World Market Center Las Vegas announced in their post-show report that signs of an economic resurgence within the home furnishings industry were evident at the recent Las Vegas Market, held September 14-17, as a significant uptick in registration among buyers and designers spurred welcome activity and solid order writing in showrooms across World Market Center Las Vegas’ campus.
Exhibitors, they said, reported strong results from the moment World Market Center’s doors opened, noting the quality of buyers in attendance and brisk order writing.
Las Vegas’ inaugural September Market saw a 12 percent increase in the number of registered buying units compared to last July. Among international buyers, there was a 36 percent increase compared to July 2008, and a 15 percent increase over February 2009 Market – with notable growth among Latin American buyers.
Market officials also reported a greater diversity in the range and type of retailers, noting a 21 percent increase in home textile buyers, a four percent gain in lighting buyers and a two percent uptick in floor coverings buyers.
“We are very pleased with the result of our first September Market and encouraged by the tremendous showing in this very difficult period in the economy for the home furnishings industry. It is clear that our campaign for driving optimism filled with compelling marketing and programming encouraged manufacturers to ‘play to win’ by introducing terrific new products,” said Robert Maricich, President and CEO of World Market Center Las Vegas. “This unprecedented effort led to retailers and designers buying and left everyone with a sense of fulfillment.”
Maricich added, “We clearly attracted motivated buyers from across a broad geographic area and were highly successful in getting the right people with a desire to place orders at Market. In an environment that other trade shows and markets are reporting significant double digit declines, the results from this market were truly outstanding. This is a testament not only to World Market Center’s significant investment into this state-of-the-art platform, but also to the optimism and resolve of our industry to accelerate our collective recovery.”
94 percent of World Market Center’s 1,400 exhibiting companies and lines launched new products at the September Las Vegas Market, and most manufacturers cited the importance of new introductions as a driving factor for their success. Further, 70 percent of the products at Market will be available for immediate shipment—a near-necessity right now, with low inventories and a strong need for retailers to bolster supply caches.
Dan Bradley, president of second-time exhibitor Henredon, said he has seen that hunger firsthand. “This Market has been even better than our first one,” said Bradley. “We introduced a few new collections at Las Vegas Market and many more appointments than last market.”
“Order-writing was off the charts,” said Jeff Cook, President and CEO of Broyhill. “We made a big commitment to new product at this Market and saw a direct correlation to sales.”
Rob Sligh, chairman of Sligh / Loft 102, said he and other exhibitors are on the lookout for new beginnings. “Difficult market conditions forced dealers and all of us to develop creative ways of generating profitable sales,” Sligh said. “In many cases retail inventories are finally depleted. Dealers are buying into fresh ideas, and are ready to sail out of the doldrums and into a freshening breeze. At this September market, we saw decision makers and order writing was up as a result.”
Ron Wanek, chairman of Ashley Furniture Industries, who introduced 380 new collections at September’s Las Vegas Market, said, “Market beat our expectations. Everyone is in a good mood and buying, so we are happy. Buyer traffic in the showroom was outstanding.”
Designer traffic was also up and Las Vegas Design Center tenants had positive reviews of market week.
First time exhibitor Farooq Kathwari, chairman, president and CEO of Ethan Allen, said he could feel that enthusiasm in every aspect of opening day. “There is an attitude that this market exudes. It is really very impressive. You feel it in all of the Market’s communications. It captures the world’s interest and attitude toward good design.”
“We had an exceptional first day—both in terms of traffic and quality of traffic in our showroom,” said Theresa Swett, president of Vero Beach, Fla.-based David Francis Furniture. “We are a luxury line and our customers typically are interior designers, high-end hotel specifiers and high-end retailers. That’s all we have seen—and we have seen one after another.”
The inaugural September Las Vegas Market proved to be an opportunity for every segment of the industry, which has withstood trying economic conditions for several consecutive quarters, to begin reversing course. The shift from July to September, which positions Las Vegas Market as the first of the season, was popular among buyers seeking unique product.
Patrick McCrum, a buyer from New Zealand-based Saywell Distributors Lt., said “It is a long journey from New Zealand to Las Vegas but the excellent organization including registration, accommodation and transport make the visit easy and enjoyable. The Market was very successful for me with both existing suppliers and in sourcing new options and I am really pleased with the opportunities we have identified for 2010 and beyond. I definitely look forward to attending the Las Vegas Market again next year.”
Canadian-based retailer Heidi Neumann, owner of Mattress Miracle and Soulful Circle gift store, who shopped Las Vegas Market for the first time said, “Every single retailer in Canada would benefit from being here. Las Vegas Market has a very eclectic mix of suppliers and the buildings make for a very avant-garde presentation. I love buying North American brands because it’ll give our stores an edge in our community. Many suppliers had very aggressive promotions and good shipping programs for Canadian buyers. I have died and gone to textile heaven!”
