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From Home Furnishing Business

Las Vegas Market Shows Enthusiasm for Recovery Despite Economy

August 6, 2024  by Karen Parrish in Business Strategy, Designer Weekly, Industry   

“The Summer shows, including Las Vegas Market, have been a remarkable demonstration of the industry’s adaptability and resilience,” said Jon Pertchik, ANDMORE℠ CEO. “As we navigate through economic headwinds, it’s clear that our shared commitment and innovative approaches will guide us towards a brighter future.”

More than 3,500 product lines in both permanent showrooms and temporary exhibits combined with robust category-specific programming delivered an immersive buying opportunity across furniture, bedding, home decor and gift. This summer, the Market drew retailers and designers from nearly all 50 states and internationally. With 30% of the total attendees being first-time visitors to Las Vegas Market, the market delivered on the opportunity for showrooms and exhibitors to meet new buyers and open new accounts.

A consistent refrain among gift industry thought-leaders was the role of markets in today’s business climate and the importance – now more than ever – of participation.

Jacob Gerson, executive vice president and chief revenue officer of The Gerson Companies, reported, “Even during challenging times, Market remains our most effective marketing tool. It generates the highest number of leads compared to any other method, as nothing showcases our merchandise better than a physical setting that allows us to get in front of our customers.”

RoadRunners vice president of operations, Angela Schmook, echoed, “We had a solid Summer show, and we can attribute that to the dedication that is required to thrive in this industry. The brands that invested in new product introductions and attended Market to support their reps had successful shows. Now, more than ever, buyers want to touch, feel and smell what they’re buying – tradeshows are essential to this experience.”

Earlier this year, the gift industry launched “Reps Are Local Too,” a movement that emphasizes the value of ordering from local sales representatives and investing in shopping local, directly from the source. Schmook added, “The ‘Reps Are Local Too’ movement was born from a need for support for rep agencies, and we didn’t expect the industry – retailers, brands and ANDMORE – to rally behind it so strongly. We are in an active phase to find retailers and brands to help us move this forward over the coming months.”

As consumers remain hopeful for a rebound following the coming quadrennial presidential election, leaders in the furniture and bedding industries also predicted gains in the coming months.

Steve Rusing, executive vice president, sales at Tempur Sealy, said, “Macroeconomic headwinds have pressured bedding industry demand in recent years, but our continued execution of long-term initiatives – including launching new, innovative products and expanding our omni-channel footprint – drives growth. Markets uniquely provide us with this opportunity to meet our customers, receive feedback and utilize showrooms to introduce lines.” 

Johne Albanese, Hooker Furnishings president and CMO, added, “Our strategic planning remains tilted toward the long term. We remain rock solid in our belief that, despite the current challenges, our industry will ultimately benefit from the inevitable pendulum swing back toward growth. Bolstered by strong demographic and psychographic positives within the nation’s consumer base, a pent-up demand for home purchases, continued strong employment and record income levels, we are committed to our key strategies.”

Beyond exhibits, the Summer 2024 edition was marked by excitement surrounding business, design and trend education and gatherings. Standing-room-only seminars, including keynotes by Roger Thomas, Kathy Kuo and Alaina Kaz of The Everygirl, provided valuable insights.  Community-building events, such as an exclusive designer soiree at Wynn and Giftbeat’s Retailer Roundtable encouraged networking and inspiration, and engaging on-site activations allowed buyers to experience products in new ways. These elements combined to create an atmosphere of optimism and collaboration, reinforcing the industry's readiness to overcome challenges and welcome future opportunities.

At the conclusion of the five-day market, a sense of renewed energy and strategic focus signals a brighter and more resilient future for the industry. The Winter 2025 Las Vegas Market runs Jan 26 –30, at World Market Center Las Vegas.