IN THIS ISSUE Message From Abdul Ayyad 3 The Customer Experience 6 “R” Way Training Spotlight 18 Giving Back in 2023 21
2 REGENCY WIRE: Winter 2024 Sell The Sizzle, Not The Steak In the world of retail, this quote by Rory Vaden rings truer than ever. No one likes to fail. There is not one person who does not want to succeed, but the question is this: Are we ready to pay the daily price for success? Success isn’t given; it is earned through daily and consistent behaviors. Success is a daily job! Relentless Pursuit of Excellence What sets successful individuals and organizations apart is their unwavering commitment to paying the daily price for success. It’s not enough to simply want it; we must be prepared to earn it through consistent and deliberate actions. Success: A Daily Job Success is not a one-time achievement; it is a continuous journey. It’s a daily job that requires dedication, discipline, and a relentless pursuit of excellence. It is our collective commitment to excellence that will enable us to always deliver outstanding customer experiences consistently. The Winning Difference In the grand scheme of things, it’s the daily efforts, those seemingly small and routine actions, that accumulate over time and culminate in success. It’s what separates winners from losers. Winners understand that success is the sum of small, repeated efforts, day in and day out. Losers do occasionally what winners do daily. Success is the sum of small efforts, repeated day in & day out. Rory Vaden makes us realize that success is simply a product of dayin-day-out application of habits and disciplined actions. If you are falling short, chances are you’re probably a little behind in the rent. In the world of furniture retail, success is not just about showcasing our products; it’s about selling an experience, a lifestyle. This is where the age-old adage comes into play: “Sell the sizzle, not the steak.” What Does “Sell the Sizzle” Mean? “Sell the sizzle” is a timeless sales philosophy that urges us to focus on the enticing, emotional benefits of a product or service rather than just its features. While the steak represents the tangible aspects of our furniture, such as quality and design, the sizzle represents the intangible: the emotions, aspirations, and lifestyle improvements that our products offer. Connecting with Emotions We must remember that our customers don’t buy furniture simply to fill space in their homes. They buy it to create comfort, build memories, and enhance their lives. It’s our job to tap into these emotions, to help them visualize how our products will transform their living spaces and elevate their everyday experiences. Painting Vivid Pictures To sell the sizzle effectively, we need to be storytellers. When presenting a sofa, for instance, don’t just list its dimensions and material; describe how it feels to sink into its plush cushions after a long day, how it becomes the hub of family movie nights, and how it complements a modern, cozy living room. Solving Problems, Fulfilling Dreams In every sales interaction, identify the customer’s pain points and aspirations. Are they looking for space-saving solutions? Do they dream of a home office that inspires productivity? By understanding their needs, we can tailor our pitch to show how our furniture solves problems and fulfills the space of their dreams. Creating Lasting Impressions Selling the sizzle is not a one-time affair; it’s an ongoing commitment to delivering exceptional customer experiences. It’s about following up, ensuring customer satisfaction, and becoming their trusted partner in creating the home they’ve envisioned. Success Is Never Owned. It’s Rented. Abdul Ayyad CEO Todd Jones, Regency VP of Sales Success is never owned, it is rented, and the rent is due every day.” –Rory Vaden We are what we repeatedly do. Excellence, then, is not an act but a habit.” –Aristotle
REGENCY WIRE: Winter 2024 3 Abdul Ayyad CEO I wish a very Happy New Year to all of you in this first month of 2024! As one year welcomes the next, millions of people are taking this time to reflect on the past year to assess what was, and to envision the year ahead to make choices on what can be. Can you believe it’s been a whole 25 years since we opened our very first showroom? It’s incredible to see how our team has grown, our product lines have evolved, and our position in the market has strengthened. It’s been quite a ride, and I’m truly grateful for each one of you who has contributed to our journey. 2024 will be an important year to accelerate the transformation of both our “Strategy” and “Culture”, and to make a big “leap” forward. A Look Back and A Look Ahead 2024 is the Year To “Leap Forward!” 2024 Our Path to Victory To maintain success in 2024, we must continue to excel at what we do best—delivering unparalleled value to our customers. Henry Ford, Founder of Ford Motors, said it best: Let’s embrace change, uphold our values, and continue to provide the quality and service our guests deserve. Together, we can win 2024 and create beautiful living spaces for all. Here’s to a year of triumphs, growth, and endless inspiration. You can’t build a reputation on what you are going to do.” –Henry Ford
EVERY GUEST COUNTS WAY 4 REGENCY WIRE: Winter 2024 What is RWay? It is our branding for The Regency Way, a commitment to excellence that permeates every facet of our operations: the way we operate, our systems, processes and what we do as an organization to ensure that we are delivering a superior, exceptional, and consistent experience to our valued guests at every touch point. Building on the momentum generated in 2023 and our rich legacy, we are intensifying our focus on transformative initiatives to ensure an extraordinary 2024 campaign and solidifying our stance for sustained success. As we evolve, RWay evolves. For starters, we are incredibly excited with our 2024 plan to deepen the investment in our teams through a robust commitment to training and development. Building on the foundations laid in 2023 with the formation of a new Training & Communication department led by Rachel Ingram that saw the bulk of activity focused on our store and sales teams, we are significantly expanding the scope of RWay training. In 2024, this will include: new Orientation & Onboarding programs, enhanced Store Operations training, elevated Customer Service training and new Warehouse training. In all areas, we will see a blend of updated materials, new content and new delivery methods. While our commitment to training and development will be a constant and never-ending journey, in 2024, more content will be delivered to more employees, more often and more consistently than at any time in our company history, setting the stage for peak performance. Brand leaders Todd Jones (Regency), Parham Azadi (Marlo), and Mike Ritter (Ashley) are aligning their focus in 2024 on strategies to enhance Closing Ratios and Average Ticket metrics. These are critical metrics as their improvement directly implies that we are providing a better experience to the customers in our stores. By championing a holistic approach and rallying support across all departments, they aim to coach and develop teams to ensure we execute our 5 Guest Disciplines. Bedding sales and optimizing consumer financing are pivotal to this strategy. VP of Bedding, Chris Schollenberger, is orchestrating improvements in in-stock positions, policies, rapid delivery, and assortment. Simultaneously, VP William Hall is driving enhancements in consumer financing through vendor collaboration and system improvements to increase approval rates, deepen credit lines, reduce costs, and foster a culture of financing in our stores. On the marketing front, more talent, experience, and horsepower were added to our team with Jeff Magner joining as the Vice President of Marketing. Anticipate heightened marketing efforts aimed at driving more motivated traffic to our channels. Leveraging new and existing third-party relationships, adjusting our media mix, refining creative strategies, tailoring offers and better personalizing our messaging are just some of the tactics to be used as we strive to ensuring the right messages reach the right customers at the right time in their shopping journey to drive sales. The delivery of product to our customers’ homes is a critically important touchpoint in the customer journey and under the leadership of Moe Hamed, our Director of Distribution & Transportation, there are several key initiatives underway and planned for 2024 to will ensure we are doing this better than ever before: complete, on-time and damage free. Their mission and commitment to the organization is to continuously improve processes and services for the highest level of customer service, effectiveness, and efficiency. Key 2024 commitments include achieving a 96%+ successful delivery completion and a 96%+ delivery satisfaction rating from our guests. Efforts to improve reporting capabilities was a key focus in 2023, marked by the evolution of the RMS Reporting system initially focused on the front-end, and the creation of a many new customized reports for other departments. These efforts will be amplified in 2024 and scope expanded to more departments. Improved reporting aids in identifying opportunities, recognizing progress, and celebrating successes. Of note, CFO Sang Han and the finance team are taking financial analysis to new heights, ensuring optimal returns on investments and prioritizing opportunities for maximum profitability. Director of Operations, Jessica Pramanand will further develop the significant strides made in customer service and back-end reporting metrics along with other initiatives to ensure we are better serving and resolving customer service issues. 2024 will witness significant strides in the development of new websites and functionality for our Marlo and Regency brands. Loai Hamed, our Director of Merchandising, has a series of merchandising changes slated for 2024 aimed at fortifying the Regency and Marlo brand assortments. These initiatives are designed to enhance their competitive standing in the marketplace, improve in-stock positions, and drive sales growth. Additionally, we are planning to improve our customer relationship management efforts to more effectively follow up and market to potential customers who visited our stores and websites but did not make a purchase. Growth, a key strategic pillar, will remain at the forefront. We will continue to seek new markets for expansion and are excited to announce the opening of a new stand-alone concept “United Furniture Warehouse”, a 130,000 square foot location offering on-trend styles with unparalleled value to our guests. Finally, we have you…our secret weapon for success. At RMS, our greatest strength lies in our team. With an unwavering commitment to investing in our people and improving our systems and tools, success is inevitable. With your continued support, commitment, and engagement, we will deliver more furniture and mattresses, reaching more homes and satisfying more customers than ever before! Team…2024 is going to be an amazing year at Regency Management Services! We want to thank you in advance for your continued feedback, commitment, focus and engagement. Delivering the Regency Way…RWay...Everyday…for Every Guest…at Every Touch Point. That is how we are going to deliver an exceptional performance in 2024 and beyond. Troy Davis Chief Strategy Officer Dominating 2024 the Regency Way… RWay Everyday!
