World Market Center Las Vegas announced taht it hosted the home furnishings industry’s first bull market of the new decade and year, with buyers, designers and exhibitors from around the world turning out in record numbers at February Las Vegas Market, Feb. 1-5.
The Winter Las Vegas Market attracted more retail buying units than the last three consecutive Markets. With retail attendance figures and business activity up from a year ago, the event helped turn the page on what has been a challenging two years for the home furnishings industry.
Among buyers and designers in attendance both the Northeast and Midwest segments showed an increase of 40 percent over last market, while attendees from the Southeast were up by 7 percent. In addition, international attendance continued to steadily rise, making up 8 percent of the Market’s total attendance with marked growth from buyers coming from Europe, Mexico and the Middle East.
Furthermore, new buyer attendance growth was very strong at the February Las Vegas Market, with 3,500 first-time retailers and designers coming from all regions of the country. Among the new-to-market buyers, Gift retailers accelerated more than all other business types, paving the way to a successful launch of Augusts’ Gift+Home show at World Market Center.
“The industry has weathered the eye of the storm, and it’s uplifting to see people motivated and geared up for success in the New Year. Although individual companies may be sending fewer people in each delegation given the economic times, more buying units overall were here, and decision makers showed up in record numbers,” said Robert Maricich, president and CEO of World Market Center Las Vegas.
“February’s Market was evidence that we are running far more than a Market; we are delivering what’s new on every front. With over 150 original seminars and exciting events at the Market, World Market Center is a platform that empowers retailers with tools, solutions and optimism to thrive.”
Las Vegas Market introduced plenty of “new” at the February Market. The debut of INSPIREDESIGN, an exclusive event for hospitality and healthcare professionals, along with Alfresco Spaces, a hotbed of the latest trends in outdoor furnishings, delivered a new cache of product categories for market attendees. And a novel strategic partnership between Las Vegas Market and SURFACES, held simultaneously at the Las Vegas Sands Expo Center, provided a compelling opportunity for floor coverings buyers to access both trade shows with ease and efficiency.
These new showcases, coupled with the growing roster of high-end lines at Las Vegas Design Center, generated a boost among registered designers and hospitality contract buyers at February’s Las Vegas Market, with a staggering 40 percent increase among international designers.
Retailers searching for inspiring new products and vendors to add to their merchandising mix had to look no further than February’s Market, having discovered more than 100 new resources and exhibitors that showed at Las Vegas for the first time. The trend toward diversification was not only evident among suppliers who reported record number of new buyers in their showrooms, but also through attendance data. When comparing approximately the same universe of buyers a year ago, 24 percent more retailers attending Las Vegas Market were interested in decorative accessories, 12 percent more retailers were interested in furniture and 10 percent more retailers were interested in Gift.
“World Market Center’s diversified platform—with its depth and breadth in all segments and easy-to-shop campus—proved to be perfect match for these retailers who were looking for new, profitable sectors for their store in order to reach new customers,” said Maricich.
Las Vegas Market, the market leader in the mattress category, also introduced “Kick Off to Bedding 2010” that underscored the winning line-up of new bedding products and collections at February’s Market, coupled with exclusive networking events and complimentary programs. Senior bedding executives shared their perspectives on the industry’s business prospects in the new year during a roundtable discussion hosted by Furniture/Today while former New Orleans Saints quarterback, Archie Manning, father of current Indianapolis Colts starting quarterback Peyton Manning, current New York Giants starting quarterback Eli Manning, and former Ole Miss receiver Cooper Manning, was the keynote speaker sharing new insights on “playing to win.”
“This was a record market for us. It was the largest attendance we’ve ever had since we’ve been at Las Vegas Market. There’s excitement among retailers and an optimism that’s uniquely felt here in Las Vegas,” remarked Steve Fendrich of Simmons Company.
For many buyers it was an up market, both in uncovering new resources and shopping convenience, as James Coia, Furniture and Bedding Buyer for Bloomingdales remarked, “I was overwhelmed by the variety—we have seen so many resources and bumped into showrooms we would have never even thought about. I was impressed with the Las Vegas energy and surprised by the number of people—we will be back absolutely.”
“We were busy, busy, busy, buying, buying, buying. Our trip was very productive. We found the show to be both hospitable and resourceful,” said Charlie Deaton, buyer for Pier 1 Imports. “We plan on making Las Vegas part of our annual travel schedule.”
Virtually all of World Market Center’s 1,500 exhibiting companies and lines launched new products during February Market which was a driving factor in their success. A broad section of the products at Market were available for immediate shipment, which is critical during this period of low inventories when retailers need to bolster their supply caches.
“Monday was the busiest we’ve seen in any showroom—anywhere—and the right people are here. We feed this market with new product. The orders and climb in business are reflective of that. We are feeling an uptick and optimism when we’re in Las Vegas; we sense that when we’re with retailers,” said Jeff Cook, president of Broyhill.
“The quality of buyers has been phenomenal,” said Donna Johnson, partner of Postcards Home. “Our goal was to bring a high-end look at a price that would not exceed the customers’ boundaries. We’ve written business and people are upbeat.”
