Jim McIngvale, a humorous and engaging speaker, delivered an incredibly touching message to Texas A&M University students this past week. Sharing a combination of his service experiences, retail successes, business obstacles and more, Mattress Mack had every member of the audience on the edge of his or her seat, laughing one second and on the verge of tears the next.
"If you want to be successful, you have to be persistent."
Mr. McIngvale and his wife founded Gallery Furniture in 1981 with $5,000 and no contacts in the industry. Though they had every reason to fail, they had one big advantage - a DESIRE to succeed. Introducing the disruptive concept of same-day delivery, Gallery Furniture and Mattress Mack gradually became industry icons, both on the TV screen and the sales floor, with his most famous line being...
"Gallery Furniture will save you MONEY!"
Believing that "We all have a responsibility for the well being of our community," Mattress Mack is heavily involved in the development and prosperity of the world in which we live - engaging in numerous philanthropic efforts over the course of his career. Arguably, his largest and most well-known contribution to society was the work he did post-Hurricane Harvey in 2017. McIngvale deployed many Penske moving trucks for rescue, all thanks to his first (of many) Facebook live videos, and then proceeded to open up two of his stores for refuge and shelter, housing hundreds for a few days.
"Retail is about being relevant."
The retail industry is constantly changing and evolving, so it is an ongoing challenge to remain relevant and top of mind. Due to the increasing amount of competition from the online sector, traffic in brick and mortar stores is down 90%. In order to combat this unfortunate reality, McIngvale and his team are seeking to "combine high tech and high touch" to improve the customer experience and keep engagement levels high. Additionally, Gallery Furniture is making a conscious effort to improve the product assortment and increase the variety of merchandise offered. Eventually, 40% of the product offering will be targeted towards Millennial customers.
"What are you doing to get people excited? What are you doing to motivate customers to get up, get dressed, and drive to YOUR store?"
"It is more difficult to build relationships with customers online that it is in store, but it is still possible and it has to be done... If the customer has a problem, solve it." To McIngvale, this often means giving unsatisfied customers a personal phone call and addressing whatever issue it is that they're facing. He and his team seek to reach out to every customer post-purchase, personalizing his or her shopping experience by building an intentional relationship that goes far beyond the point of sale. This simple act of kindness is often the reason that customers come back time and time again for the perfect piece of furniture.
"At the end of the day, retail is all about delighting customers."
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