Strive for 5 REGENCY WIRE: Winter 2024 5 #2. Grant D. Andersen Ashley York #3. Pinkey Babaria Ashley Freehold #4. Sterling Moses Ashley Hunt Valley #5. Kimberly Keegan Ashley Whitehall II #6. Gamal Kotb Ashley Salem #7. Marybeth Connors Ashley/Regency Manchester #8. Shawn O’Connell Ashley Eatontown #9. Peter D’aiuto Ashley Toms River #10. Angel A. White Regency Waldorf #11. Elizabeth Dawit Ashley Alexandria III #12. Jeffrey A. Goodman Ashley Freehold #13. Christopher Stallings Ashley York #14. Anthony Santoloci Ashley Ledgewood #15. Rachel Byrne Ashley Ledgewood #16. Enrique Angui Ashley Linden #17. Anthony Betances Ashley Somerville #18. Deka H. Hassan Ashley Fairfax II #19. Donnie Washington Regency Waldorf #20. Joseph Scafa Ashley Ledgewood #21. Maher S. Alkhalil Ashley Falls Church #22. Donna Eleady-Cole Regency Waldorf #23. Alexander K. Gyan Marlo Laurel #24. Sarah Smith Ashley Ledgewood #25. Jorge Moreno Ashley Toms River #26. Chika S. Abugu Marlo Laurel #27. Jose S. Hernandez Regency Langley Park #28. Geoffrey D. Sprague Ashley/Regency Pasadena #29. Maryann Ciccone Ashley Eatontown #30. Qudus Akinbajo Marlo Forestville #31. Abdul Shakoor Ashley/Regency Churchville #32. Gregory Mitchell Ashley/Regency Warminster #33. Wassim J. Zayed Ashley Falls Church #34. Terri Jones Ashley/Regency Churchville #35. Hanadi Afana Ashley Staten Island #36. Denair R. Mitchell Ashley Hunt Valley #37. Karen Buckwalter Ashley Lancaster #38. Robert J. Williams Regency Capitol Heights II #39. Mohamed Elshentenawy Ashley Freehold #40. Paul Scornavacchi Ashley Lancaster #41. Alioune A. Aidara Regency Waldorf 2023 Million Dollar Club #1. Shankar N. Poudel: Over $2.1 Million In Sales Ashley/Regency Pasadena Let’s give a big shout out and round of applause to our 2023 Million Dollar Written Sales RSA’s! It’s hard to beat a person who never gives up.” –Babe Ruth Guest Experience Disciplines 1 Welcoming Environment • Areas of prides are complete • Be in dress code • Have a winning greet 2 Introduce All Our Offers • Current sales and promotions– 10-second commercial • Financing– create buying power • Healthy sleep/bedding– offer a Rest Test • Protection plans • 3 Influence and Maximize • Attempt to add on to every sale • Introduce a manager to every guest 4 Attempt to Close Every Sale 5 Win With Follow-Up • Collect leads from unclosed guests • Build appointments and prospect for VIP events • Ask for an online review
60% of customers say no YES! 4 times before they say Don’t give up… follow up! 1 2023 Top Ten Highest Avg Ticket #1. Marlo Laurel #2. Marlo Alexandria #3. Marlo Rockville #4. Ashley Freehold #5. Ashley York #6. Ashley Toms River #7. Ashley Ledgewood #8. Regency Fredericksburg #9. Ashley Hagerstown #10. Ashley Lancaster 6 REGENCY WIRE: Winter 2024 Creating a Positive Customer Experience 1 Product Knowledge Be an expert on the furniture you’re selling. Understanding materials, styles, and features allows you to provide accurate information and make relevant recommendations, instilling confidence in the customer’s purchase decisions. 2 Active Listening Listen attentively to customers’ needs and preferences. By understanding their requirements, you can tailor your recommendations, ensuring a personalized shopping experience. Acknowledge their concerns and address any questions they may have. 3 Approachable Attitude Create a friendly and approachable demeanor. A warm greeting and a genuine smile go a long way in making customers feel welcome. Approach each interaction with enthusiasm and a willingness to assist. 4 Assistance without Pressure Offer assistance without being overly pushy. Provide information, answer questions, and offer guidance, but respect the customer’s pace. A comfortable shopping experience devoid of pressure contributes to a positive overall impression. As a sales organization in the furniture industry, our role is pivotal in shaping the customer experience. Here are nine essential strategies to ensure a positive interaction and drive customer satisfaction: Parham Azadi Marlo VP of Sales Marlo Furniture Becomes Official Furniture Partner of MLS DC United In 2024, Marlo Furniture joins forces with Major League Soccer’s DC United in an exciting partnership set to bring massive benefits to our company. This promises to be a game-changer for the Marlo brand. DC United was one of the ten original charter clubs when Major League Soccer (MLS) was established in 1996. In their debut season, DC United achieved the remarkable feat of winning both the MLS Cup and the U.S. Open Cup, setting a high standard for success. DC United is a well-established and highly regarded Major League Soccer team with a passionate fan base. This partnership will provide Marlo Furniture with unprecedented exposure in the sports world, reaching a wide and diverse audience: there are 1.3M DC United Fans, and 715k actively follow, watch, and listen to DC United in the DC Metro Area. As the official furniture partner of DC United, Marlo will enjoy enhanced brand visibility in the stadium, and across various media platforms. This will reinforce our position as a leading furniture retailer!
Kajal was so wonderful to us when we were shopping for a dining room set, it was a no brainer to come back and see her again when we were in the market for some bedroom furniture. She’s attentive and follows through to make sure we are satisfied. Thanks, Kajal!” –Adam M. MARLO ROCKVILLE REGENCY WIRE: Winter 2024 7 New Showrooms and Exciting Acquisitions Throughout 2023, our company experienced an exhilarating phase of growth, characterized by the strategic opening and acquisition of showrooms as we expanded our footprint in the New England, Philadelphia and Central NJ Regions. 5 Visual Aids & Demonstrations Utilize visual aids and demonstrations to showcase product features. Allow customers to interact with the furniture, demonstrating its functionality. This hands-on approach enhances the shopping experience and helps customers make informed decisions. 6 Problem Resolution Skills Develop effective problem resolution skills. If a customer encounters an issue or has a concern, address it promptly and professionally. A proactive and solution-oriented approach can turn a potential negative experience into a positive one. 7 Time Management Respect customers’ time by efficiently guiding them through the shopping process. Be mindful of wait times and ensure that customers receive timely assistance. Efficient time management contributes to a seamless and positive shopping experience. 8 Follow-Up After a purchase, follow up with customers to express gratitude and ensure satisfaction. This post-purchase engagement reinforces a positive relationship and opens the door for future interactions. 9 Continuous Learning Stay updated on industry trends, new product arrivals, and customer feedback. Continuous learning equips you with the knowledge needed to provide top-notch service and enhances your credibility as a sales representative. By embodying these strategies, a sales representative becomes a key player in creating a positive customer experience in a furniture store. The combination of product expertise, interpersonal skills, and a customer-centric approach contributes to satisfied customers who are likely to return and recommend the store to others. Bensalem, PA Ashley/Regency • 3/21/2022 Manchester, NH Ashley • 4/13/2022 Nashua, NH Ashley • 4/13/2022 Salem, NH Ashley • 4/13/2022 N.E. Philadelphia, PA Ashley/Regency • 5/23/2022 N. Dartmouth, MA Ashley • 5/26/2022 Ledgewood, NJ Ashley • 6/23/2022 Manahawkin, NJ Ashley • 6/23/2022 Philipsburg, NJ Ashley • 6/23/2022 Toms River, NJ Ashley • 6/23/2022 Brick, NJ Ashley • 4/10/2023 Downingtown, PA Ashley/Regency • 4/10/2023
Donnie gave me a great deal on a table set with 4 chairs and a bench. He provided me with excellent customer service and I can’t wait to shop again at Regency Furniture!” –Abigail G. REGENCY BRANDYWINE MERCHANDISING 8 REGENCY WIRE: Winter 2024 With the introduction of the Visual Playbook came tangible standards that were rolled out with clarity and excitement. Our department was able to share and communicate within our showrooms and with each other, creating a sense of purpose and partnership in order to provide a consistent shopping experience within the Ashley brand. These partnerships are how we actively drive success of the business as a whole; transparent communication, a high level of consistency across the board, and an unwavering partnership are the key. Communication is our biggest tool for success. We have created a multitude of channels of communication within our departments, stores, and regions, to foster a level of transparency for our teams. We have created Power Walks and Checklists for the sole purpose that everyone will have an understanding and know the game plan. Michael Geraci, Ashley Regional Visual Merchandising Manager 2023 brought a whole new theme into the Visual Merchandising Department, and that theme was CONSISTENCY. Visually, we create consistency with the practice of our visual standards. The Visual Playbook offers each team member a transparent guide to the visual standards. Creating an omni experience for our customer. The Visual Merchandising department is committed to the demands of our customers, the needs of our teams, the execution of our standards, and the development in our partnerships. As we look ahead to 2024, we will continue to strive for consistency while bringing the 7.0 floor plan to our Ashley stores. Our merchandisers have already begun the foundation work. You may have noticed some newly painted white walls which allow the furniture to take center stage. You may have noticed some color wheeling within vignettes that allow for a larger assortment of groups to be shown. Stay tuned for more exciting changes which will continue to provide our customers with an exceptional shopping experience!!
