Business outlook 2020: Central Massachusetts leade
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Posted On: 01/19/2020 11:44:24 PM
Business outlook 2020: Central Massachusetts leaders look ahead to the new year
By Telegram & Gazette Staff
Posted Jan 5, 2020 at 6:00 AM
Updated Jan 5, 2020 at 10:46 AM
Steve Rotman, CEO of Vystar, which acquired Rotmans
1. I anticipate a continued healthy business climate in Central Massachusetts with the expanding transportation infrastructure being a key factor. Thanks to investments in rail and the Worcester airport, a lot of businesses are relocating here and that, in turn is attracting home buyers who appreciate the lower cost of living and doing business here and easy access to numerous large cities within a 50-mile radius including Boston, Providence, Hartford, Springfield, Lowell, Nashua, Fitchburg, Leominster and Gardner. We are seeing an evolution where older buildings are being acquired by visionary, well capitalized developers and investors who are planning and/or executing renovations to adapt them to the new digital economy. In some cases, buildings are being transformed for mixed commercial/residential use. The inclusion of residential units in commercial buildings helps keep the downtown areas vibrant and reduces traffic congestion as residents are living in close proximity to work, restaurants and other services they use. This helps these smaller businesses thrive as well.
2. While traditional retail overall is declining as can be seen in how shopping malls are struggling, we are seeing job growth in e-commerce, not just for the furniture sector, but across many sectors. I expect to see continued growth in this area. All types of businesses should be planning their e-commerce strategies if they want to survive. As for Rotmans Furniture, many customers still want to sit on or touch the furniture before they buy it, so we don’t see our retail footprint decreasing anytime soon. However, over the past several years, in line with the national trend, we have been expanding our e-commerce business to serve the growing number of consumers who want the convenience of shopping online and having quality merchandise delivered quickly to their doors. With Vystar, which, in addition to owning Rotmans produces Vytex low protein latex used in many types of products, and RxAir UV light air purifiers, almost all consumer sales are online or business-to-business and we expect that to continue. Due to increased demand and to better service our customers, we have expanded our shipping to 7 days/week and added next day and same day delivery throughout New England.
Link to entire article: https://www.telegram.com/news/20200105/busine...o-new-year
By Telegram & Gazette Staff
Posted Jan 5, 2020 at 6:00 AM
Updated Jan 5, 2020 at 10:46 AM
Steve Rotman, CEO of Vystar, which acquired Rotmans
1. I anticipate a continued healthy business climate in Central Massachusetts with the expanding transportation infrastructure being a key factor. Thanks to investments in rail and the Worcester airport, a lot of businesses are relocating here and that, in turn is attracting home buyers who appreciate the lower cost of living and doing business here and easy access to numerous large cities within a 50-mile radius including Boston, Providence, Hartford, Springfield, Lowell, Nashua, Fitchburg, Leominster and Gardner. We are seeing an evolution where older buildings are being acquired by visionary, well capitalized developers and investors who are planning and/or executing renovations to adapt them to the new digital economy. In some cases, buildings are being transformed for mixed commercial/residential use. The inclusion of residential units in commercial buildings helps keep the downtown areas vibrant and reduces traffic congestion as residents are living in close proximity to work, restaurants and other services they use. This helps these smaller businesses thrive as well.
2. While traditional retail overall is declining as can be seen in how shopping malls are struggling, we are seeing job growth in e-commerce, not just for the furniture sector, but across many sectors. I expect to see continued growth in this area. All types of businesses should be planning their e-commerce strategies if they want to survive. As for Rotmans Furniture, many customers still want to sit on or touch the furniture before they buy it, so we don’t see our retail footprint decreasing anytime soon. However, over the past several years, in line with the national trend, we have been expanding our e-commerce business to serve the growing number of consumers who want the convenience of shopping online and having quality merchandise delivered quickly to their doors. With Vystar, which, in addition to owning Rotmans produces Vytex low protein latex used in many types of products, and RxAir UV light air purifiers, almost all consumer sales are online or business-to-business and we expect that to continue. Due to increased demand and to better service our customers, we have expanded our shipping to 7 days/week and added next day and same day delivery throughout New England.
Link to entire article: https://www.telegram.com/news/20200105/busine...o-new-year
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