Vegas Reports Strong Start

January 25, 2011  by in UnCategorized   

By Home Furnishings Business in Las Vegas on January 26, 2011

Las Vegas Furniture Market reported stronger-than-expected opening day attendance and order writing.

By Monday's close, market officials said buyer attendance was up 19 percent over the Summer Market and 7 percent higher than Winter Market a year ago. The also reported significant increases in international buyers, designers and gift retailers.

"We are off to a rip-roaring start," said Robert Maricich, president and chief executive officer of World Market Center Las Vegas. "We are seeing optimism and I hope that continues with days of order writing."

Maricich said the mood of the day was "let's play to win."

"Manufacturers and importers have cut their costs to the point that if they have survived thus far in the great recession, they are positioned to grow," Maricich said. "I am especially encouraged by the amount of new product introductions in Las Vegas this week."

Jeff Hiller, owner of Proaction Marketing Group and president of the Sustainable Furnishings Council, said retailer confidence is up, and that can only bode well for Market. Hiller discussed the economic outlook during his opening day seminar, stating that the industry will continue to see moderate sales gains through the first half of 2011 due to the lag effect on home sales gains the year before. Hiller quoted a recent Forbes report that said 49 percent of retailers see recovery as an opportunity to grab market share.

€œSmart businesses see stabilization in the economy as an opportunity to get ahead,€ he said.  Hiller went on to offer retailers a road map to a successful year. €œThe single most important thing to do to improve sales is instill confidence throughout your organization by your actions not just words. It affects the ability of your staff to perform at their best and also influences your customer€™s decision. People are drawn to optimism; we all want to do business with winners. Attending markets, flooring new products, and communicating the news with excitement are all part of it.€ €¨
Several buyers and exhibitors also expressed enthusiasm.

"World Market Center Las Vegas is a fantastic forum for retailers," said Gene Lunger, vice president of sales with South Florida-based City Furniture-Ashley HomeStores. "There is no market I am able to visit where it is possible to accomplish more with such great time efficiency."

Edward Nader, a buyer and owner of Nader's Gallery in Shreveport, La., said that his store had an impressive year last year and he was looking forward to finding new and different products to add to his current lines.

"We had a great year and we are looking to expand our business. We are here looking for furniture and accessories," he said. "From the moment we got off the elevator we started seeing great new stuff."

For more retailer and exhibitor comments on market, read the full release here.