31%of U.S. consumers considered financing a purchase in December 2 REGENCY WIRE: Winter 2024 9 William Hall, VP of Special Projects & Business Support The Pillars of Consumer Financing Traditional financing and lease-to-own options have become a cornerstone of modern retail. Our partnerships with Synchrony Bank for prime lending and Great American for near-prime lending are testaments to our commitment to providing top-tier financial solutions. Additionally, our collaboration with Concora in select markets and lease-to-own programs with Snap and Progressive, alongside tertiary lending through American First in New Jersey, reflect our ongoing commitment to a offering a wide spectrum of financing options. Customer-Centric Solutions At the heart of our strategy is the goal to make our furniture accessible to everyone. “9 out 10 people get approved” means more of our customers are given the opportunity to leave our stores with a smile. With our waterfall, our financing options are tailored to meet a variety of credit profiles. As we grow our finance execution, I am positive this approach will significantly boost customer satisfaction and loyalty. Understanding and Promoting Consumer Financing Benefits The Role of Consumer Financing in Our Sales Strategy Revolutionizing Financing with Technology Our innovative pre-qualification waterfall system in our kiosks has proven to be a game-changer. It ensures customers experience a seamless application process and are matched with the best financing option. This system not only enhances customer experience but also helps streamlines our sales process. A Win-Win for Business and Customers This comprehensive approach to financing has yielded substantial benefits for our business. By catering to a broader demographic, including budget-conscious customers, we’ve witnessed a notable increase in finance KPIs due to the teams’ engagement with our changes this year. Furthermore, the simplicity and effectiveness of our financing process have been instrumental in building long-term customer relationships. Empowering Through Knowledge An integral part of our strategy involves educating both our staff and customers about the financing options available. While we still have a way to go, our staff is better equipped today of our financing solutions. This has helped ensure they can offer the best guidance to customers. Simultaneously, we have stepped our game up with new marketing strategies with our lending partners to reach even more of our customers. Looking Ahead As we look to the future, our focus is on staying ahead of the curve in consumer financing trends, including the adoption of new systems with an even better customer experience and AI-driven solutions. Our goal remains to adapt continuously to changing market dynamics and consumer preferences. In conclusion, consumer financing is more than not just a payment option; it’s THE strategic tool that enhances customer engagement and drives business success. As we continue to navigate our evolving retail environment, our commitment to innovative and customercentric financing solutions will never stop to provide a world class finance experience for our customers. In an era where consumer expectations are quickly changing, the furniture retail industry is witnessing a transformative shift in how purchases are facilitated. At the forefront of this change is the strategic use of consumer financing - a tool that not only empowers customers but also drives business growth. Like it or not, consumer financing is reshaping our sales strategy. 2023 Top Ten Apps to Traffic #1. Ashley Easton #2. Marlo Forestville #3. Marlo Laurel #4. Ashley Linden #5. Ashley Rosedale #6. Ashley Toms River #7. Regency Capitol Heights #8. Regency Fredericksburg #9. Regency Langley Park #10. Ashley Ledgewood
10 REGENCY WIRE: Winter 2024 Ding Dong, Appointment TV is Dead A Year in Review: New England Tara Kelly, Director of Marketing & Advertising Michael Garcia, Ashley New England Senior Director of Operations In a previous newsletter, I shared how Napster rocked the world of music consumption, paving the way for apps like Spotify and Pandora. Fast forward to today, and the streaming giants, Netflix to name one, have practically abducted the television industry, shaking up how we watch our beloved TV shows. Remember “Appointment TV”? Back when there were only a handful of TV networks? Yes, people would gather ‘round their tubes to catch one of the precious few shows that existed, week after week. When a show’s finale hit the airwaves, it was THE event of the year! I mean, MASH’s series finale in 1983? A whopping 77% share with 50.15 MILLION households! And what about “Who Shot J.R.” Dallas reveal in 1980 - 41.5 MILLION households glued to their screens, pulling off a 76% share. To put it in perspective, the 2023 Super Bowl, the ultimate TV extravaganza, managed a 77% share. TV had its first big boom back in the late 1940s and early ‘50s when people started snatching up their very own TV sets faster than a kid grabbing candy on Halloween. And the way we devoured TV didn’t change much for almost half a century. It took until 2005, when YouTube made its grand entrance, for folks to realize the internet wasn’t just for cat videos; it was also for binge-watching your favorite shows. Streaming, the ultimate TV game-changer, started flexing its muscles in 2006, and voilà, TV would never be the same again! It sure has been an interesting year in New England. During the back half of 2023 we embarked on an adventure to level-set the market and begin to gain our footing in Regency’s newest market. We began by evaluating our leadership infrastructure and store environment. We made several changes and executed a springcleaning initiative to brighten up our retail stores and improve the guest experience. Brooke Adams and the merchandising team worked hand in hand with us to improve our store layouts and product mix, being sure we were putting our best foot forward with our guests. Can you believe that 25 years ago, Netflix was sending DVDs to your door and throwing in bags of popcorn for the full experience? And all of this through... wait for it... the mail! USPS was like Netflix’s secret accomplice. It’s so laughable now! Netflix went from DVDs to global streaming domination, leaving old-timers like Blockbuster choking on their popcorn. In 2000, Netflix even offered itself up to Blockbuster for a mere $50 million, and, well….Blockbuster turned up their nose! They must be kicking themselves in the VHS tapes for that one! Come February 2007, Netflix hit a major milestone by delivering its billionth DVD, and that’s when they decided to take the plunge into video on demand via the internet. Netflix now boasts a jaw-dropping 247.2 million paid subscribers worldwide as of the third quarter of 2023. Not too shabby! No more need for hushing on Sunday nights as we awaited the arrival of shows like The Sopranos, Breaking Bad, Mad Men, Game of Thrones, or Sex And The City on our screens. Thanks to Netflix, we’ve learned that mega-hits like Stranger Things can now be feasted upon in bite-sized binges, letting you gobble up an entire season within just a few days. Television catered to your whims, at your fingertips whenever the urge hits! After that, we began to build a foundation for long-term success built on culture, people, and teamwork. We shifted our people development approach and installed an updated pay plan for our sales team. We worked together with Rachael Ingram and a new training program was birthed. Each associate in the region completed an eightweek training platform driven by Ashley Discovery. Our main focuses were The Ashley Story, product knowledge, and a guest centric sales process. This elevated our ability to serve the communities that we do business in. Since then, we have launched several changes including a new pricing strategy along with a new tagging tool, a revitalized approach to marketing, improved delivery services, a stocking program, and a personalized approach to guest care inside our stores. The future is bright in New England! With continued A+ support from our executive team, we are working hard to deliver a world-class guest experience and operate our stores with passion, excitement, energy, and FUN! We’re incredibly excited about 2024 – much more to come!
