Shawn Nelson: Yes. I’ll tag on to this if that’s okay as well. Lovesac showrooms are just a different animal in retail. They really are, and we feel really lucky to have evolved this way and to have, frankly, achieved this scale at this time. I think it’s obvious to anyone watching that we’ve lived through some really unprecedented economic times. And over the last few years, it’s been an extremely noisy consumer marketplace. There’s plenty of Lovesac sort of copycats out there trying to do something like what we do, mostly online. And in the end when you see those products in person compared to what we’re offering, that is just not even close in terms of quality and execution, that sort of thing. But you need to see it in person to really appreciate it because in a photograph, it can look very similar.
And so to be — let’s call it, 200 locations ahead of pretty much everyone in that realm. And at a time when investment is more dear, cash is more precious, we will be very cognizant of building cash and building earnings as well, I think most I really think that puts us in a really strong position over the next couple of years, as our business model continues to gain strength. Look at the growth we’re putting up compared to the categories. It’s just — the category is down significantly right now. I’m talking really a biz mall falling off going on. I’m being really transparent. Lovesac is growing, and we will continue to grow. And we feel very confident in that. And a big piece of that is that we’ve got the best product in the marketplace, delivered in the most efficient way.
And meanwhile, we don’t have big eyes to just put up locations. I’ve said for a long time, our overall point of view is to have a few showrooms we can get away with. But we need to make the product available to people who are spending $3,000, $5,000, $7,000, $10,000, $15,000 of whack with us. And would love to see this thing one time, because even though they know they can return the product in our return window or whatever. And we’re always — we’re just so customer-focused. We always take it back. We’ll always work with people and our return rate is relatively low, but who wants to deal with that, right? Consumers aren’t stupid. And so these showrooms are super power and the fact they can operate in like 800 square feet with a total staff of five, six people, let alone usually one or two maybe at any given moment in the showroom, there is nothing comparable to what we’re doing.
There is no analog for that. They are radically efficient, they’re radically effective, and we’re really proud of the business model that we have evolved into over these many years. And I think at this particular time, it’s especially poignant because we have reached that escape velocity where others have not. And then meanwhile, the traditional players are just a completely different operating model. Those that we — and I don’t disrespect them. There are amazing furniture brands out there doing beautiful things but we’re not operating on beauty. Our product is beautiful, and we make — we have great designs and only getting more refined with introductions like Angled Side, et cetera, there’s more to come, lots more to come. But we’re playing a different game, and it’s working really well for us.
And I think that all of these strengths are the reason you’re seeing this disparity between us and the category, and you will continue to see it. And so we’re very proud of that.
Matt Koranda: Super detail and helpful guys. Appreciate it all. Best of luck for holiday.
Operator: Thank you. As there are no further questions, I would now hand the conference over to Shawn Nelson, for closing comments.
Shawn Nelson: I just want to say thank you to all of our investors and partners and all those in the finance community who continue to support our business. And especially thanks to our extended #LovesacFamily and the teams that continue to drive our results. Have a great day.
Operator: Thank you. The conference of Lovesac has now concluded. Thank you for your participation. You may now disconnect your lines.
