Las Vegas Reports 9% Increase in Buyer Attendance over Winter '10

February 15, 2011  by in UnCategorized   

By Home Furnishings Business in Las Vegas on February 16, 2011

Las Vegas Furniture Market reported a 9 percent increase in buyer attendance over the Winter 2010 furniture show.

That included more than 80 percent of the Top 100 U.S. furniture retailers. Buyer attendance was up 25 percent from last summer's Las Vegas Market, and international buyer attendance rose 16 percent from last winter; and designer attendance was up 33 percent, again from the winter 2010 show. Organizers did not report actual the actual numbers.

Winter Las Vegas Market also reported a 20 percent increase in exhibiting companies to more than 1,200, including 150 new exhibitors, compared with Summer Market.

"Being the first total home market of the year, there was a sense of 'let's play to win.' It was probably our strongest market in Las Vegas, both in terms of attendance and sales, in three years," said Robert Maricich, president and CEO of World Market Center Las Vegas. "The energy was palpable, which I think was a reflection of what's happening at the macroeconomic level. The Consumer Confidence Index just rose to its highest level in eight months and the second highest level since 2008. There is no denying that this market plays a role in stimulating the industry and the furnishings economy. What we saw at market is an encouraging indicator of what's to come in 2011.€"

Maricich commented that the thousands of new buying units attending Las Vegas Market is additive to the marketplace.

"It's very exciting to see new interest in our industry and evolved business models in retail," he said. "These are not your traditional dealers, and instead represent new channels of distribution and sales opportunities for our partners."
 
During Market, the mood among buyers was marked by confidence, staying current on trends and the convenience of shopping Las Vegas.

"Las Vegas is very easy to work; no driving is required and it saves time and resources," said Stephen Riley, general merchandising manager for Nebraska Furniture Mart, Omaha. "It's very beneficial in that you see many different styles, trends and you don't need to travel far to compare and review. We saw some strong contemporary looks and reclaimed wood still making strong statements."

Some exhibitors reported unprecedented showroom traffic and order writing.

"This market was the best we've experienced in Las Vegas, with orders doubling last year's and the best attendance since Building C opened in July 2008," said Rob Sligh, chairman of Sligh Furniture Co. "We offered lots of new product introductions under both the Sligh and Loft 102 brands and most of the showroom was devoted to showing new products. That made it a compelling first look opportunity for dealers and everybody benefited."

"We€™ve done the last nine shows at Las Vegas Market and this show was by far the best for us," said Wally Stryk, owner of Asian Art Imports, a temporary exhibitor at Las Vegas Market located in the juried section of Design & Living. "This show far exceeded our sales and new contacts of any previous show. It was obvious to us that customer sentiment has taken a big step in a positive direction. We introduced a dozen new pieces and they sold well across the board."

"We had had elbow to elbow traffic in our showroom for three days straight with no end in sight," said Chris Miller, national sales manager for Four Hands. "We are seeing trends toward better end goods. It has been interesting to see that there has been a lot of medium to low-end retailers that are starting to step up to a better end product which is a nice trend to see."

Winter Market delivered a booming bedding market as Las Vegas had a special focus on the mattress category packed with high profile exhibits, tailored events, and through-the-roof buyer traffic. During the "Consensus Bedding Forecast" seminar, Simmons President Tony Smith said the company had a record breaking opening day market, "crushing" its previous opening market numbers by 35 percent.

During the same event, Jodi Allen, chief marketing officer of Sealy, also reported a record breaking opening day. The Specialty Sleep Association reported 1,016 registered buyers from 560 retailers visited the manufacturers and suppliers in its 15,000-square-foot space at the Las Vegas Market in January, a 25 percent increase from previous shows.

Click here for the complete release for the Winter Las Vegas Furniture Market.