FUNERAL HOME & CEMETERY Memoires des choix des - Nomis ...
FUNERAL HOME & CEMETERY Memoires des choix des - Nomis ...
FUNERAL HOME & CEMETERY Memoires des choix des - Nomis ...
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DECEMBER 2009 <strong>FUNERAL</strong> <strong>HOME</strong> & <strong>CEMETERY</strong> NEWS Section A<br />
Walmart’s New Casket Sales<br />
Underscores Importance of<br />
Aftercare Opportunities By Timothy Miles<br />
If ever there was a signal that the funeral industry is undergoing<br />
fundamental changes, Walmart’s entry into the casket<br />
business has to be diffi cult to ignore. October 28 th saw news<br />
that the world’s largest retailer introduced 15 value priced caskets<br />
on their website. Th e caskets are being supplied by Star<br />
Legacy Funeral Network in McHenry, IL. Prices range from<br />
$999 and cap under $2,000 excepting the “Sienna Bronze”<br />
weighing in at $2,899.<br />
Recent years have seen the introduction of online casket sales<br />
with numerous companies off ering a wide variety of caskets but<br />
Walmart dwarfs them all. With over $400 Billion in sales and<br />
100 million people visiting Walmart weekly, they just mainstreamed<br />
online casket sales and the assumption will be that<br />
Walmart off ers greater values than local funeral homes. While<br />
this assumption is disputable, the truth will have little to do with<br />
the overall eff ect. Th e casket sales capture rate that funeral homes<br />
realize will diminish while casket margins in many homes will<br />
be further reduced. Still, in the end, this could turn out to be a<br />
really good thing for funeral homes across America.<br />
Over the past 20 years, the funeral industry has evolved slowly<br />
but steadily. We’ve witnessed trends away from burials and<br />
towards cremations and trends toward honoring and celebrating<br />
the deceased’s life instead of mourning their death. We’ve<br />
seen the decentralization of the family and the mobilization of<br />
Americans eff ectively changing the size and nature of funeral<br />
services. Th en, the explosion of the internet, coupled with new<br />
regulations, opened the door for online casket and urn sales.<br />
However, the impact of all these margin challenging realities<br />
has been greatly mitigated by a steadily growing number<br />
of customers, a quality unique to the funeral business and one<br />
that will continue for many years to come. Th is circumstance,<br />
increasing business to off set shrinking margins, has allowed<br />
many funeral homes to hang on to the status quo rather than<br />
aggressively seek new ways to eff ectively increase profi ts.<br />
Th is unique convergence of realities, coupled with the funeral<br />
industry’s iron grip on traditional business practices, goes a long<br />
way towards explaining why the funeral industry has an inordinately<br />
low percentage of establishments using websites compared<br />
to other service oriented businesses and why so few are open to<br />
fully exploring the signifi cant profi t opportunities presented by<br />
the growing after-care market and online marketing.<br />
CONTINUED ON PAGE A27<br />
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