Ashley VP Mike Ritter DSM Mike Abiknerv CNJ RSM Hady Halim Eatontown Freehold North Brunswick Green Brook Linden Staten Island Bensalem Hyb. Cottman Avenue Hyb. Maple Shade Burlington Toms River NNJ RSM John Barbato Manahawkin Brick Ledgewood Philipsburg Wind Gap Whitehall II DEL/EASTON DSM John Hussnatter Easton Dover Middletown Wilmington II Bear BAL/CPA RSM Horace Worthington Harrisburg Lancaster Mechanicsburg II Pottstown Downingtown Quakertown Montgomeryville Warminster Hyb. CPA/WMD RSM JD Day York Chambersburg Frederick Hagerstown II Gaithersburg BAL RSM TJ Mose DC RSA Malcolm Feleke Catonsville Glen Burnie Columbia Rosedale Hunt Valley Falls Church Fairfax II Waldorf II Capitol Heights Alexandria III DSM Chet Gloss DSM Daveeda Cordero REGENCY WIRE: Winter 2024 11 As our organization continues to grow in 2024, we recognized a need to adapt our current structure. We are implementing a restructure of our Ashley Regions as well as some changes in our Regional Leadership structure that will lead to more efficiency and position the Ashley Brand for success. We are very excited about these changes and the opportunities they will bring! Please feel free to reach out should you have any questions as we understand changes can also present challenges at times. We are all committed to supporting you and your teams and making it a smooth transition! Structure Changes • Green Brook, Staten Island, and Linden have been moved to the CNJ region overseen by Hady Halim, as well as Cottman Avenue and Bensalem. • Toms River, Manahawkin and Brick have now become part of the NNJ Region led by John Barbato. • Pottstown, Quakertown, Downingtown, Montgomeryville and Warminster have become part of Horace Worthington’s CPA Region in addition to Harrisburg, Lancaster and Mechanicsburg. • TJ Mose will now oversee Catonsville, Glen Burnie, Columbia, Rosedale and Hunt Valley. Changes to Our Ashley Structure Rachael Ingram, Director of Training & Communication Promotions • Chet Gloss of Toms River will be taking on the new role of DSM in NNJ and will now oversee the Toms River and Manahawkin locations as well as the upcoming Brick location. • Daveeda Cordero of Mechanicsburg has been promoted to District Sales Manager in BAL/CPA and will be overseeing the Mechanicsburg, Lancaster and Downingtown locations. • Mike Abikzer from Freehold has been promoted to the role of DSM in CNJ and will now oversee his location as well as Eatontown and North Brunswick. • John Day (JD) of Hagerstown has been promoted to Regional Sales Manager of the CPA/WMD Region that now consists of York, Chambersburg, Frederick, Hagerstown and Gaithersburg. • Malcom Feleke of Alexandria has been promoted to Regional Sales Manager of the DC Region and will oversee Falls Church, Fairfax, Waldorf, Capitol Heights and Alexandria. • John Hussnatter of Middletown has been promoted to DSM of our Delaware market where he will oversee Easton, Middletown, Dover, Wilmington and Bear.
2023 Top Ten Highest Sales Revenue #1. Regency Waldorf #2. Marlo Rockville #3. Ashley Toms River #4. Ashley Columbia #5. Marlo Laurel #6. Ashley Ledgewood #7. Marlo Forestville #8. Ashley Falls Church #9. Marlo Alexandria #10. Ashley Freehold 12 REGENCY WIRE: Winter 2024 In the ever-evolving world of furniture sales, the Regency Furniture team stands as a beacon of empathetic excellence, seamlessly blending advanced objection-handling techniques with a genuine commitment to crafting meaningful customer experiences. Anticipating objections is second nature to the Regency Furniture team. Armed with an encyclopedic knowledge of their products, from the intricacies of design to the nuances of delivery, these professionals proactively address common concerns, providing a reassuring touch to the furniture-buying journey. It's not just about selling furniture; it's about imparting a sense of confidence and peace of mind. Listening is an art mastered by the Regency Furniture team. With an empathetic ear, they not only hear objections but truly listen, tailoring their responses to offer solutions that resonate with each customer. Through reflective listening and thoughtful questioning, they build connections that go beyond the transaction, creating an atmosphere where customers feel understood and valued. The storytelling prowess of the Regency Furniture team transforms objections into shared triumphs. Narratives of customers who initially hesitated but found joy and satisfaction in their furniture choices abound. It's more than just selling; it's a collaborative journey where objections become stepping stones to a shared sense of accomplishment, forging emotional connections that last long after the sale is complete. The "feel, felt, found" technique is a hallmark of the Regency Furniture approach. Acknowledging a customer's emotions, expressing that others have felt the same, and unveiling the positive resolutions discovered by those customers showcase a deep understanding and empathy. This technique not only resolves objections but fosters trust, turning the sales process into a cooperative experience. Furthermore, the Regency Furniture team doesn't just sell furniture; they empower customers. Armed with the latest industry trends, materials, and design concepts, these professionals become trusted advisors. Educating customers on the intricacies of the products available, they guide clients on a journey to finding the perfect piece that suits both their needs and aspirations. In the heart of the furniture sales landscape, the Regency Furniture team elevates objection handling to an art form. By seamlessly blending proactive preparation, attentive listening, heartfelt storytelling, and a wealth of industry expertise, they turn objections into opportunities, creating a compassionate and memorable journey for customers in the ever-evolving world of Regency Furniture sales. Meddy Baraei Regional Manager FEEL Show that you hear the customer's concern and empathize with them. This helps you build trust. FELT Let them know they're not alone by telling them about another customer who felt the same way. FOUND Share how you helped that person find a solution and get what they wanted. This 3-step approach builds connection, establishes trust, and shows that your product is a good option for your customer. Empathetic Excellence Navigating Objections with Regency Furniture's Heartfelt Approach Keisha and Lauren were awesome! Keisha helped me find exactly what I was looking for! Great customer service, definitely recommend!!!!” –Jesenia G. REGENCY CAPITOL HEIGHTS AFF 5800, Stonewash
2023 Top Ten Highest SPG #1. Ashley Easton #2. Marlo Forestville #3. Ashley Toms River #4. Marlo Laurel #5. Ashley Ledgewood #6. Marlo Alexandria #7. Regency Fredericksburg #8. Ashley Freehold #9. Ashley Philipsburg #10. Ashley Pottstown REGENCY WIRE: Winter 2024 13 New Year, New Trends! New trends come with every new year. This year will bring us stylish and functional solutions to transform all living spaces. Style Fashion strongly influences the furniture industry, and Ashley works to incorporate some of those trendy looks into their new furniture styles. You can look forward to more color options in 2024. Some of the new colors you will see are olive, teal, spice, and mustard. Modern designs will dominate lifestyles from American Classics to Urban. Solutions Our ultimate goal is to solve our guests' problems. We want their home furnishings and decor to complement their lifestyle. Ashley will now have more options for your guests that include: • Multiple Stationary groups with the new 9" cushions • Multiple Stationary groups that feature removable, machine-washable covers in a Nuvella performance fabric • Motion group with Bluetooth audio features • Multiple TV stands that fit 75" to 85" TVs • Multiple Dining groups that can seat up to 10 guests Brooke Adams Ashley Merchandise Manager You might be asking yourself, "How can you keep up with everything there is to offer?". The answer is simple – utilize your tools! 1 [email protected] We are here to help assist with all things Ashley-related. As new groups hit your showrooms, we will be sending out information to keep you informed. 2 www.jeffmoehling.com This is a comprehensive bedroom and dining room website designed by our Ashley Casegood Marketing Specialist, Jeff Moehling. 3 Wondersign This endless aisle tool can provide customers with all the options. Email and text capabilities allow you to send your guests information about the items they are interested in. We look forward to bringing you the best Ashley product into our showrooms for 2024 with more features, function, and style than ever before! Spice Mustard Olive Teal Paula was absolutely wonderful! My husband and I were very pleased with her customer service, she worked wtih us and made us feel so comfortable with our purchases! Thank you!!!” –Deloris W. ASHLEY COLUMBIA
