift from manufacturers over retailers to consumers. As a matter of fact, consumers have access to market information that only well-connected retailers or importers had some years ago. Consumers now may compare products from all around the world before taking buying decisions. In that context, the direct interaction with consumers becomes essential to create the most appealing value offer. The present study showed clearly that furniture retailers are in the best position to interact with consumers. From a managerial point of view, furniture manufacturers have to assess how to establish a direct consumer relationship. The internet offers the opportunity to interact with consumers, but considering the relatively low importance of that communication channel in the furniture buying process other strategies seem to be more attractive. The development of a tight relationship between manufacturers and retailers may have the potential for manufacturers to improve their consumer knowledge. Some manufacturers in Europe and North America opened stores under their own brand name. That strategy has advantages and creates the direct consumer relationship manufacturers should seek for. However, starting a retail business is of high-financial risk for the manufacturers and 159 should be analyzed and planned very carefully.