Soft-Tex Innovation Update from Chief Innovation Officer Scott Thayer
Today’s retail landscape is quite challenging. Low inflation rates, having now sustained for quite some time, are creating a business environment where it’s very difficult to elevate retail price points. In turn, retailers and manufacturers alike are struggling to generate revenue and margin growth.
Soft-Tex has transformed into an organization that is focused on innovation and providing performance driven, differentiated products to our customers within and outside of the Utility Bedding and Mattress channels. Consumers continue to tell us that they are willing to pay more for these product characteristics. Our Innovation-focused business model provides opportunities for our retail customers and business partners to drive revenue and margin.
While I oversee manufacturing and supply chain across our entire product portfolio, the clear focus is on optimizing both functions to commercialize innovative products quickly in an ever changing marketplace. I fully anticipate that our supply chain, both domestic and international, will look much different in 2 years than it does today. And it will look much different in 5 years than it does in 2 years.