14 REGENCY WIRE: Winter 2024 Trends in 2023 In 2023, furniture trends continue to evolve, blending functionality with aesthetics to meet the demands of modern living. Adaptability remains a focal point, with an increasing emphasis on adjustable and interchangeable components. Consumers gravitate towards pieces that can serve multiple purposes within the home or that can be reconfigured effortlessly. One prominent trend is the resurgence of motion. Furniture that features powered and non-powered reclining mechanisms is gaining popularity. No longer are the days of the reclining furniture confined to the man cave or basement. Enhanced features and modernized style lines led customers to rethink this category, and reclining sofas and sectionals made their way into the prime areas of the home, such as the living and family rooms. This trend contributes to a warmer and more inviting home with an equal focus on comfort and style. Modularity was another trending feature in 2023. Adaptable and versatile pieces that can be rearranged to suit various needs were highly sought after. This shows us that flexibility and multifunctionality are paramount for our customers. Sofas with interchangeable components, modular shelving units, and adaptable dining tables exemplify this trend, allowing homeowners to customize their spaces to fit constantly changing in-home dynamics. Bold colors and unique textures made a comeback in 2023. Furniture designers are experimenting with rich hues like deep blues, forest greens, and terracotta, injecting personality into living spaces. Additionally, textured fabrics such as bouclé and ultra-soft corduroy are incorporated into upholstery, adding a tactile dimension and coziness to furniture pieces. Lastly, technology integrated seamlessly with furniture design. Smart furniture, with features like built-in charging stations, LED lighting, and voice-activated controls, is becoming more prevalent. These innovations enhance convenience while maintaining a sleek and sophisticated appearance. In conclusion, 2023’s furniture trends showcase a harmonious balance between comfort, functionality, and aesthetics, reflecting the evolving preferences of a style-conscious, functionally concerned consumer base. The Merchandising Department has taken note, and we will use this trend data to guide our product selections for 2024! Stephanie and Matthew gave us excellent customer service! Thank you very much!!!” –Pamela W. MARLO FORESTVILLE KKH KM865, Montana Leslie Colvin Director of Visual Merchandising Regency & Marlo
REGENCY WIRE: Winter 2024 15 It has been quite a year in the bedding category for RMS. Our collective accomplishments include but aren’t limited to breaking bedding volume and performance records along with implementing new policies, procedures, and promotions to convert more sales. We also improved the bedding training process and training frequencies, added exciting new products, and launched our first Hope to Dream charity event to give needy children bedding in the markets that we serve. We had a very busy and productive 2023 in the bedding category! We must now take the bedding business to a whole new level in 2024. In 2024, we will be implementing new strategies, product, and marketing approaches to further separate RMS from bedding competitors. We will be looking to our store leadership teams and store associates to continue to build strong bedding cultures within their locations and create a can-do winning mindset. Gone are the days of shooting for minimal acceptable standards. Set your sights on >20% bedding in the new year. Find ways to win! Find ways to celebrate wins! We will work smarter than our competitors by providing compelling reasons to earn our guest’s business. We believe you have everything within YOU to get >20% bedding in 2024. Believe in yourselves, believe in your teams, believe in RMS, believe there is no better place to buy a mattress than RMS… and most of all SLING THOSE SPRINGS! Celebrate 2023 and Look Forward to 2024 Chris Schollenberger VP of Bedding In August, we gave the gift of better sleep to 50 kids in need at an exciting charity event at Regency Furniture Stadium in Brandywine, MD, making an immeasurable difference in these families’ lives for years to come. 2023 Top Ten Bedding % Sold #1. Marlo Fredericksburg #2. Ashley Chambersburg #3. Ashley Fairfax #4. Regency Frederick #5. Ashley Ledgewood #6. Regency Fredericksburg #7. Ashley Alexandria #8. Ashley Langley Park #9. Ashley North Brunswick #10. Regency Hagerstown
16 REGENCY WIRE: Winter 2024 Our Top 5 Best-Sellers From the Past 6 Months 1 DA International Inc’s New Roma Collection offers the elegant Colonial Style look with a hand-carved solid wood frame, finished using high quality paint by Jasper Lily, and fully padded, including luxurious throw pillows to complement the tufted seat and back cushions. This collection includes the sofa, loveseat and chair with cocktail table and end tables. The New Roma is #1 in our stationary living room category! DA International Inc. has several collections to choose from for a more formal living room. Loai Hamed Director of Merchandising 2 Leather Italia’s Rio Collection is #1 in our Top 25 motion living room category with its combination of luxury and all-time comfort. Rio features power motion, and between the feel of the top grain leather and the lumbar support it’s hard to resist adding this to any home. Leather Italia is the best choice when it comes to fulfilling that luxury/comfort combo with many high-quality options to choose from. Leather Italia also holds two more spots in the same category! 3 Crown Mark Furniture is great for furnishing bedrooms and living rooms. The #1 set in our Adult Bedroom category is the popular “Stanley” Collection which provides a beautiful Victorian look. We can't stop there with this vendor—Crown Mark Furniture also earned the #4 spot in our Formal Dining category with the “Klina” Collection, which offers elegance with its beautiful satin silver finish. Crown Mark Furniture also covers furniture needs in youth bedroom and casual dining. 4 Homelegance speaks for itself in the name. Their collections bring elegance and style to any room, including adult bedrooms, formal dining and even something for a more casual dining experience. The “Marston” collection is #1 in the Formal Dining category, and the “Daisy” collection follows in its tracks as #1 in our Casual Dining category. These two stellar collections are just an example of the signature refined feel that Homelegance furniture brings to any home. 5 Lifestyle is the last on our list of Top 5 Best-Sellers, but far from the least as they hold spots in all 6 categories on our Top 25. Whether you want additional sleeping space for guests or extreme relaxation, Lifestyle can meet the need with their sleeper sofa or power reclining sofa. They also offer stylish adult bedroom options and trendy youth bedroom collections. But wait, there’s more! Lifestyle also has formal and casual dining sets to choose from. Furnish the entire home with their amazing modern designs. DAI 3737, New Roma LIL EH7285, Rio CMF B1600, Stanley HOM 2615, Marston LIF U80143, Sundae
Power Drop-Down Table Power Drop-Down Table Super Comfortable Reclining REGENCY WIRE: Winter 2024 17 Upcoming collections you DON’T WANT TO MISS The new products are incredibly designed, affordable, and match everyone’s lifestyle and technology needs. To name a few of the awesome features the upcoming collections will have, we’ll start with the convenient power drop-down table on the HLL 1018, CMW 9990 and KKH KM6259. Next, the zero-gravity refrigerator console loveseat featured on the KKH KM6259, and theater style reclining on KKH KM6259 and KM859. These features are just a taste of how great the new product is going to be. Here's a sneak peek of what's coming... Prepare to sell sell sell!!!! What's Coming and How to Sell It Regency is the King of Furniture in DMV area. We always have valuable products, and we combine furniture and labor to maintain the best quality for our customers. Together is better! This is the most important to be on the top of the mountain. The best way to sell anything is to KNOW YOUR PRODUCT. Take time to educate yourself about the collection and your customer. use the FIVE Wʼ s CMW 9020, Winston CMW 9990, Charleston HLL 1018, Comet WHO makes the furniture? When you're educated on your product, a customer will feel more confident buying from you. Take a minute to read some information on the vendor. Even just knowing a little information will help you sound like you know what you are selling. WHAT are you selling? Whether the customer wants comfort or just wants their home to look good and put together, whether they're looking for affordable pieces or splurging on something more expensive, knowing your product will help you to help your customer find what they are looking for and save both of you time and frustration. WHERE does the furniture come from? Knowing where your product is coming from may seem irrelevant, however it will help with knowing ETAs and informing the customer so that their needs are met properly. WHEN will the product be available? Some customers are furnishing a new home and aren't moving in for a while yet, and some customers want new furniture right away for a special occasion coming up. WHY does the customer need it? Customers' needs are individual, and whether they're upgrading a recliner that wore out, purchasing a larger dining set to make room for a growing family, or splurging on a luxury item, knowing your customer's story will help you recommend the right furniture for their home.