“Traffic in our showroom was up over twice that of the last market and 50 percent more than last February’s market,” said Kevin Kaufmann, chief executive officer of Simply Amish. “Retailers seemed optimistic and ready to fill holes on their floors. They were also looking for higher quality, domestic-made products.”
The exciting roster of events complemented Market week in Las Vegas. Attendees rubbed elbows at the star-studded Market, which featured not only design celebrities including Kathy Ireland, Jane Seymour, Nancy O’Dell and HGTV’s Angelo Surmelis and Monica Pedersen, but celebrity chefs made appearances in an “Only in Las Vegas” offering for attendees with the Alfresco, Taste of Las Vegas event. The celebration on opening night offered guests unprecedented access to the flavors and personalities of top Las Vegas chefs such as Kerry Simon, Alessandro Stratta, Paul Bartolotta, Hubert Keller, Robert Solano and others. In addition to world-class cuisine, design elements also took center stage with fire pits, chaise lounges and the latest in outdoor furnishings.
For technology-seekers, the first-of-its-kind interactive Smartphone application designed by World Market Center launched a week prior to Las Vegas Market. Market-goers had the ability to easily access exhibitor and event information, strengthen social communities and share information with others – all from their touch of their iPhone.
“World Market Center’s new App for iPhone is really well-done. Buyers were using it and coming in to the showroom referencing it. We picked up new buyers and proudly serviced the retail ‘survivors’,” said Lyndell Glassco of Paragon.
Looking forward, World Market Center also rallied retailers to participate in a unified marketing and sales event—National Home Furnishings Month this September. Retailers were provided with information on the 2010 industry event with free registration and opportunities to include their stores in the online retailer locator program. More information on the campaign can be found at www.HomeYet.com.
Commitment to Sustainability
World Market Center Las Vegas continued its commitment to the environment and the industry by unveiling several eco-friendly initiatives and ground-breaking events. The launch of the One Good World™ aimed to motivate manufacturers and buyers to help reduce their collective carbon footprints. The forward-thinking program included One Good Guide, a new sustainable products locator program, and expanded educational offerings at market.
On the Sunday prior to the opening of Market, World Market Center, in partnership with the Sustainable Furnishings Council and numerous governmental and non-governmental organizations, hosted the One Good World ECOngress. A conference designed to increase understanding of the impact of US Lacey Act legislation on the home furnishings industry, the event demonstrated how to build markets for legitimately sustainable products.
Structured as a series of short presentations followed by in-depth panel discussions, the sessions were open to questions from attendees. Two dozen speakers from major organizations representing every point in the supply chain, served as panelists. Among those participating included ranking staff from the U.S. government, academic institutions, forest land owners, top 10 furniture manufacturers and retailers, interior design associations and consumer media.
“This event was an extraordinary experience for me. For a scientist who mainly lives in an academic world of research and graduate student advising, this was really an eye-opening trip to another planet: the real world,” said presenter Richard Somerville, one of the three lead authors of the UN report on climate change which won the 2007 Nobel Peace Prize.
World Market Center also launched its third annual design competition, One Good Chair, during February’s Market. This year’s theme, “Minimum/Maximum,”challenges designers to create something that is not only sustainable but also comfortable.
Montoya Named Design Icon
Many consider Juan Montoya to be the embodiment of excellent education, international flavor and dynamic design. On Wednesday, Feb. 3, the international design luminary was honored with one of the design industry’s highest honors: World Market Center Las Vegas’ Design Icon.
Born in Bogotá, Colombia, Montoya’s portfolio is as eclectic as it is storied. He specializes in residential and commercial spaces, including but not limited to interiors, architecture and exteriors, with both domestic and international clients.
In addition to this honor, the designer and lecturer has received numerous accolades throughout his colorful career, and is consistently named in the AD Top 100 Designers. He is represented in the Interior Design Hall of Fame.
The annual Design Icon award honors design legends by giving them a platform from which to share their stories and inspire and educate other designers. In receiving the honor, Montoya joins the ranks of past recipients such as Vicente Wolf, Vladimir Kagan, Larry Laslo and Roger Thomas.
The next Las Vegas Market will be held August 2-6, 2010 and will be co-located with the launch of two new events, Gift+HomeTM and VegasKidsTM. Attendees can book discounted rooms online now at www.LasVegasMarket.com.
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 and designers. World Market Center currently hosts the biannual Las Vegas Market™, the preeminent total home market.
In August 2010, World Market Center will launch the inaugural Gift + Home™ show catering to the gift, decorative accessory and seasonal industries along with Vegas Kids™ which will provide youth furniture, juvenile products, toy and game, children’s books, children’s apparel and gift. In February 2011, INSPIREDESIGN™ returns at World Market Center representing a dynamic alternative for manufacturers and companies serving the hospitality design marketplace. Find us on Facebook and Twitter.
For more information on World Market Center Las Vegas, visit www.LasVegasMarket.com.