Bub Wo, President of Honolulu based retailer C.S. Wo & Sons, said “I found the Las Vegas Market to be a very productive and worthwhile buying opportunity for our company. Las Vegas has the added benefit of being easy, affordable, convenient, efficient and a very enjoyable overall experience. This Market is becoming more and more important to us because of the increased major suppliers showing in Las Vegas and the larger presentations.”
Marie Yoshidome, a buyer with Wal-mart.com said, “Market has been good for me. I do like that there is a lot more about sustainability and I liked the floor dedicated to sustainable products. I now dedicate my time to Las Vegas Market due to ease of shopping and being centrally located.”
Robert Maricich applauded industry leaders who opted to take an aggressive approach to revitalizing their businesses.
“It’s encouraging to see the home furnishings community turn out in such strong numbers to push our recovery forward,” Maricich said. “I genuinely believe we’re turning the economic corner, and our collective long-term health will benefit from the willingness business owners have shown to be proactive.”
Inaugural Home Furnishings Month Launches with “Is it Home yet?” Campaign website www.homeyet.com
Las Vegas Market week also marked the official industry launch of National Home Furnishings Month, which is a World Market Center-inspired initiative to encourage consumer spending to speed the industry’s economic rebound. World Market Center opted to invest its own resources in the campaign as a means of establishing a forward-thinking, collaborative marketing platform that includes a key retail period (Sept. 19-27), when retailers are encouraged to offer special sale events to take advantage of consumer interest generated by extensive advertising and other marketing efforts.
New Shows Announced for 2010 at World Market Center Las Vegas
Maricich announced on the opening day of Market that three new shows are planned for 2010: InspireDesignTM, a hospitality show that will launch with the February Las Vegas Market; VegasKidsTM and Gift + HomeTM will launch in June.
InspireDesignTM, whose design will be directed by legendary designer D.B. Kim, is expected to set a new standard for showcasing design in North America and will focus on the latest interior and architectural design solutions for the hospitality, senior living and healthcare marketplace. The event will bring together designers, purchasers, owners and suppliers for major hospitality and healthcare projects from all over the country and will be held in the campus’ sculptural exhibition pavilions.
VegasKidsTM, which will run June 13-16, will complement World Market Center Las Vegas’ Gift + HomeTM Show and will further solidify the campus as home to a comprehensive home marketplace. The new show will connect exhibitors and buyers across a broad spectrum of interrelated industries, including nursery and youth furniture, juvenile products, toy and game, children’s books, children’s apparel and gift.
The Gift + HomeTM Show will be World Market Center Las Vegas’ first ancillary market and will feature permanent and temporary exhibitors in categories including seasonal, floral, decorative accessories, general gift and others.
Return of Industry’s Premier Trendsetters’ Webcast
September Las Vegas Market saw the return of the popular Ahead of the Curve webcast, which provides an exclusive preview of home design trends selected by world-renowned designers. Timothy Corrigan, Laura Kirar and Vicente Wolf toured World Market Center’s showrooms with design guru and Today show contributor Susanna Salk in search of next season’s hottest selections.
With Salk moderating, the trio of guest designers engaged in a spirited discussion of trends ranging from mixed metals to ethnic patterns to raw materials. “It’s always exciting to uncover stand-out pieces and identify trends,” said Salk. “Las Vegas Market offers something for everyone; whether its upscale floor coverings to chic furniture or affordable decorative accessories, it’s easy to find many items that reflect various styles.”
The panel introduced the capacity on-site crowd – and hundreds of online participants – to extraordinary examples of handcrafted items, pieces that blend modern and classic traits and methods of marrying comfort with style.
Wolf is Design Icon
Vicente Wolf was a busy man at September Las Vegas Market. In addition to participating in Ahead of the Curve, he was named Design Icon to celebrate his visionary inspiration on the profession. Wolf, who owns Vicente Wolf Associates, Inc., boasts a dynamic portfolio that includes photography, art collecting, interior design and global travel. This latest accolade is one of many prestigious honors that has been bestowed on Wolf: House Beautiful named him one of the 10 most influential designers in the United States, and Traditional Home selected him as one of its 20 Icons of Design.
About World Market Center Las Vegas
World Market Center Las Vegas is an integrated home and hospitality contract furnishings showroom and trade complex. The state-of-the-art campus showcases furniture, decorative accessories, gift, lighting, area rugs, home textiles and related segments, as well as the Las Vegas Design Center (LVDC), now open daily to consumers along with their designers. World Market Center currently hosts the preeminent Las Vegas MarketTM biannually in February and September. World Market Center will debut INSPIREDESIGNTM in February 2010 for manufacturers and companies serving the hospitality design marketplace. And Gift + HomeTM show launches in June 2010, catering to the gift, decorative accessory and seasonal industries along with Vegas KidsTM which will provide youth furniture, juvenile products, toy and game, children’s books, children’s apparel and gift. For more information on World Market Center Las Vegas, visit www.LasVegasMarket.com. Find us on Facebook and Twitter.