high-quality training & support significantly improve their engagement of sales reps say Store was beautiful! Amanda W. was very helpful and answered all our questions, showed us all the dining room tables until we finally picked out the perfect one! Thank you so much!” –Jackie G. ASHLEY MECHANICSBURG 18 REGENCY WIRE: Winter 2024 In today’s ever-changing environment of retail, staying ahead of the curve requires more than just keeping up with the trends. It’s training and development that is a pivotal force in driving success. Businesses that embrace a training culture are not only adapting to change, they are thriving in an era where knowledge and skills are what gives you an edge over the competition. As we step into 2024, our mission as the RMS Training team will be to ensure that “R” Way is the way we will empower every employee with the skills, knowledge, and mindset necessary to navigate our current retail climate, exceed Guest expectations, and experience ongoing success. Our Commitments for the New Year 1 Continuous Learning and Adaptability to Technology Development will begin with the Onboarding process and will then go beyond it. We intend to continue building resources in our company Share Drive, develop additional training sessions and workshops, as well as launch a centralized “R” Way University for Online Learning. 2 Customer-Centric Excellence Understanding and exceeding customer expectations will be at the core of our training programs. We will aim to develop interactions that are not just transactions, but meaningful and personalized experiences that build long lasting relationships. 3 Enhanced Collaboration We will foster a culture of collaboration and knowledge-sharing cross departmentally to help us work together as one team. Your Feedback Matters! We believe in continuous improvement, and your feedback is important to us. Please feel free to share your thoughts, suggestions, or any specific training needs you may have with us. Together, “R” Way training initiatives will be tailored to best serve you and the needs of our business. We are dedicated to promoting growth and excellence and we thank you for your commitment as well. We look forward to embarking on this journey of continuous learning and success together in 2024! “R" Path to Success: How We Will Win in 2024 With Training Rachael Ingram, Director of Training & Communication 3
Pete Giordano, Corporate Trainer Individual performance improves by 20on average with high quality training REGENCY WIRE: Winter 2024 19 Over the course of this past year, we have had the opportunity to conduct numerous sales classes here at RMS and have watched many of our graduates go on to become top producers or be promoted to managers. Since the “R” Way Sales Training program is a new addition for many of you, we wanted to give you a glimpse into what sales classes look like and what you can expect from them as we move forward. 1 Interactive Learning Environment We use a hands-on approach to help ensure understanding and retention of information including actively engaging with the material through activities and exercises, open discussions, live webinars, Q & A sessions and providing real-time feedback to participants. 2 Consistent Message Delivery We strive to set the proper expectations with every trainee of what it means to be an RMS employee and how to be successful by delivering a consistent Guest experience. 3 Opportunity to Practice Skills We provide a platform for employees to practice and refine their skills before they get to their stores through scrimmaging and talking through RMS-specific scenarios, challenges and simulated customer interactions. 4 Structured Learning Schedule We have a structured learning schedule that allows new hires to receive a comprehensive overview of their role in the company. 5 Fun! Most importantly we aim to create a warm, welcoming and fun learning environment where time spent out of our stores and in our classroom is worth while and will help to develop and grow sales skills for a long and successful career at RMS. A Day in the RMS Classroom 4
20 REGENCY WIRE: Winter 2024 New Faces at RMS Rachael Ingram, Director of Training & Communication Rachael began her career in furniture and mattress retail 15 years ago and had been working with the Ashley brand for the past 9 years. After joining the RMS Family last year, Rachael was excited to take on the role of developing and expanding our sales training. She is passionate about helping others succeed and grow, and is focused on how to deliver the best experience to every Guest and striving to make a positive impact every day. Rachael loves sports, being outdoors, and her family which includes her 2 year old son Avery. Pete Giordano, Corporate Trainer Pete comes to the RMS team with 20+ years of retail sales and training experience. He enjoys sharing his knowledge of the industry and has conducted many sales classes throughout his career. His previous time selling healthy sleep on the sales floor earned him the nickname “TempurPete” that he carries with him today. He is passionate about helping new sales associates exceed their own expectations and reach their full potential. He is looking forward to the new year and all of the exciting things to come from the training department! Outside of work, Pete enjoys spending time with his 4 children. Sang Han, Chief Financial Officer In May 2023, Sang Han joined RMS as the Chief Financial Officer. Mr. Han’s enhances financial reporting, creates and executes strategic plans, and manages banking and third-party relationships. Most recently, he was the COO for DPL Financial Partners overseeing strategic planning, management, operations, and financial oversight including the capital raise of $50+ million from two prominent investors. He has also served as the CFO of Interstate Group Holdings, Inc., a $100 million global distribution and real estate organization. Quiana Hubbard, Executive Assistant Quiana Hubbard, “Q”, is an executive assistant at RMS. Her workdays are spent supporting Troy Davis and the executive team, assisting with the sales and development of our stores through administrative and projectbased initiatives. Her diverse background includes previous management retail experience as a market intelligence manager with big box companies and working within the private sector as a marketing manager and senior office manager. Her weekends are mainly spent making sure she’s the loudest cheerleader in the stands for her 2 sons’ football games, or having fun cooking in the kitchen! Michael Garcia, Senior Director of Operations Michael Garcia has spent his entire working life in the retail industry. He joined the Ashley family in 2009 when he worked for a small licensee in Northern New Jersey. The furniture business has been great to him, and he is truly passionate about it. He has been in his role as Senior Director of Retail Operations for just about 8 months now. He has really enjoyed settling into the RMS family and is looking forward to a long successful career here. Chris Crossett, Financial Planning & Analysis Manager Chris joined team Regency in June. Chris will work with the executive and management team to develop a financial roadmap for the company’s growth and success. He will also identify key performance metrics and areas for the company to improve sales and profitability. He will work closely with the IT, Operations, and Accounting teams to enhance reporting and analyses. Chris comes with numerous years of financial planning and analysis experience in defense contracting, healthcare, and logistics industries. When not working, Chris enjoys spending time with his wife Jamie and his two sons. HR Spotlight: Jeff Magner, VP of Marketing What inspired you to join Regency? I love the passion and hunger for success that Abdul has to help make the team members individually win – while achieving corporate goals and growth. Also, the sheer “growth” mindset that we are going to add more sales, stores, and markets profitably and provide even more opportunity for our associates. Finally, the community efforts of RMS – being great corporate citizens, helping those less fortunate, inspiring other companies to give back, and making this about much more than just selling furniture. What are the most important lessons you’ve learned during your career? • People are everything! • Take care of the Team Members – the rest will be covered • Succeed by helping others succeed • Try something else – then try something else, then try something else • Listen to the team – they all have solid ideas to share • Without traffic – there are no sales! Marketing’s traffic strikes the match to start the fire of success for the entire organization What do you enjoy outside of work? Traveling, family time, photography, listening to all types of music/going to concerts and festivals, emceeing and helping non-profits/ foundations/organizations What’s something surprising that not many people know about you? • I share a birthday with Mickey Mouse (November 18th)! • I enjoy rap shows and buying/selling streetwear What’s a cause you’re passionate about? Helping kids in shelters have a better life and find forever homes!
our showrooms & partners collected 1,690 TOYS for children in need REGENCY WIRE: Winter 2024 21 Giving Back in 2023 This holiday season, we got into the spirit of generosity with some amazing events and fundraisers to spread holiday warmth and cheer. Here’s a look at the impact these events had! Heartwarming Toy Drive Benefiting Salvation Army This past December, Regency Furniture, in collaboration with Marlo Furniture and Ashley showrooms throughout the DMV region, ran a toy drive that benefited the Salvation Army Angel Tree Program, a cherished initiative that brings the magic of the holiday season to children in need. Regency Management Services recognizes the importance of spreading joy and ensuring that every child experiences the warmth of the holidays. This year, we collected hundreds of toys that brought smiles to the faces of countless children in our region. Regency Management Services, alongside its esteemed portfolio of brands, completed this heartfelt endeavor by hosting its annual Holiday Luncheon in partnership with The Salvation Army and dedicated vendors at the Regency Furniture Stadium in Waldorf, MD. Abdul Ayyad stated, “As a company deeply rooted in the communities we serve, we understand the profound impact that small acts of kindness can have, especially during the holiday season. Our collaboration with the Salvation Army reflects our commitment to giving back and making a meaningful difference in the lives of children. We believe that by coming together with our customers and partners, we can brighten the holidays for those in need.” Making this occasion truly exceptional was the participation of beloved holiday characters and an esteemed special guest. Santa Claus himself graced us with his presence, radiating goodwill and spreading joy throughout the event; the Grinch, renowned for his heartwarming transformation, joined us to emphasize the profound power of kindness and compassion during this season of giving; and we were honored to welcome Randy Quaid, celebrated for his portrayal of “Cousin Eddie” in the iconic movie Christmas Vacation, as our special guest. Mr. Quaid’s presence served as a testament to his heartfelt support for this extraordinary cause. We gathered to celebrate the spirit of giving and love. An enormous “Thank you!” to everyone who helped not only showcase our efforts but also inspire our community to embrace the true spirit of generosity during this holiday season. The Salvation Army began distributing the toys IMMEDIATELY! This made an enormous difference in the kids’ lives this Christmas.
