Results of a UNLV Study Show Overwhelming Support Among Furniture Retailers for the Proposed Las Vegas Furniture Market

Furniture World Magazine

Furniture retailers across the United States participated in an independent survey that aimed to measure the level of their support for a wholesale furniture market and showrooms in Las Vegas. Results of the study have revealed overwhelming industry support for a new market in Las Vegas, and ranked the city very high in every category that measured the amenities most important to retailers. The study was conducted by the highly-respected Center for Business and Economic Research at University of Nevada at Las Vegas in conjunction with L.A. Mayo & Associates. The study was commissioned by Furniture Mart Enterprises, LLC, a company planning to build the International Furniture Trade Center (IFTC), a half-billion dollar complex that upon completion will comprise more than five million square feet of wholesale showrooms and convention facilities, specializing in all aspects of home and office furnishings. Overall, the results of the study demonstrate that Las Vegas is a highly-desirable site for manufacturers' showrooms and convention complex, with a staggering 80 percent of those surveyed indicating they would be likely to attend the showrooms in Las Vegas. In addition, 53 percent of the respondents say they would benefit from the manufacturers' showrooms offering year-round access. IFTC plans to provide the trade buyers with access throughout the year to specific segments of its complex. Over 50 percent of retailers have visited Las Vegas at some time and overall have a favorable opinion of the city. This high visitation rate corroborates the selection of Las Vegas as the natural host for this proposed complex. Retailers were asked to rank the importance of amenities often associated with convention and showroom locations. Hotel room availability was most important, with reasonable hotel rates ranking second, convenient hotel locations third, airline ticket prices fourth and airline service rounded, out the top five most important amenities associated with a location. The developers of the IFTC say that the visibility, accessibility and proximity of the proposed site in downtown Las Vegas makes it the ideal location for this project. They have chosen Las Vegas because it provides more amenities than any other destination in the world. "This survey proves the existence of demand among furniture industry retailers for a showroom and convention venue in Las Vegas," according to R. Keith Schwer, Ph.D., Director and Professor of Economics at UNLV, who supervised the study. "Consequently, manufacturers will follow the demand in becoming users and tenants of this complex. They will likely choose to participate in what is an exciting new channel of product distribution, thereby increasing their sales volume." furniture mart, llc plans to commission further research including studies on the economic, fiscal and tourism impact of this project on the city of las vegas and state of nevada. oriental weavers to feature new construction.