22nd Annual BIG 98.1 Loves Our Kids Radiothon Raised $245,064 for Children’s Hospital of Philadelphia! Regency Furniture generously donated $10,000 to CHOP. On Thursday and Friday, December 7th & 8th, BIG 98.1 in Philadelphia aired stories about the families and children at Childrens Hospital of Philadelphia (CHOP). The Delaware Valley listening audience learned about the miracles that happen every day in our own backyard. The Delaware Valley has donated millions to help CHOP. The money raised goes directly to the Child Life Services department, which provides services you might not think of off the top of your head. • When a child can’t leave their room during an extended hospital stay, it’s a Child Life Specialist who plays games with them. • When a child is nervous about an upcoming procedure, it’s a Child Life Specialist who comforts them by showing them on a doll exactly what’s going to happen. • When a child spends their birthday at CHOP, it’s a Child Life Specialist who organizes the party. In short, Child Life Specialists are the people who comfort kids at CHOP when they need comforting the most. They are the patients’ best friends and the parents’ greatest gift. Their department would not be possible without the money raised during Radiothon. The marketing team was onsite to work the phone banks and our VP of Sales for Regency, Todd Jones, co-hosted live on the airways for an hour to encourage donations! 22 REGENCY WIRE: Winter 2024 Zat You, Santa Clause? This holiday season, we pulled out all the stops to create unforgettable experiences at our showrooms in Regency Warminster, PA, Regency Capitol Heights MD, and Ashley Somerville, MA. Santa himself graced our showrooms, and the atmosphere was filled with holiday magic and excitement. We went above and beyond to give our guests a red-carpet treatment fit for Santa Claus. But the excitement didn’t stop there! Attendees had the incredible chance to snag tickets to the SOLD OUT Jingle Ball event by iHeart, an opportunity that had everyone buzzing with anticipation. There’s more – in each showroom, one lucky winner had the chance to qualify for an exclusive meet and greet with their favorite artist, making dreams come true right in our showrooms. But that’s not all! Our Warminster event took it up a notch with a surprise appearance by none other than 76ers player B-Ball Paul Reed. Plus, we showed our commitment to making a difference by collecting sneakers for the renowned non-profit organization, Cradle To Crayons. This remarkable charity is dedicated to providing essential items for kids up to age 12, and we were proud to play a part in supporting their mission. This holiday season was truly a time of joy, celebration, and giving back, and we can’t wait to continue sharing these exciting moments. Stay tuned for more fantastic events and experiences in the year ahead!
1,757,021 pounds of food – that’s donations totaled 878 tons $ 948,732 in monetary donations +++ plus +++ over 1,690 REGENCY WIRE: Winter 2024 23 From November 13th to 17th, the iconic Philadelphia radio station 93.3 WMMR-FM, in partnership with Regency Furniture, proudly hosted the 26th Annual Preston & Steve’s Camp Out For Hunger at Xfinity Live, benefiting Philabundance. Morning hosts Preston and Steve set up camp in the Xfinity Live parking lot, located in the Wells Fargo Center Sports Complex in South Philadelphia, to encourage listeners and businesses across the tri-state area to join them and support this worthy cause. The event featured dozens of local and national celebrities, performers, and athletes who lent their support, creating a vibrant atmosphere. Thousands of listeners flocked to the event, contributing to the cause while enjoying the festivities. Preston and Steve initiated the Camp Out for Hunger in 1998 with a modest goal of collecting one ton of food. On the first day alone, staff shared that they received more than 30 tons of food. That’s 30 times what they were expecting for the entire week. The 2023 event reached remarkable heights, raising over 1.7 million pounds of food and garnering $948,732 in monetary donations. This event holds the distinction of being the largest single food drive in the country. It plays a vital role in stocking the warehouses, pantries, and community food banks that provide for over 90,000 people in need every week in the greater Philadelphia area. As part of the event, Regency Furniture took on the role of the exclusive furniture retailer for the Green Room, where all broadcasting and celebrity interviews occurred. There’s not a single event that even comes close to this level of collaboration. Regency Furniture was very proud to be a part of this effort! Preston & Steve’s Camp Out For Hunger 2023 Service to others is the rent you pay for your room here on earth.” –Mohammed Ali 878 tons
+over years! the 2024 124parade had: 10Kover 200K participants including bands, dancers, and more live viewers onsite and on TV a Philadelphia tradition for 10K 24 REGENCY WIRE: Winter 2024 The South Philly String Band has clinched the 2024 championship! The Mummers Parade is a beloved Philadelphia tradition, celebrated annually since 1901, marking 124 years of cultural festivity in 2024! It takes place on New Years Day in the heart of Philadelphia and the parade brought together over 10,000 costumed adults and children as they marched from Philadelphia’s City Hall to Washington Avenue. The Parade attracted over 100,000 people on site in addition to reaching over 100,000 TV viewers. The Mummers Parade is a vibrant expression of Philadelphia’s rich culture and is comprised of 40+ organized clubs, categorized into five divisions that each have their own performance specialty, and compete against each other for bragging rights…the Comics, Wench Brigades, Fancies, String Bands, and Fancy Brigades. This year, Regency Furniture sponsored the South Philly String Band during their “Christmas Bizarre” performance and leveraged the historical and widely celebrated event for extensive brand visibility. This is the first of what I hope will be many years to come of our participation with the Mummers! Mistletoe Rock We triumphed! This year, Ashley CNJ sponsored Mistletoe Rock, raising almost $75,000 supporting the JBJ Soul Kitchen, a non-profit Community Restaurant run by the Jon Bon Jovi Soul Foundation that has served both paying and in-need customers for over 10 years. There are no prices on their menu and if you are unable to pay the suggested donation, they still feed you a delicious meal in a warm, welcoming setting – no questions asked. They have served almost 185,000 meals, half of which were funded through donations and half earned through volunteering. Bon Jovi, a New Jersey native, has been serving local communities “to break the cycle of hunger, poverty and homelessness,” according to his foundation’s mission. Celebrity guests included Jon Bon Jovi himself, Rich “LaBamba” Rosenberg, Jeff Pilson of Foreigner, Andrew Farris of INXS, Gaten Matarazzo from “Stranger Things”, Food Network star Guy Fieri, “Live” EP Michael Gelman, “The Chew’s Carla Hall and radio legend Scott Shannon. Thanks to the high exposure of this effort, Ashley took center stage as the Title Sponsor and stood out in the minds of consumers as an organization that cares about families in our community. Let’s keep rocking for a brighter future!
2023 Top Ten Highest Close % #1. Ashley Easton #2. Marlo Forestville #3. Regency Waldorf #4. Regency Woodbridge #5. Ashley Toms River #6. Ashley Ledgewood #7. Ashley Philipsburg #8. Ashley Wind Gap #9. Regency Fredericksburg #10. Ashley Pottstown REGENCY WIRE: Winter 2024 25 Some of you may know that I am a big fan of acronyms. There are two in particular that I have used for many years, and I believe that if everyone in RMS uses these acronyms we will be successful in 2024. TLC: Trust, Like, Comfortable If our Guests trust us, like us, and feel comfortable with us, we can convert more Guests into Customers. If our managers, employees, and co-workers trust us, like us, and feel comfortable with us, we will be able to accomplish all of our goals together. Building Trust • Be honest. Honesty helps establish transparency and reliability. Admit when you’re wrong and work on finding solutions. Communicate effectively. Stay in regular communication and keep them informed of any information they should know. • Be consistent. Follow through on your commitments. Trust requires long-term thinking. • Have logic and empathy. People tend to trust you when they have faith in your judgment and competence. Getting Others to Like You • Be yourself. People like people who are genuine. Share stories about yourself and let your sense of humor show. • Listen & show interest. Ask questions and pay attention to their answers. Make eye contact to show that you’re paying attention. • Compliment them. Tell people what you like about them. This can come across as friendliness and bring you closer to them. • Ask for their advice. Asking someone for advice shows that you value their opinion. Giving and receiving constructive feedback can help strengthen mutual respect. Making Others Comfortable • Be approachable. Smile, give off a confident vibe, and be the most approachable person in the room. • Be non-judgmental. Allow them to be themselves, flaws & all, without criticism. Let them talk freely and preserve their dignity. • Be kind. Don’t pressure them. Everyone’s situation is different, so let them make their own decisions. PBA: People, Basics, Accountability If we can get the right people in the right seats, always do the basics and hold ourselves and our teammates accountable for what we are working on to accomplish our goals, we will be successful. Right People, Right Seats The right people have skills, passion, experience, and values to contribute to the company’s success. The right seats are well-defined jobs with good professional support, that align with personal and professional goals. In order to build winning teams, we need to define the right seats so that everybody understands the criteria, and we must get the right people for the job in order to be accountable and deliver essential results. Basics Doing the basics brilliantly every day builds habits that create a foundation for greatness. Once you have the basics, branch out and develop more advanced skills with confidence. Professionalism • Critical Thinking • Communication Time Management • Adaptability • Teamwork • Leadership If you can master the basics, you’ll simplify your life and be more successful at building your career, skillset, and relationships. Accountability In the workplace, accountability means that employees are responsible for their actions, behaviors, performance, and decisions– both good and bad. When everyone is accountable, it can lead to higher performance, increased commitment to work, and improved employee morale. The 5 C’s of team accountability are Common purpose, Clear expectations, Communication & alignment, Coaching & collaboration, and Consequences & results. As an individual, you can develop personal accountability by knowing your role, using your time wisely, not overcommitting, being honest, reflecting, and apologizing when you make a mistake. Within your team, the basic steps of accountability are transmitting accurate information about people’s actions (including your own), examining the information, and using it to improve performance, correct deficiencies, and reward superior service. How We’ll Succeed in 2024 Michael Ritter Vice President 2023 Top Ten Comp. Sales Increase #1. Ashley District Heights #2. Ashley Easton #3. Ashley Middletown #4. Ashley Hunt Valley #5. Ashley Maple Shade #6. Regency Churchville #7. Ashley Falls Church #8. Ashley Lancaster #9. Ashley Freehold #10. Ashley Wind Gap
16,996total devices seen at all Marlo stores during the month of November 245.5 visits were made on average to all Marlo locations within those 30 days 8,585 new devices were seen at a Marlo location for the first time 9,954 devices were seen at a competitor first before visiting a Marlo location 411 devices visited a competitor after visiting a Marlo location Excludes duplication 26 REGENCY WIRE: Winter 2024 Streamlining Distribution and Inventory Mohammed Hamed Director of Warehouse Operations Hello, my name is Mohammed “Moe” Hamed and I’m the Director of Warehouse operations, which includes Brandywine, Bluegrass, and Amherst. I’ve been with the company for over 20 years in various store and warehouse positions. I started from the ground up as a warehouse worker and through hard work and commitment, I now lead our Distribution Center teams. My goal is to be supportive and to be the best coach and mentor to the team. Our DC commitment is to continuously improve all processes and services that result in a high level of customer service at the lowest cost. Improving service to our stores and our customers is our obsession! Quicker Response Times, Faster Delivery Service, Rapid Delivery and Improve Communication are just a few examples. This year we established a dashboard for the distribution centers. This dashboard was designed to management performance and plan our work more efficiently. This includes managing our inventory at 99.9% accuracy; managing our delivery and receiving volumes; managing operator productivity; and managing delivery team performance just to name a few. The dashboard which provides daily at a glance, real time information, has improved productivity and reduced operating inefficiencies which we call “waste”. This important reporting tool has allowed me to be more hands on with team and address any major concerns directly in a timely matter. Tara Kelly, Director of Marketing & Advertising When it comes to persuasion, the ‘90s cult classic film, “The Wolf of Wall Street,” might not be the first source that comes to mind. However, buried within its debaucherous narrative lies a treasure trove of wisdom. Jordan Belfort, portrayed by Leonardo DiCaprio, the film’s protagonist, is a master of persuasion. He can sell anything to anyone. While we don’t aspire to replicate his ethics, we can learn from his charisma, and more specifically, understand that the ability to persuade is paramount. We mustn’t rely solely on paid advertising. “Inside sales” is paramount to our success…direct and personalized engagement with potential customers through calls and emails. Are you harnessing the full potential of your Open To Buy Lists? How much money is on the street that we could be capitalizing on? Are you capturing guests’ information and diligently pursuing those that may have left our showrooms without making a purchase? Are you proactively scheduling appointments for exclusive VIP events? These can make all the difference to your sales goals! Marketing is Not The Same as Selling What the Numbers Say In November, we ran some data for Marlo– here’s what we found: We cannot solely rely on Marketing, our pursuit in being the trusted and preferred choice for furniture must be relentless. Persistence is the key to success! Keep refining your strategies and stay committed to your objectives. Our goals for 2024 are to continue to improve efficiencies and drive out waste. This focus includes improving our customer’s delivery experience; providing faster delivery service to our customer; and quicker resolutions for unsuccessful deliveries. Distribution Leaders For those who don’t already know them, I would like to introduce my team: our distribution leaders that share in our obsession in providing the best of service to you and our customers. Feras Ayyad, General Manager for Brandywine Anas Hamed, General Manager for Bluegrass Abdul Ahmad, General Manager for Amherst The DC team is looking forward to working with all of you to deliver a great shopping and delivery experience to our customers. Wishing everyone a Happy New Year!
REGENCY WIRE: Winter 2024 27 Lessons from “Jerry Maguire”: SHOW THEM THE VALUE! I had an “aha” moment during a recent in-flight movie featuring “Jerry Maguire.” Jerry Maguire’s career takes a significant turn when he writes a mission statement advocating for a more client-centric approach in the sports agency business. His catchphrase, “Show me the money,” has become emblematic not just of financial rewards but also of the need to demonstrate value to clients. Jerry’s unforgettable line wasn’t just a cash-demand, it was a sales wake-up call! Jerry’s career took him on wild rides and unexpected turns, much like the rollercoaster– sound familiar? Jerry’s famous phrase, “Show me the money,” transcends the world of sports management. It’s a universal plea to prove the worth of what we’re offering. In sales, this plea echoes loudly– it’s about demonstrating the tangible benefits of our products and service. So where does that behavior start? By listening. Jerry’s relationship with his only remaining client, Rod Tidwell, played by Cuba Gooding Jr, becomes central to the plot. The film emphasizes the significance of building and nurturing relationships with clients. Jerry learns that it’s not just about securing deals but also about understanding and fulfilling the emotional needs of his clients. Jerry’s transformation began when he truly listened to his client. Active listening is a vital skill in sales. Tailoring your sales approach accordingly demonstrates that you value our guest’s perspective, which will ultimately enhance the relationship. Jerry Maguire may have tickled our funny bones with “Show me the money,” but it also left us with profound sales lessons that we can learn from. Let’s remain focused on creating value, nurturing customer relationships, and delivering sales excellence. Jerry’s enthusiasm for his work lit up the screen like a firework show. Intensity for anything we do is contagious and keeps customers returning for more. Let’s be the Jerry Maguire of RMS! Abdul Ayyad CEO of consumers tell at least 6people 72% if they’re happy with their experience + 5 Stay inspired, and let’s keep selling!
REGENCYWIRE WINTER 2024 NEWSLETTER Affordable Never Looked So Good 1 Data source: https://www.invespcro.com/blog/sale-follow-ups/ • 2 Data source: https://www.lendingtree.com/personal/buy-now-pay-later-loan-statistics/ • 3 Data source: https://spotio.com/blog/sales-statistics/ • 4 Data source: https://spotio.com/blog/sales-statistics/ • 5 https://www.slideshare.net/ekolsky/cx-for-executives#2